Landstar System Inc. Reports Director Departure & Officer Appointment
Ticker: LSTR · Form: 8-K · Filed: 2024-11-15T00:00:00.000Z
Sentiment: neutral
Topics: executive-compensation, board-of-directors, corporate-governance
Related Tickers: LSTR
TL;DR
Landstar's board saw a director exit and a new officer join, with exec pay plans updated.
AI Summary
Landstar System Inc. announced on November 15, 2024, changes in its board of directors and executive compensation arrangements. Specifically, the company reported the departure of a director and the appointment of a new officer, along with updates to executive compensation plans.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — The filing reports routine corporate governance changes and executive compensation adjustments, which are common and typically do not indicate significant operational risks.
Key Players & Entities
- Landstar System Inc. (company) — Registrant
- November 15, 2024 (date) — Date of Report
- Delaware (jurisdiction) — State of Incorporation
- 13410 Sutton Park Drive South, Jacksonville, Florida 32224 (address) — Principal Executive Offices
- (904) 398-9400 (phone_number) — Registrant's telephone number
FAQ
What specific roles did the departing director and newly appointed officer hold?
The filing indicates a departure of a director and the appointment of a certain officer, but does not specify the exact roles in the provided text.
When did the changes in directors or officers become effective?
The filing states the date of the report is November 15, 2024, and the date as of change is also November 15, 2024, suggesting the changes are effective on or around this date.
What are the key details of the updated compensatory arrangements for certain officers?
The filing mentions 'Compensatory Arrangements of Certain Officers' as an item reported, but the specific details of these arrangements are not provided in the excerpt.
Is there any information regarding the reason for the director's departure?
The provided text does not contain information explaining the reason for the director's departure.
What is the SIC code for Landstar System Inc.?
The Standard Industrial Classification (SIC) code for Landstar System Inc. is 4213, which corresponds to 'TRUCKING (NO LOCAL)'.
Filing Stats: 765 words · 3 min read · ~3 pages · Grade level 11.4 · Accepted 2024-11-15 16:39:01
Key Financial Figures
- $400,000 — m's annual base salary will increase to $400,000 and he will be eligible for an annual b
- $300,000 — r's annual base salary will increase to $300,000 and he will be eligible for an annual b
Filing Documents
- d915123d8k.htm (8-K) — 25KB
- g915123g1115010812962.jpg (GRAPHIC) — 4KB
- 0001193125-24-259871.txt ( ) — 150KB
- lstr-20241115.xsd (EX-101.SCH) — 3KB
- lstr-20241115_lab.xml (EX-101.LAB) — 17KB
- lstr-20241115_pre.xml (EX-101.PRE) — 11KB
- d915123d8k_htm.xml (XML) — 3KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. LANDSTAR SYSTEM, INC. Date: November 15, 2024 By: /s/ James P. Todd Name:James P. Todd Title:Vice President, Chief Financial Officer and Assistant Secretary