UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
Current Report
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| Item 5.07 | Submission of Matters to a Vote of Security Holders |
Landstar System, Inc. (the “Company”) held its 2024 Annual Meeting of Stockholders (the “2024 Annual Meeting”) on May 7, 2024. A total of 33,852,294 shares, or approximately 95% of the common stock issued and outstanding as of the record date, was represented in person or by proxy. The matters voted upon by the Company’s stockholders (the “Stockholders”) at the 2024 Annual Meeting included: (i) the election of six Directors whose terms will expire at the 2025 annual meeting of stockholders (the “2025 Annual Meeting”); (ii) the ratification of the appointment of KPMG LLP as the Company’s independent registered public accounting firm for fiscal year 2024; and (iii) an advisory vote on the Company’s 2023 executive compensation.
(1) Election of Directors. At the meeting, David G. Bannister, James L. Liang, Frank A. Lonegro, Anthony J. Orlando, George P. Scanlon and Teresa L. White were each elected by the Stockholders to serve a new term as a Director on the Board, with such term to expire at the 2025 Annual Meeting. The votes cast with respect to Mr. Bannister, Mr. Liang, Mr. Lonegro, Mr. Orlando, Mr. Scanlon and Ms. White were as follows:
| Director | Votes For | Votes Against | Abstain | Broker Non-Votes | ||||||||||||
| David G. Bannister |
31,293,378 | 1,537,602 | 48,622 | 972,692 | ||||||||||||
| James L. Liang |
32,431,123 | 407,695 | 40,784 | 972,692 | ||||||||||||
| Frank A. Lonegro |
32,118,022 | 713,564 | 48,016 | 972,692 | ||||||||||||
| Anthony J. Orlando |
32,393,841 | 444,967 | 40,794 | 972,692 | ||||||||||||
| George P. Scanlon |
32,434,995 | 403,813 | 40,794 | 972,692 | ||||||||||||
| Teresa L. White |
32,432,611 | 406,311 | 40,680 | 972,692 | ||||||||||||
(2) Ratification of Appointment of KPMG LLP. At the meeting, the Stockholders ratified the appointment of KPMG LLP as the Company’s independent registered public accounting firm for fiscal year 2024. This proposal received 33,282,605 affirmative votes and 529,655 negative votes. There were 40,034 abstentions with respect to this proposal.
(3) Advisory Vote on Executive Compensation. At the meeting, the Stockholders voted to approve the following resolution:
“RESOLVED, that the Company’s stockholders approve, on an advisory basis, the compensation of the Named Executives, as disclosed in the Company’s Proxy Statement for the 2024 Annual Meeting pursuant to the compensation disclosure rules of the Securities and Exchange Commission, including the Compensation Discussion and Analysis, the 2023 Summary Compensation Table and the other related tables and disclosure.”
This proposal received 31,432,273 affirmative votes and 1,385,859 negative votes. There were 61,470 abstentions and 972,692 broker non-votes with respect to this proposal.
The meeting was then adjourned.
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: May 7, 2024 | By: | /s/ Michael K. Kneller | ||||||
| Name: | Michael K. Kneller | |||||||
| Title: | Vice President, General Counsel and Secretary | |||||||