---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-164626"
form_type: "8-K"
ticker: "LSTR"
cik: "0000853816"
company_name: "LANDSTAR SYSTEM INC"
filed_at: "2022-06-01T23:59:59+00:00"
generated_at: "2026-06-25T05:41:32.654659+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Landstar CFO Fred Pensotti to depart July 1, 2022; James Todd promoted to CFO

## Summary
- Fred Pensotti will step down as VP and CFO effective July 1, 2022, to pursue another opportunity.
- James P. Todd, previously VP and Corporate Controller, promoted to VP and CFO, effective July 1, 2022.
- Todd's annual salary increases to $340,000; eligible for annual bonus with threshold target of 50% of base salary.
- Todd will enter into Indemnification and Key Executive Employment Protection Agreements with severance equal to 2x base salary plus target bonus upon qualifying change-in-control termination.
- Pensotti will receive separation benefits per his May 2021 letter agreement.

## SEC filing metadata
- accession: 0001193125-22-164626
- form_type: 8-K
- ticker: LSTR
- cik: 0000853816
- company_name: LANDSTAR SYSTEM INC
- filed_at: 2022-06-01T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/853816/000119312522164626/0001193125-22-164626-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/853816/000119312522164626/d335127d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-164626
- JSON: https://secwatch.observer/filing/0001193125-22-164626.json
- Plain text: https://secwatch.observer/filing/0001193125-22-164626.txt

## Key facts
- Executive change
  James P. Todd was appointed as Vice President and Chief Financial Officer at LANDSTAR SYSTEM INC.
  - Action: promoted
  - Role: Vice President and Chief Financial Officer
  source text: Also on June 1, 2022, the Company announced the promotion of James P. Todd to Vice President and Chief Financial Officer of the Company, effective July 1, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/853816/000119312522164626/0001193125-22-164626-index.htm
- Executive change
  Federico ("Fred") L. Pensotti departed as Vice President and Chief Financial Officer at LANDSTAR SYSTEM INC.
  - Action: depart
  - Role: Vice President and Chief Financial Officer
  source text: On June 1, 2022, Landstar System, Inc. (“Landstar” or the “Company”) announced that Federico (“Fred”) L. Pensotti will depart from the Company as Vice President and Chief Financial Officer, effective July 1, 2022, to pursue another professional opportunity.
  evidence_url: https://www.sec.gov/Archives/edgar/data/853816/000119312522164626/0001193125-22-164626-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.