Landstar shareholders reject say-on-pay at 2025 annual meeting; all directors elected

LANDSTAR SYSTEM INC

Advisory vote on 2024 executive compensation failed: 15.2M for vs 17.0M against (52.8% opposed).
All eight director nominees elected; David G. Bannister received 4.0M votes withheld, Diana M. Murphy 2.9M.
KPMG LLP ratified as FY2025 auditor with 32.9M votes for (98.7% approval).
Approximately 96% of outstanding shares (33.4M) represented at the meeting.
Say-on-pay failure signals significant shareholder discontent with compensation practices.

item 5.07

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