LANDSTAR SYSTEM INC SEC Filings

LANDSTAR SYSTEM INC reported the initial equity holdings of officer Vallie S. Dugas, who serves as VP General Counsel & Secretary. The filing lists 645 shares of Common Stock held with direct ownership. This is an initial statement of beneficial ownership, not a reported trade.

Clement William C reported acquisition or exercise transactions in this Form 4 filing.

Landstar System Inc. reported that VP and Chief Commercial Officer William C. Clement received a grant or award of 4,924 shares of Common Stock on 2026-08-01 at a reported price of $0.0000 per share. Following this equity award, he directly owns 4,924 shares of the company. The award was not reported as being made under a Rule 10b5-1 trading plan.

Landstar System Inc. officer William C. Clement, Vice President and Chief Commercial Officer, filed an initial report as a reporting person for the company. The report lists no reportable transactions or derivative positions at the time it was filed.

Landstar System, Inc. generated stronger mid‑2026 results. For the twenty‑six weeks ended June 27, 2026, revenue was 2,603,555 (Dollars in thousands), up 10% from 2,363,885, while net income rose to 88,391 from 71,699 and earnings per share increased to 2.60 from 2.05.

Growth was driven mainly by truck transportation, which represented 93% of revenue and benefited from roughly 11–19% higher revenue per load across most truck categories in a tighter capacity and higher diesel environment, even as total loads were roughly flat. Gross profit reached 244,879 (Dollars in thousands), and variable contribution margin was 14.3%.

Cash from operating activities declined to 27,810 (Dollars in thousands) due to working‑capital outflows, and cash and cash equivalents fell to 294,350. The balance sheet shows finance‑lease debt (present value) of 66,774 (Dollars in thousands) and total shareholders’ equity of 836,730. Landstar entered a new $300,000,000 revolving credit facility maturing in 2031, with no borrowings outstanding, and continued returning capital through dividends of 0.80 per share and common‑stock purchases. Insurance and claims costs remained significant, including unfavorable development of prior‑year self‑insured claims and losses tied to supply‑chain fraud and theft, which management highlights as an ongoing risk area.

Landstar System, Inc. reported strong results for the 2026 second quarter, with revenue of $1.432 billion, up 18.2% from the 2025 second quarter, and basic and diluted EPS of $1.44, up 20.0%. Gross profit rose to $132.3 million and variable contribution, a non-GAAP measure defined as revenue less purchased transportation and agent commissions, increased 17% to $199.4 million. Operating income was $66.2 million.

Truck transportation remained the core of the business, generating $1,334 million of second-quarter revenue, 19% above the prior year, as truck revenue per load increased about 17% and loads rose about 2%. Management noted lower DOT accident frequency but higher insurance and claims expense tied to unfavorable development of prior-year claims.

The Board declared a $0.44 per share quarterly dividend, a 10% increase over the regular dividend of the prior five quarters, payable September 9, 2026 to stockholders of record on August 18, 2026. During the 2026 first half, Landstar returned approximately $120 million to shareholders through dividends and share repurchases and ended June 27, 2026 with about $348 million in cash and short-term investments, a trailing 12‑month return on equity of 16% and return on invested capital of 14%.

Landstar System, Inc. has appointed William Bill Clement as Vice President and Chief Commercial Officer, effective August 1, 2026, adding him to the Executive Leadership Team reporting to President and Chief Executive Officer Frank Lonegro.

Clement will lead Landstar’s commercial strategy, support the independent agent network, advance customer relationships and focus on accelerating growth across strategic modes and specialized transportation services. He brings more than 30 years of transportation and logistics leadership experience, including senior roles at CRST and CSX.

Jim Applegate will move from Chief Corporate Sales, Strategy & Specialized Freight Officer to Chief Strategy & Transformation Officer on August 1, 2026. Matt Dannegger will become Special Advisor to the Chief Executive Officer on July 31, 2026, ahead of his anticipated retirement on March 1, 2027.

Landstar System, Inc. entered into a Third Amended and Restated Credit Agreement that provides a revolving credit facility with an initial aggregate principal amount of $300 million, plus an uncommitted accordion feature allowing up to an additional $500 million in increases.

The revolving credit facility has a termination date of June 30, 2031 and, as of June 30, 2026, there were no outstanding borrowings. Obligations are guaranteed by substantially all subsidiaries of Landstar System Holdings, Inc., subject to specified exceptions and alternative stock pledges for certain foreign-related subsidiaries.

The agreement adds covenants limiting additional indebtedness and lease obligations and requires the company to maintain minimum interest coverage and maximum net leverage ratios each quarter. It also defines change-of-control events of default, including if a person or group acquires 35% or more of the company’s outstanding capital stock or gains power to elect a majority of directors.

Landstar System VP and CFO Todd James P reported an open-market sale of 1,200 shares of Common Stock. The weighted average sale price was $218.1693 per share, with prices ranging from $218.11 to $218.26. Following this transaction, he directly holds 15,122 shares of Landstar System stock.

LSTR filed a Form 144 notice relating to proposed sales of Common stock held at Merrill Edge.

The filing lists numeric entries including 1,200, a dollar amount of $270,444.00, an identifier 33,928,210, and an exchange/date line showing NASDAQ and 06/09/2026. The record also lists vested awards of 434 shares (01/31/2024) and 766 shares (01/31/2023).