UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
Current Report
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) December 7, 2022 (
(Exact name of registrant as specified in its charter)
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
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| Item 8.01 | Other Events. |
On December 6, 2022, the Board of Directors (the “Board”) of Landstar System, Inc. (the “Company”) authorized the Company to purchase up to 1,900,826 additional shares of its common stock, par value $0.01 per share (the “Common Stock”), from time to time in the open market and in privately negotiated transactions under its share purchase program. No specific expiration date has been assigned to the December 6, 2022 authorization. The December 6, 2022 authorization is in addition to the existing authorization to purchase shares of Common Stock under the Company’s share purchase program. In the aggregate, as of December 6, 2022, the Company has authorization to purchase up to 3,000,000 shares of its Common Stock under its share purchase program.
Also on December 6, 2022, the Board declared a special cash dividend of $2.00 per share to holders of Common Stock. The dividend will be paid on or about January 20, 2023, to stockholders of record as of the close of business on January 6, 2023.
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: December 7, 2022 | By: | /s/ James P. Todd | ||||
| Name: | James P. Todd | |||||
| Title: | Vice President, Chief Financial Officer and Assistant Secretary | |||||