JAMES L. LIANG - Corporate Board Profile

LANDSTAR SYSTEM INC

Filing Date	Source Excerpt
2022-03-29	Mr. Liang was appointed as a Director of the Company by the Board, effective March 1, 2022. Mr. Liang is the founder of Hope Street Advisers, LLC, an investment firm through which he invests in early-stage technology companies, and an operating partner at Updata Partners LLC, a growth equity investment firm focused on B2B software companies. Earlier in his career, Mr. Liang served from 2008 to 2011 as the Senior Vice President, Strategy & Corporate Development at Amdocs, Ltd., a publicly held software company listed on the NASDAQ Global Select Market, where he led all corporate strategic planning and acquisition activities. Before that, Mr. Liang served as Vice President, Strategy – Global Technology Services (GTS), IBM's technology services division, leading initiatives to drive global growth. Prior to his roles as an operator, Jim was an investment banker at Morgan Stanley & Co., Inc. from 1993 to 2004, culminating his service at Morgan Stanley as the head of global technology investment banking. Mr. Liang also serves on the board of directors of Glassbox Ltd., a software company incorporated in Israel and listed on the Tel Aviv Stock Exchange. Mr. Liang has extensive experience working in and with innovative companies as an investor, operator and advisor. The Board believes Mr. Liang provides important strategic and financial expertise rooted in a technology-based background.
2023-03-28	Mr. Liang was appointed as a Director of the Company by the Board on March 1, 2022, and, subsequently, was elected by the Company’s stockholders at the 2022 Annual Meeting as a Class III Director. Mr. Liang is the founder of Hope Street Advisers, LLC, an investment firm through which he invests in early-stage technology companies, and an operating partner at Updata Partners LLC, a growth equity investment firm focused on B2B software companies. Earlier in his career, Mr. Liang served from 2008 to 2011 as the Senior Vice President, Strategy & Corporate Development at Amdocs, Ltd., a publicly held software company listed on the NASDAQ Global Select Market, where he led all corporate strategic planning and acquisition activities. Before that, Mr. Liang served as Vice President, Strategy – Global Technology Services (GTS), IBM’s technology services division, leading initiatives to drive global growth. Prior to his roles as an operator, Mr. Liang was an investment banker at Morgan Stanley & Co., Inc. from 1993 to 2004, culminating his service at Morgan Stanley as the head of global technology investment banking. Mr. Liang also serves on the board of directors of Glassbox Ltd., a software company incorporated in Israel and listed on the Tel Aviv Stock Exchange. Mr. Liang has extensive experience working in and with innovative companies as an investor, operator and advisor. The Board believes Mr. Liang provides important strategic and financial expertise rooted in a technology-based background. As disclosed in the Company’s Proxy Statement filed with the SEC on March 29, 2022, on May 11, 2022, following the 2022 Annual Meeting, the Board approved an increase in the annual fee paid to each Independent Director from $75,000 to $100,000 with no additional fees payable for attendance at or participation in Board or committee meetings or service as a chairman of a committee of the Board. For fiscal year 2022, each Independent Director received an annual fee at a rate of $75,000 for service prior to May 11 and $100,000 for the remainder of the year. Further, following approval by the Company’s stockholders of the 2022 Directors Stock Compensation Plan at the 2022 Annual Meeting, each Director who was neither an officer nor an employee of the Company was also entitled to receive a grant of restricted shares of Common Stock under the 2022 Directors Stock Compensation Plan on the first business day immediately following the 2022 Annual Meeting equal to a number of restricted shares of Common Stock determined based on the quotient of $150,000 divided by the fair market value of a share of Common Stock on the date of such grant, rounded to the nearest whole number of shares. Accordingly, each of the Independent Directors received a grant of 969 restricted shares of Common Stock under the 2022 Directors Stock Compensation Plan on May 12, 2022. Each such grant of restricted stock vests on the date of the next Annual Meeting following the 2022 Annual Meeting. Generally, the unvested shares of restricted stock are subject to forfeiture upon early departure of a Director from the Board for any reason prior to the Annual Meeting that immediately follows the Annual Meeting in respect of which such shares were granted. Dr. Akbari, Mr. Bannister, Mr. Liang, Ms. Murphy, Mr. Orlando, Mr. Scanlon and Ms. White were each granted 969 restricted shares on May 12, 2022, the first business day immediately following the date of the Company’s 2022 Annual Meeting. The fair market value of a share of Common Stock on May 12, 2022 was $154.81. Mr. Liang and Ms. White were each granted 140 restricted shares on March 1, 2022, upon their appointment as Directors of the Company, which vested on May 11, 2022. The fair market value of a share of Common Stock on March 1, 2022 was $154.52. At December 31, 2022, Dr. Akbari, Mr. Bannister, Ms. Murphy, Mr. Scanlon and Ms. White each had 969 restricted shares outstanding and Mr. Orlando had 4,331 deferred stock units and 969 restricted shares outstanding, respectively. Mr. Liang and Ms. White were each paid dividends on unvested restricted stock of $581 in 2022.
2024-03-26	Mr. Liang has been a Director of the Company since March 2022. ... The members of the Audit Committee are Homaira Akbari, David G. Bannister, James L. Liang, Diana M. Murphy, Anthony J. Orlando (Chairman), George P. Scanlon and Teresa L. White, each an Independent Director. ... The members of the Compensation Committee are Homaira Akbari, David G. Bannister (Chairman), James L. Liang, Diana M. Murphy, Anthony J. Orlando, George P. Scanlon and Teresa L. White, each an Independent Director. ... The members of the Nominating and ESG Committee are Homaira Akbari, David G. Bannister, James L. Liang, Diana M. Murphy (Chairman), Anthony J. Orlando, George P. Scanlon and Teresa L. White, each an Independent Director. ... The members of the Safety and Risk Committee are Homaira Akbari (Chairman), David G. Bannister, James L. Liang, Frank A. Lonegro, Diana M. Murphy, Anthony J. Orlando, George P. Scanlon and Teresa L. White. ... For fiscal year 2023, each Independent Director was paid an annual fee of $100,000 with no additional fees payable for attendance at or participation in Board or committee meetings or service as a chairman of a committee of the Board. Ms. Murphy, the non-executive Chairman of the Board, was paid an additional $50,000 annual fee to serve in that capacity. ... The following table summarizes the compensation paid to Independent Directors during 2023. ... James L. Liang: Fees earned or paid in cash $100,000, Stock awards $149,989, All Other Compensation $2,790, Total $252,779.
2025-04-04	Mr. Liang has been a Director of the Company since March 2022. ... The members of the Audit Committee are ... James L. Liang, ... The members of the Compensation Committee are ... James L. Liang, ... The members of the Nominating and ESG Committee are ... James L. Liang, ... The members of the Safety and Risk Committee are ... James L. Liang, ... The members of the Strategic Planning Committee are ... James L. Liang, ... For fiscal year 2024, each Independent Director was paid an annual fee of $100,000 ... The following table summarizes the compensation paid to Independent Directors during 2024. James L. Liang 252,561.