Good morning, ladies and gentlemen. I am Jim Gattoni, President and Chief Executive Officer of Landstar System Inc, and a member of Landstar's Board of Directors. I'd like to welcome all of you to the 2020 Landstar System Annual Meeting of Stockholders. In light of the coronavirus pandemic and the concerns we all have regarding public health and travel at this time, Landstar decided to hold this year's Annual Stockholder Meeting as a virtual meeting. We announced this change in our plans on April 22nd, 2020. We appreciate everyone's understanding regarding this decision. At this time, I would like to introduce the other members of Landstar's Board of Directors who are with us today by phone, beginning with our Chairman of the Board, Diana Murphy. The other members of the Board are Homaira Akbari, David Bannister, Anthony Orlando, George Scanlon, and Larry Thoele.
I would also like to introduce Landstar's other executive officers who are with us today: Kevin Stout, Vice President and Chief Financial Officer; Mike Kneller, Vice President, General Counsel and Secretary; Rob Brasher, Vice President and Chief Commercial Officer; Rick Coro, Vice President and Chief Information Officer; and Joe Beacom, Vice President and Chief Safety and Operations Officer. Also in attendance today by phone are Roddy Melendez and Lauren Papenhausen from KPMG LLP, the company's independent registered public accounting firm for the 2019 fiscal year. KPMG has also been nominated to serve as the company's independent registered public accounting firm for the 2020 fiscal year. Later in the meeting, there will be a question and answer period during which time the representatives from KPMG will be available to answer questions. Please note that stockholders may submit questions on the web portal at any time throughout the meeting.
Sean Dunleavy of Broadridge is the company's inspector of election for the meeting. Mr. Dunleavy is also present by phone and has signed an oath that he will faithfully execute his duties as the inspector for this election. He will also submit a certified report describing the results of the votes on all matters presented at this meeting. Mr. Dunleavy has advised the company that a quorum is present, the meeting is lawfully and properly convened, and we may proceed. Mr. Dunleavy has in his possession a list of the company's stockholders as of the record date. It is available for inspection at this meeting on the web portal and has been available for more than the last 10 days on the web portal, accessible by stockholders with information provided in the notice of the meeting.
Mike Kneller, Secretary of the Company, has reported that on April 6, 2020, stockholders of record as of March 24, 2020, were mailed a notice and access card regarding the availability of proxy materials for this Annual Stockholder Meeting. Alternatively, stockholders who request a full mailing were mailed a notice of this meeting together with a proxy, a proxy statement, and the company's annual report for 2019. An affidavit of an officer of Broadridge describing these mailings together with a copy of those documents will be filed with the minutes of this meeting. The matters set forth in the notice of this meeting will now be considered. Any stockholder who hasn't yet voted or wishes to change their vote may do so by clicking on the voting button on the web portal and following the instructions there.
Stockholders who have sent in proxies or voted via telephone or internet and do not want to change their vote do not need to take any further action. If you have filed a proxy with the company or with the inspectors of election, your shares will be voted in accordance with the proxy. If you did not indicate how you wish to vote on one or more proposals on a filed proxy, your shares will be voted in favor of proposals one, two, three, and four. The first matter to come before this meeting and be voted upon by stockholders is the election of directors. I recognize Joe Beacom.
I move that David Bannister and George Scanlon each be elected to serve as a Class III director on the Landstar Board of Directors for a term to expire at the 2023 Annual Meeting of Stockholders.
I recognize Rob Brasher.
I second the motion.
If any stockholder would like to make a comment regarding any of the nominations, please submit your comment through the web portal. There being no nominations or further discussion, I will entertain a motion that nominations for the election of directors be closed. I recognize Joe Beacom.
I move that the nominations for election of directors be closed.
I recognize Rob Brasher.
I second the motion.
The second matter to be voted on is the ratification of the appointment of KPMG LLP as the independent registered public accounting firm for the company's 2020 fiscal year. The audit committee has selected KPMG, and the Board of Directors recommends that stockholders vote in favor of ratifying this appointment. In this role, KPMG will audit financial statements and perform other accounting services for the company for the fiscal year ending December 26, 2020, or until the audit committee, in its discretion, replaces them. I recognize Joe Beacom.
I move that the stockholders ratify the appointment of KPMG LLP as the independent registered public accounting firm for the company's 2020 fiscal year.
I recognize Rob Brasher.
I second the motion.
The third matter to be considered by Landstar stockholders is the vote to extend the term of the 2011 Equity Incentive Plan. I recognize Joe Beacom.
I move that the stockholders vote to approve the extension of the term of the 2011 Equity Incentive Plan as described in the company's proxy statement for the 2020 Annual Meeting.
I recognize Rob Brasher.
I second the motion.
The fourth matter to be considered by Landstar stockholders is the advisory vote to approve the company's executive compensation. I recognize Joe Beacom.
I move that the stockholders vote for the approval on an advisory basis of the compensation paid by the company to its named executives as discussed in the company's proxy statement for the 2020 Annual Meeting.
I recognize Rob Brasher.
I second the motion.
We shall now proceed with the voting. I declare the polls open at 9:06 A.M. today, May 19, 2020, for each matter to be voted on at this meeting. The meeting is now open for discussion. If any stockholder would like to make a comment regarding any of the proposals, please submit your comment through the web portal. Please provide any comments on Proposal Number One, the election of directors. Proposal Number Two, the ratification of the appointment of KPMG LLP. Proposal Number Three, the vote to extend the term of the 2011 Equity Incentive Plan. Proposal Number Four, the advisory vote to approve Landstar's executive compensation. Seeing no comments from stockholders on any of the proposals, I now declare the polls closed at 9:08 A.M. today, May 19, 2020, for each matter to be voted on at this meeting.
Are there any other matters to be properly presented at the meeting? Seeing no additional matters to be presented, I will now entertain questions. Only validated stockholders may ask questions in the designated field on the web portal. Out of the consideration for others, please limit yourself to two questions. Please also note that this meeting is held by staff. However, no one attending via the webcast or telephone is permitted to use any audio recording device. Seeing no questions, we'll move to report on balloting. Mr. Dunleavy, the inspector of election for this meeting, has reported the results of the balloting to me. I would now like to report the results of the balloting to you. The election to the Board of each of David G. Bannister and George P. Scanlon has been approved.
The ratification of the appointment of KPMG LLP as the company's independent registered public accounting firm for fiscal year 2020 has been approved. The vote to extend the term of the 2011 Equity Incentive Plan has been approved, and the resolution relating to the advisory vote to approve Landstar's executive compensation has been approved. As there is no other business to come before this meeting, I will entertain a motion to adjourn. I recognize Joe Beacom.
I move that the meeting be adjourned.
I recognize Rob Brasher.
I second the motion.
If there are no objections. Seeing none, the meeting is adjourned.