Homaira Akbari
LANDSTAR SYSTEMAbout Homaira Akbari
Dr. Homaira Akbari (age 64) has served on Landstar’s Board since January 2013; she is President & CEO of AKnowledge Partners and holds a Ph.D. in particle physics from Tufts University, with prior executive roles at Microsoft, Thales, TruePosition, and CSMG, and serves on the Carnegie Mellon University Business Board of Advisors . She is independent under NASDAQ rules and attended at least 75% of Board and committee meetings in FY2024; all directors attended the 2024 Annual Meeting .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| SkyBitz, Inc. | President & CEO | 2007–2012 | Led remote asset tracking/security solutions; technology vendor to transportation sector |
| Microsoft Corporation | Executive roles | Not disclosed | Technology and enterprise experience |
| Thales Group | Executive roles | Not disclosed | International operations and technology |
| TruePosition (Liberty Media) | Executive roles | Not disclosed | Location tech; telecom-adjacent |
| Cambridge Strategic Management Group (CSMG) | Executive roles | Not disclosed | Strategy consulting |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Banco Santander S.A. (NYSE-listed) | Director | Current | Public company board experience |
| Santander Consumer USA Holdings Inc. (NYSE until Jan 2022) | Director | 2020–Jan 2022 | Former NYSE-listed U.S. subsidiary |
| Temenos AG (SIX Swiss Exchange) | Director | May 2020–May 2023 | Banking software industry |
| Gemalto N.V. (Euronext) | Director | 2013–2019 | Digital security; acquired by Thales |
| Veolia S.A. (Euronext Paris) | Director | 2015–2019 | Environmental services |
| Carnegie Mellon University | Business Board of Advisors | Current | Academic advisory role |
Board Governance
- Independence: Dr. Akbari is an independent director per NASDAQ Rule 5605; Independent Directors held six executive sessions in FY2024 .
- Committees (FY2024): Audit (member), Compensation (member), Nominating & ESG (member), Strategic Planning (member), Safety & Risk (Chair) .
- Meeting cadence (FY2024): Board (9), Audit (10), Compensation (4), Nominating & ESG (2), Safety & Risk (3), Strategic Planning (5); attendance ≥75% for all current directors .
- Oversight areas: As Safety & Risk Chair, she oversees enterprise risk, safety, insurance risk, IT security, and cybersecurity—including AI-related risks—with semiannual briefings by CIO and Network Services .
- Board structure: Non-executive Chair (Diana Murphy); declassified to annual elections beginning 2025 .
Fixed Compensation
| Year | Cash Retainer ($) | Equity Grant (Fair Value $) | Dividends on Unvested Stock ($) | Total ($) | Details |
|---|---|---|---|---|---|
| 2024 | 100,000 | 149,981 | 2,580 | 252,561 | 830 restricted shares granted May 8, 2024; vests at next Annual Meeting |
| 2023 | 100,000 | 149,989 | 2,790 | 252,779 | 851 restricted shares granted May 11, 2023; vests at next Annual Meeting |
- No meeting fees or committee chair fees; only non-executive Chair receives additional $50,000 cash .
- Director stock ownership guideline: 5x annual outside director cash fee within 5 years; all directors with ≥5 years service are in compliance .
- Hedging & pledging of company stock are prohibited for directors .
Performance Compensation
| Grant Date | Instrument | Shares (#) | Grant FMV ($/sh) | Grant Fair Value ($) | Vesting | Dividend Cash Paid in Year ($) |
|---|---|---|---|---|---|---|
| May 8, 2024 | Restricted Stock | 830 | 180.70 | 149,981 | Vest at next Annual Meeting | 2,580 |
| May 11, 2023 | Restricted Stock | 851 | 176.25 | 149,989 | Vest at next Annual Meeting | 2,790 |
- Directors do not receive options or PSUs; equity is time-based RSUs/restricted stock vesting at the subsequent Annual Meeting .
Other Directorships & Interlocks
| Area | Observations |
|---|---|
| Compensation Committee Interlocks | None; all members are independent and no reciprocal board/committee relationships disclosed in FY2024 . |
| Sector overlap | Current/previous directorships span banking, software, digital security, and environmental services; Board cites her technology and cybersecurity expertise as additive to Landstar . |
Expertise & Qualifications
- Technology and cybersecurity expertise; Board skills matrix lists “Information Technology and Cybersecurity,” “Financial/Accounting,” “Risk Management & Insurance,” “Sales & Marketing,” “Communications and Brand Management,” and “Capital Allocation/Investment” among attributes for Dr. Akbari .
- Transportation/logistics technology experience via SkyBitz; international exposure across multinational corporations .
Equity Ownership
| Holder | Shares Beneficially Owned (#) | % of Class | Notable Components |
|---|---|---|---|
| Homaira Akbari | 14,606 | <1% | Includes 830 restricted shares subject to vesting; includes 2,500 shares held in a Defined Benefit Plan account |
- Ownership guideline compliance for directors with ≥5 years service affirmed by Compensation Committee .
- Hedging and pledging prohibited by Insider Trading Policy .
- Section 16 compliance: All required director/executive filings were timely in FY2024; one late Form 4 related to another officer noted (not Akbari) .
Governance Assessment
- Strengths: Independent status; Safety & Risk Committee chair role with explicit cybersecurity/AI risk oversight; consistent attendance; no compensation committee interlocks; robust ownership and anti-hedging policies .
- Alignment: Director pay mix is balanced (cash + time-based equity) with annual vesting and dividend accruals; ownership guidelines promote “skin-in-the-game” .
- Shareholder signals: Say-on-pay approval was ~96% at 2024 Annual Meeting and ~95% in 2023, indicating broad investor support for compensation practices .
- Board process: Annual self-evaluations overseen by Nominating & ESG Committee, with external advisor Spencer Stuart retained in 2024 for assessments and succession planning .
- RED FLAGS
- None disclosed regarding related-party transactions, hedging/pledging, or attendance shortfalls; compensation committee interlocks explicitly absent .