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LANDSTAR SYSTEM INC Director's Dealing 2008

Jan 3, 2008

31139_dirs_2008-01-03_62e57c3b-87e7-4ac0-a10a-b755c0cddf5f.zip

Director's Dealing

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SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: LANDSTAR SYSTEM INC (LSTR)
CIK: 0000853816
Period of Report: 2008-01-02

Reporting Person: O'Malley Patrick J (President - Landstar Carrier)

Holdings (Non-Derivative)

Security Shares Ownership
Common Stock 7000 Direct

Holdings (Derivative)

Security Exercise Price Expiration Underlying Shares Ownership
Stock Options (Right to buy) $13.1075 2013-02-05 Common Stock (5384) Direct
Stock Options (Right to buy) $14.6207 2013-01-02 Common Stock (3200) Direct
Stock Options (Right to buy) $19.025 2014-01-02 Common Stock (40000) Direct
Stock Options (Right to buy) $32.13 2015-01-27 Common Stock (3201) Direct
Stock Options (Right to buy) $43.66 2016-02-02 Common Stock (4000) Direct
Stock Options (Right to buy) $44.32 2017-02-01 Common Stock (4000) Direct

Footnotes

F2: Options became exercisable as to 1 share on 1/27/2006 and 800 shares on 1/27/2007, and become exercisable as to the remaining 2,400 shares in 3 equal annual installments of 800 shares beginning 1/27/2008.

F3: Options became exercisable as to 800 shares on 2/2/2007, and become exercisable as to the remaining 3,200 shares in 4 equal annual installments of 800 shares beginning 2/2/2008.

F4: Options become exercisable in 5 equal annual installments of 800 shares beginning 2/1/2008.

F1: Options became exercisable as to 664 shares on 02/05/2007, and become exercisable as to the remaining 4,720 shares on 02/05/2008.