LANDSTAR SYSTEM INC — Director's Dealing 2012

Mar 13, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LANDSTAR SYSTEM INC (LSTR)
CIK: 0000853816
Period of Report: 2012-03-09

Reporting Person: Kneller Michael K (VP General Counsel & Secy)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-03-09	Common Stock	M	40000	$43.66	Acquired	55347	Direct
2012-03-09	Common Stock	F	34377	$55.56	Disposed	20970	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-03-09	Stock Options (Right to Buy)	$43.66	M	40000	Disposed	2016-02-02	Common Stock (40000)	Direct

Footnotes

F1: Represents shares withheld to pay the exercise price and tax withholding obligations.

F2: Options became exercisable as to 13,334 on 2/2/2007 and 13,333 each on 2/2/2008 and 2/2/2009.