LANDSTAR SYSTEM INC — Director's Dealing 2012

Mar 12, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LANDSTAR SYSTEM INC (LSTR)
CIK: 0000853816
Period of Report: 2012-03-08

Reporting Person: Gattoni James B (Vice President & CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-03-08	Common Stock	S	9000	$55.3492	Disposed	42600	Direct
2012-03-08	Common Stock	M	19840	$37.3088	Acquired	62440	Direct
2012-03-08	Common Stock	M	6398	$32.13	Acquired	68838	Direct
2012-03-08	Common Stock	M	27381	$38.18	Acquired	96219	Direct
2012-03-08	Common Stock	F	42577	$54.94	Disposed	53642	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-03-08	Stock Options (Right to Buy)	$37.3088	M	19840	Disposed	2015-01-03	Common Stock (19840)	Direct
2012-03-08	Stock Options (Right to Buy)	$32.13	M	6398	Disposed	2015-01-27	Common Stock (6398)	Direct
2012-03-08	Stock Options (Right to Buy)	$38.18	M	27381	Disposed	2017-01-02	Common Stock (27381)	Direct

Footnotes

F1: The price reported is the weighted average sale price for the transactions reported. The prices received ranged from $55.2150 to $55.4220. The reporting person will provide to the issuer, a security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each price within the range.

F2: Represents shares withheld to pay the exercise price and tax withholding obligations.

F3: Options became exercisable as to 6,668 on 1/3/2006, 6,586 on 1/3/2007 and 6,586 on 1/3/2008.

F4: Options became exercisable as to 1,600 on 1/27/2006, 1,599 on 1/27/2007, 1,599 on 1/27/2008 and 1,600 on 1/27/2009.