LANDSTAR SYSTEM INC — Director's Dealing 2012

Mar 5, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LANDSTAR SYSTEM INC (LSTR)
CIK: 0000853816
Period of Report: 2012-03-01

Reporting Person: GERKENS HENRY H (Director, Chairman,President & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-03-01	Common Stock	M	97710	$43.66	Acquired	191581	Direct
2012-03-01	Common Stock	M	24744	$44.32	Acquired	216325	Direct
2012-03-01	Common Stock	M	128523	$41.57	Acquired	344848	Direct
2012-03-01	Common Stock	F	215833	$54.71	Disposed	129015	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-03-01	Stock Options (Right to Buy)	$43.66	M	97710	Disposed	2016-02-02	Common Stock (97710)	Direct
2012-03-01	Stock Options (Right to Buy)	$44.32	M	24744	Disposed	2017-02-01	Common Stock (24744)	Direct
2012-03-01	Stock Options (Right to Buy)	$41.57	M	128523	Disposed	2018-01-02	Common Stock (128523)	Direct

Footnotes

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

F2: Options became exercisable as to 33,334 on 02/02/2007, 33,333 on 02/02/2008 and 31,043 on 02/02/20009.

F3: Options became exercisable as to 9,000 each on 02/01/2008 and 02/01/2009 and 6,744 on 02/01/2010.