LANDSTAR SYSTEM INC — Director's Dealing 2014

Nov 7, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LANDSTAR SYSTEM INC (LSTR)
CIK: 0000853816
Period of Report: 2014-11-05

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-11-05	Common Stock	M	5244	$44.32	Acquired	25508	Direct
2014-11-05	Common Stock	M	17785	$41.57	Acquired	43293	Direct
2014-11-05	Common Stock	M	22457	$39.32	Acquired	65750	Direct
2014-11-05	Common Stock	M	5600	$37.07	Acquired	71350	Direct
2014-11-05	Common Stock	F	37204	$75.90	Disposed	34146	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-11-05	Stock Options (Right to Buy)	$44.32	M	5244	Disposed	2017-02-01	Common Stock (5244)	Direct
2014-11-05	Stock Options (Right to Buy)	$41.57	M	17785	Disposed	2018-01-02	Common Stock (17785)	Direct
2014-11-05	Stock Options (Right to Buy)	$39.32	M	22457	Disposed	2019-01-02	Common Stock (22457)	Direct
2014-11-05	Stock Options (Right to Buy)	$37.07	M	5600	Disposed	2020-01-29	Common Stock (5600)	Direct

Footnotes

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

F2: Options became exercisable as to 2,500 shares on each of 02/01/2008 and 02/01/2009 and 244 shares on 02/01/2010.

F3: Options became exercisable as to 5,000 shares on each of 01/02/2009 and 01/02/2010 and 2,595 shares on each of 01/02/2011, 01/02/2012 and 01/02/2013.

F4: Options became exercisable as to 1,400 shares on each of 01/29/2011, 01/29/2012, 01/29/2013 and 01/29/2014.