LANDSTAR SYSTEM INC — Director's Dealing 2014

Mar 12, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LANDSTAR SYSTEM INC (LSTR)
CIK: 0000853816
Period of Report: 2014-03-10

Reporting Person: Beacom Joseph J (VP, CSO, COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-03-10	Common Stock	M	2777	$32.13	Acquired	32127	Direct
2014-03-10	Common Stock	M	1600	$43.66	Acquired	33727	Direct
2014-03-10	Common Stock	M	6375	$41.57	Acquired	40102	Direct
2014-03-10	Common Stock	M	15000	$39.32	Acquired	55102	Direct
2014-03-10	Common Stock	F	17699	$61.57	Disposed	37403	Direct
2014-03-10	Common Stock	S	6800	$61.3839	Disposed	30603	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-03-10	Stock Options (Right to Buy)	$32.13	M	2777	Disposed	2015-01-27	Common Stock (2777)	Direct
2014-03-10	Stock Options (Right to Buy)	$43.66	M	1600	Disposed	2016-02-02	Common Stock (1600)	Direct
2014-03-10	Stock Options (Right to Buy)	$41.57	M	6375	Disposed	2018-01-02	Common Stock (6375)	Direct
2014-03-10	Stock Options (Right to Buy)	$39.32	M	15000	Disposed	2019-01-02	Common Stock (15000)	Direct

Footnotes

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

F2: The price reported is the weighted average sales price for the transactions reported. The prices received ranged from $61.27 to $61.86. The reporting person will provide to the issuer, a security holding of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each price within the range.

F3: Options became exercisable as to 659 shares on each of 01/27/2006, 01/27/2007 and 01/27/2008, and as to 800 shares on 01/27/2010.

F4: Options became exercisable as to 800 shares each on 02/02/2010 and 02/02/2011.

F5: Options became exercisable as to 1,565 shares on 01/02/2011 and as to 2,405 shares each on 01/02/2012 and 01/02/2013.