LANDSTAR SYSTEM INC — Director's Dealing 2014

Feb 10, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LANDSTAR SYSTEM INC (LSTR)
CIK: 0000853816
Period of Report: 2014-02-06

Reporting Person: Thomas Larry S (Vice President - CIO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-02-06	Common Stock	M	12000	$32.13	Acquired	13197	Direct
2014-02-06	Common Stock	M	40000	$43.66	Acquired	53197	Direct
2014-02-06	Common Stock	F	41133	$56.94	Disposed	12064	Direct
2014-02-10	Common Stock	S	9815	$56.7445	Disposed	2249	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-02-06	Stock Options (Right to Buy)	$32.13	M	12000	Disposed	2015-01-27	Common Stock (12000)	Direct
2014-02-06	Stock Options (Right to Buy)	$43.66	M	40000	Disposed	2016-02-02	Common Stock (40000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	767	Indirect

Footnotes

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

F2: The price reported is the weighted average sale price for the transactions reported. The prices received ranged from $56.40 to $57.00. 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.

F3: Options became exercisable in five equal annual installments beginning on the first anniversary of the date of grant which was 01/27/2006.

F4: Options became exercisable in three equal annual installments beginning on the first anniversary of the date of grant which was 02/02/2007.