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RYDER SYSTEM INC Director's Dealing 2004

Feb 12, 2004

30770_dirs_2004-02-12_0d797e2f-427c-4341-a7c6-6a373115c372.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RYDER SYSTEM INC (R)
CIK: 0000085961
Period of Report: 2004-02-10

Reporting Person: CARSON RICHARD B (SVP-Fleet Mngt Solutions)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2004-02-10 Common Stock M 300.0000 $24.7500 Acquired 5542.0000 Direct
2004-02-10 Common Stock M 1800.0000 $23.3750 Acquired 7342.0000 Direct
2004-02-10 Common Stock M 1800.0000 $28.8750 Acquired 9142.0000 Direct
2004-02-10 Common Stock M 3000.0000 $29.6875 Acquired 12142.0000 Direct
2004-02-10 Common Stock M 8500.0000 $27.0313 Acquired 20642.0000 Direct
2004-02-10 Common Stock M 6200.0000 $19.3125 Acquired 26842.0000 Direct
2004-02-10 Common Stock M 15080.0000 $16.7188 Acquired 41922.0000 Direct
2004-02-10 Common Stock M 5000.0000 $26.8300 Acquired 46922.0000 Direct
2004-02-10 Common Stock S 41680.0000 $36.2492 Disposed 5242.0000 Direct

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2004-02-10 Stock Option (right to buy) $24.7500 M 300.0000 Disposed 2004-05-04 Common Stock (300.0000) Direct
2004-02-10 Stock Option (right to buy) $23.3750 M 1800.0000 Disposed 2005-05-03 Common Stock (1800.0000) Direct
2004-02-10 Stock Option (right to buy) $28.8750 M 1800.0000 Disposed 2006-05-01 Common Stock (1800.0000) Direct
2004-02-10 Stock Option (right to buy) $29.6875 M 3000.0000 Disposed 2006-10-01 Common Stock (3000.0000) Direct
2004-02-10 Stock Option (right to buy) $27.0313 M 8500.0000 Disposed 2009-02-17 Common Stock (8500.0000) Direct
2004-02-10 Stock Option (right to buy) $19.3125 M 6200.0000 Disposed 2010-02-17 Common Stock (6200.0000) Direct
2004-02-10 Stock Option (right to buy) $16.7188 M 15080.0000 Disposed 2010-10-02 Common Stock (15080.0000) Direct
2004-02-10 Stock Option (right to buy) $26.8300 M 5000.0000 Disposed 2009-02-14 Common Stock (5000.0000) Direct

Holdings (Non-Derivative)

Security Shares Ownership
Common Stock 809.0000 Indirect
Common Stock 1343.0000 Indirect

Footnotes

F1: Includes 2,042 shares of common stock owned by the reporting person through the Ryder System, Inc. Stock Purchase Plan for Employees.

F2: The stock options vested in three equal installments on May 5, 1995, May 5, 1996 and May 5, 1997.

F3: The stock options vested in three equal installments on May 4, 1996, May 4, 1997 and May 4, 1998.

F4: The stock options vested in three equal installments on May 2, 1997, May 2, 1998 and May 2, 1999.

F5: The stock options vested in three equal installments on October 2, 1997, October 2, 1998 and October 2, 1999.

F6: The stock options vested in three equal installments on February 18, 2000, February 18, 2001 and February 18, 2002.

F7: The stock options vested in three equal installments on February 18, 2001, February 18, 2002 and February 18, 2003.

F8: The stock options vested in three equal installments on October 3, 2001, October 3, 2002 and October 3, 2003.

F9: The stock options vested on February 15, 2003.