RYDER SYSTEM INC — Director's Dealing 2006

Feb 16, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RYDER SYSTEM INC (R)
CIK: 0000085961
Period of Report: 2006-02-13

Reporting Person: RENEHAN THOMAS S (EVP- FMS Sales & Marketing)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-02-13	Stock Option (right to buy)	$42.725	A	18750	Acquired	2013-02-13	Common Stock (18750)	Direct
2006-02-13	Performance-Based Restricted Stock Rights	$0.00	A	3900	Acquired		Common Stock (3900)	Direct

Footnotes

F1: The stock options vest in three equal installments on February 13, 2007, February 13, 2008 and February 13, 2009.

F2: Each performance-based restricted stock right represents a contingent right to receive one share of Ryder common stock based on the Company achieving a financial performance goal for the three-year performance period ending December 31, 2008. Performance-based restricted stock rights that do not vest on December 31, 2008 will be cancelled.