RYDER SYSTEM INC — Director's Dealing 2010

Feb 13, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RYDER SYSTEM INC (R)
CIK: 0000085961
Period of Report: 2010-02-10

Reporting Person: GREENE GREGORY F (EVP and Chief HR Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-02-10	Common Stock	M	3600	$0.00	Acquired	14927	Direct
2010-02-10	Common Stock	A	1825	$0.00	Acquired	16752	Direct
2010-02-10	Common Stock	F	1076	$32.985	Disposed	15676	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-02-10	Stock Option (right to buy)	$32.985	A	27220	Acquired	2017-02-10	Common Stock (27220)	Direct
2009-02-10	Performance-Based Restricted Stock Rights	$0.00	A	5730	Acquired		Common Stock (5730)	Direct
2010-02-10	Performance-Based Restricted Stock Rights	$0.00	M	3600	Disposed		Common Stock (3600)	Direct

Footnotes

F1: Represents shares of common stock acquired by the reporting person through the vesting of performance-based restricted stock rights granted on February 9, 2007.

F2: These performance-based restricted stock rights vested upon approval of the Board of Directors on February 10, 2010 based on the Company achieving a financial performance goal for the three-year period ending December 31, 2009.

F3: Includes 35 shares of common stock acquired by the reporting person under the Company's dividend reinvestment plan since the date of the reporting person's last Section 16 filing.

F4: Represents time-based restricted stock rights granted to the reporting person by the Company. The restricted stock rights vest in three equal installments on February 10, 2011, February 10, 2012 and February 10, 2013.

F5: Represents shares of common stock withheld upon the vesting of restricted stock units for the payment of the related tax liability.

F6: The stock options vest in three equal installments on February 10, 2011, February 10, 2012 and February 10, 2013.

F7: 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, 2012. Performance-based restricted stock rights that do not vest will be cancelled.