RYDER SYSTEM INC — Director's Dealing 2011

May 19, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RYDER SYSTEM INC (R)
CIK: 0000085961
Period of Report: 2011-05-16

Reporting Person: SWIENTON GREGORY T (Director, Chairman & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-05-16	Common Stock	M	81250	$44.885	Acquired	172383	Direct
2011-05-16	Common Stock	S	81250	$54.7026	Disposed	91133	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-05-16	Stock Option (right to buy)	$44.885	M	81250	Disposed	2012-02-10	Common Stock (81250)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	37787	Indirect
Common Stock	4956	Indirect

Footnotes

F1: The option exercise and stock sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan established by the Reporting Person on May 14, 2010.

F2: Includes 87 shares of common stock acquired by the reporting person under the Company's dividend reinvestment plan.

F3: This reflects the weighted average price at which the shares were sold. The sales prices ranged from $54.33 to $55.06.

F4: The Reporting Person will provide, upon request by the Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.

F5: Includes 208 shares of common stock acquired by the reporting person under the Company's dividend reinvestment plan.

F6: The option, representing the right to purchase 175,000 shares, vests in accordance with the following schedule: 58,334 vested on February 10, 2006, 58,333 vested on February 10, 2007 and 58,333 vested on February 10, 2008.