RYDER SYSTEM INC — Director's Dealing 2011

May 9, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RYDER SYSTEM INC (R)
CIK: 0000085961
Period of Report: 2011-05-06

Reporting Person: GREENE GREGORY F (EVP and CAO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-05-06	Common Stock	M	3180	$32.71	Acquired	13601	Direct
2011-05-06	Common Stock	M	9074	$32.98	Acquired	22675	Direct
2011-05-06	Common Stock	S	12254	$53.06	Disposed	10421	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-05-06	Stock Option (right to buy)	$32.71	M	3180	Disposed	2016-02-06	Common Stock (3180)	Direct
2011-05-06	Stock Option (right to buy)	$32.98	M	9074	Disposed	2017-02-10	Common Stock (9074)	Direct

Footnotes

F1: This reflects the weighted average price at which the shares were sold. The sale prices ranged from $53.00 to $53.195.

F2: The Reporting Person will provide, upon request by the Commisssion staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.

F3: The option, representing the right to purchase 27,270 shares, vests in accordance with the following schedule: 9,090 vested on February 6, 2010, 9,090 vested on February 6, 2011 and 9,090 will vest on February 6, 2012.

F4: The option, representing the right to purchase 27,220 shares, vests in accordance with the following schedule: 9,074 vested on February 10, 2011, 9,073 will vest on February 10, 2012 and 9,073 will vest on February 10, 2013.