RYDER SYSTEM INC — Director's Dealing 2012

Feb 15, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RYDER SYSTEM INC (R)
CIK: 0000085961
Period of Report: 2012-02-10

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-02-10	Common Stock	M	25000	$42.725	Acquired	125998	Direct
2012-02-10	Common Stock	S	23800	$53.7427	Disposed	102198	Direct
2012-02-10	Common Stock	S	1200	$54.2017	Disposed	100998	Direct
2012-02-10	Common Stock	F	630	$53.63	Disposed	100368	Direct
2012-02-13	Common Stock	M	6437	$42.725	Acquired	106805	Direct
2012-02-13	Common Stock	S	6437	$55.00	Disposed	100368	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-02-10	Stock Option (right to buy)	$42.725	M	25000	Disposed	2013-02-13	Common Stock (25000)	Direct
2012-02-10	Stock Option (right to buy)	$53.63	A	111965	Acquired	2019-02-10	Common Stock (111965)	Direct
2012-02-10	Performance-Based Restricted Stock Rights	$0.00	A	22840	Acquired		Common Stock ()	Direct
2012-02-13	Stock Option (right to buy)	$42.725	M	6437	Disposed	2013-02-13	Common Stock (6437)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	30081	Indirect
Common Stock	5136	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 5, 2011.

F2: Includes 536 shares of common stock acquired by the reporting person under the Company's dividend reinbursement plan.

F3: This reflects the weighted average price at which the shares were sold. The sales prices ranged from $53.13 to $54.12.

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: This reflects the weighted average price at which the shares were sold. The sales prices ranged from $54.13 to $54.28.

F6: Represents shares of common stock withheld by the Company for the payment of taxes due upon the vesting of restricted stock rights granted to the reporting person on February 10, 2010.

F7: Includes 169 shares of common stock acquired by the reporting person under the Company's dividend reinvestment plan.

F8: The option, representing the right to purchase 175,000 shares, vests in accordance with the following schedule: 58,334 vested on February 13, 2007, 58,333 vested on February 13, 2008 and 58,333 vested on February 13, 2009.

F9: The stock options vest in three equal installments on February 10, 2013, February 10, 2014 and February 10, 2015.

F10: The performance cycle for the performance-based restricted stock rights (PBRSRs) is segmented into three equal performance periods of one, two and three years. The PBRSRs earned for each performance period will vest at the end of the three-year cycle ending on December 31, 2014. PBRSRs that do not vest will be cancelled.

F11: The PBRSRs represent a contingent right to receive that number of shares of Ryder common stock equal to 25% to 125% of the number of PBRSRs based on the Company achieving certain threshold, target or maximum performance goals.