RYDER SYSTEM INC — Director's Dealing 2014

May 8, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RYDER SYSTEM INC (R)
CIK: 0000085961
Period of Report: 2014-05-06

Reporting Person: Cooke Dennis C (President, Global FMS)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-05-06	Common Stock	M	4010	$58.43	Acquired	19010	Direct
2014-05-06	Common Stock	M	7465	$53.63	Acquired	26475	Direct
2014-05-06	Common Stock	S	11475	$82.3821	Disposed	15000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-05-06	Stock Option (right to buy)	$58.43	M	4010	Disposed	2018-07-22	Common Stock (4010)	Direct
2014-05-06	Stock Option (right to buy)	$53.63	M	7465	Disposed	2019-02-10	Common Stock (7465)	Direct

Footnotes

F1: This reflects the weighted average price at which the shares were sold. The sale prices ranged from $82.24 to $82.56.

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 12,030 shares, vests in accordance with the following schedule: 4,010 vested on July 22, 2012, 4,010 vested on July 22, 2013 and 4,010 will vest on July 22, 2014.

F4: The option, representing the right to purchase 22,395 shares, vests in accordance with the following schedule: 7,465 vested on February 10, 2013, 7,465 vested on February 10, 2014 and 7,465 will vest on February 10, 2015.