RYDER SYSTEM INC — Director's Dealing 2015

Feb 17, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RYDER SYSTEM INC (R)
CIK: 0000085961
Period of Report: 2015-02-12

Reporting Person: JONES KAREN M. (EVP & Chief Marketing Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-02-12	Stock Option (right to buy)	$93.51	A	9750	Acquired	2025-02-11	Common Stock (9750)	Direct
2015-02-12	Performance-Based Restricted Stock Rights	$0.00	A	1925	Acquired		Common Stock (1925)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	7000	Direct

Footnotes

F1: The stock options vest in three equal installments on February 12, 2016, February 12, 2017 and February 12, 2018.

F2: The PBRSRs represent a contingent right to receive that number of shares of Ryder common stock equal to a maximum of 125% of the number of PBRSRs granted based on the Company achieving certain threshold, target or maximum performance goals.

F3: This amount represents the number of shares that will be earned assuming target performance levels.

F4: The performance cycle for one half of the performance-based restricted stock rights (PBRSRs) is segmented into three performance periods of one, two and three years. The performance period for the other half is segmented into three equal one-year performance periods. The performance cycle ends on December 31, 2017. PBRSRs that do not vest will be cancelled.