RYDER SYSTEM INC — Director's Dealing 2016

May 13, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RYDER SYSTEM INC (R)
CIK: 0000085961
Period of Report: 2016-05-11

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-05-11	common stock	M	7080	$60.41	Acquired	16413	Direct
2016-05-11	common stock	S	7080	$70.092	Disposed	9333	Direct
2016-05-11	common stock	S	2333	$70.1115	Disposed	7000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-05-11	Stock Option (right to buy)	$60.41	M	7080	Disposed	2023-09-15	common stock (7080.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
common stock	74	Indirect

Footnotes

F1: Includes 14 shares of common stock acquired by the reporting person under the Company's dividend reinstatement plan since the date of the reporting person's last Section 16 filing.

F2: This reflects the weighted average price at which the shares were sold. The sale prices ranged from $70.03 to $70.18.

F3: 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.

F4: This reflects the weighted average price at which the shares were sold. The sale prices ranged from $70.06 to $70.15.

F5: The options, representing the right to purchase 10,620 shares, vests in accordance with the following schedule: 3,540 vested on September 16, 2014, 3,540 vested on September 16, 2015 and 3,540 will vest on September 16, 2016.