RYDER SYSTEM INC — Director's Dealing 2018

Feb 22, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RYDER SYSTEM INC (R)
CIK: 0000085961
Period of Report: 2018-02-20

Reporting Person: Fiore Timothy R. (SVP & CPO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-02-20	common stock	A	5326	—	Acquired	5499	Direct
2018-02-21	common stock	A	341	—	Acquired	5840	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-02-21	Stock Option (right to buy)	$74.72	A	4814	Acquired	2028-02-20	common stock (4814.0)	Direct
2018-02-21	Performance-Based Restricted Stock Rights	$0.0	A	2048	Acquired		common stock (2048.0)	Direct

Footnotes

F1: Represents time-based restricted stock rights granted to the reporting person by the Company, which vest ratably over a four-year term beginning on February 20, 2019.

F2: Represents time-based restricted stock rights granted to the reporting person by the Company, which vest ratably over a term of three years beginning on February 21,2019.

F3: The stock options vest in three equal installments on February 21, 2019, February 21, 2020 and February 21, 2021.

F4: The PBRSRs represent a contingent right to receive that number of shares of Ryder common stock equal to a maximum of 200% of the number of PBRSRs granted based on the Company achieving certain threshold, target or maximum performance goals.

F5: This amount represents the number of shares that will be earned assuming target performance levels.

F6: The performance cycle for the PBRSRs is three years. The performance cycle ends on December 31, 2020. PBRSRs that do not vest will be cancelled.