Steve W. Martin - Jul 15, 2025 Form 4 Insider Report for RYDER SYSTEM INC (R)

Role: EVP of DTS
Signature: /s/ Robert D. Fatovic, by power of attorney
Stock symbol: R
Transactions as of: Jul 15, 2025
Transactions value $: -$65,432
Form type: 4
Date filed: 7/30/2025, 06:01 PM
Previous filing: Feb 11, 2025
Next filing: Aug 26, 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Martin Steve W.	EVP of DTS	2333 PONCE DE LEON BLVD., SUITE 700, CORAL GABLES	/s/ Robert D. Fatovic, by power of attorney	2025-07-30	0002012684

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	R	common stock	Options Exercise		+376	+1.28%		29.8K	Jul 15, 2025	Direct	F1
transaction	R	common stock	Disposed to Issuer	-$65.4K	-376	-1.25%	$174.02	29.7K	Jul 15, 2025	Direct	F2
holding	R	common stock						2.64K	Jul 15, 2025	By Ryder Employee Savings Plan
holding	R	common stock						125	Jul 15, 2025	By Ryder Deferred Compensation Plan

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	R	Phantom Stock Units - Deferred Compensation Plan	Options Exercise		-376	-75.05%		125	Jul 15, 2025	common stock	376		Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Pursuant to terms of the Ryder System, Inc. Deferred Compensation Plan, effective January 1, 1997, the reporting person made an irrevocable election in 1998 to defer a portion of his compensation and receive an in-service lump sum cash distribution in 2025, which distribution was automatically made on July 15, 2025. On July 15, 2025, 537.545 of the reporting person's phantom stock units were equivalent to approximately 376 shares of common stock.
F2	Includes 269 shares of common stock acquired by the reporting person under the Company's dividend reinvestment plan and 9 shares acquired under the Company's Employee Stock Purchase Plan since the date of the reporting person's last Section 16 filing.

Content

Pursuant to terms of the Ryder System, Inc. Deferred Compensation Plan, effective January 1, 1997, the reporting person made an irrevocable election in 1998 to defer a portion of his compensation and receive an in-service lump sum cash distribution in 2025, which distribution was automatically made on July 15, 2025. On July 15, 2025, 537.545 of the reporting person's phantom stock units were equivalent to approximately 376 shares of common stock.

Includes 269 shares of common stock acquired by the reporting person under the Company's dividend reinvestment plan and 9 shares acquired under the Company's Employee Stock Purchase Plan since the date of the reporting person's last Section 16 filing.