Ryder System (NYSE: R) CEO exercises options and sells over 40k shares

Rhea-AI Filing Summary

Ryder System Chair and CEO Robert E. Sanchez reported multiple equity transactions on common stock. He exercised stock options for 104,390 shares of common stock at an exercise price of $76.49 per share. To cover the exercise price or related tax obligations, 62,611 shares were disposed of at $224.90 per share in a tax-withholding transaction. He also completed open-market sales totaling 41,779 shares at weighted average prices of $223.28, $223.86, and $225.12 per share, with detailed price ranges described in the filing footnotes. Following these direct transactions, he continued to hold additional shares both directly and through various plans and a revocable trust.

Insights

Equity Compensation & Insider Transactions Analyst

CEO exercised options and sold shares, mixing acquisition with tax and market sales.

The Chair and CEO of Ryder System, Robert E. Sanchez, exercised stock options for 104,390 shares of common stock at an exercise price of $76.49 per share. This converted a derivative award into directly held shares, a typical step as options approach or pass their vesting and life cycle.

To fund the exercise price or satisfy tax obligations, 62,611 shares were used in a tax-withholding disposition at $224.90 per share under transaction code F. He also executed open-market sales of 41,779 shares at weighted average prices of $223.28, $223.86, and $225.12 per share, with specific price ranges detailed in the notes.

After these transactions, Sanchez still held common stock directly and through a revocable trust and company savings and deferred compensation plans. The filing shows a net reduction in directly held shares from the sales, but the overall impact on his total economic exposure depends on the size of his indirect holdings and future equity awards.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

SANCHEZ ROBERT E

(Last) (First) (Middle)

2333 PONCE DE LEON BLVD.

SUITE 700

(Street)

CORAL GABLES FL 33134

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
RYDER SYSTEM INC [ R ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chair and CEO

3. Date of Earliest Transaction (Month/Day/Year)
02/24/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
common stock	02/24/2026		M		104,390	A	$76.49	145,218	D
common stock	02/24/2026		F		62,611	D	$224.9	82,607	D
common stock	02/24/2026		S		40,841	D	$223.28(1)	41,766	D
common stock	02/24/2026		S		676	D	$223.86(2)	41,090	D
common stock	02/24/2026		S		262	D	$225.12(3)	40,828	D
common stock								492,982	I	The Robert E. Sanchez Revocable Trust
common stock								28,444	I	By Ryder Employee Savings Plan
common stock								3,710	I	By Ryder Deferred Compensation Plan

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to buy)	$76.49	02/24/2026		M			104,390	(4)	02/09/2027	common stock	104,390	$0	0	D

Explanation of Responses:

1. This reflects the weighted average price at which the shares were sold. The sale price ranged from $222.78 to $223.76. 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 price.

2. This reflects the weighted average price at which the shares were sold. The sale price ranged from $223.81 to $224.07. 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 price.

3. This reflects the weighted average price at which the shares were sold. The sale price ranged from $225.10 to $225.13. 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 price.

4. The stock options vest in three equal installments on February 10, 2018, February 10, 2019 and February 10, 2020.

Remarks:

	/s/ Robert D. Fatovic, by power of attorney	02/26/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Ryder System (R) CEO Robert E. Sanchez do in this Form 4 filing?

Robert E. Sanchez exercised stock options for 104,390 Ryder System shares, then used 62,611 shares to cover exercise or tax obligations and sold 41,779 shares in open-market transactions at weighted average prices above $223 per share.

How many Ryder System (R) shares did the CEO acquire through option exercise?

The CEO acquired 104,390 shares of Ryder System common stock by exercising stock options at an exercise price of $76.49 per share. This converted previously granted derivative awards into directly owned common shares, increasing his direct holdings before subsequent dispositions.

How many Ryder System (R) shares did the CEO sell in the market?

He sold 41,779 Ryder System common shares in open-market transactions. The sales occurred at weighted average prices of $223.28, $223.86, and $225.12 per share, with each trade spanning narrow price ranges disclosed in the filing’s footnotes.

What does the tax-withholding transaction mean in Ryder System (R) CEO’s Form 4?

The Form 4 shows a code F transaction where 62,611 Ryder System shares were disposed of at $224.90 per share. Code F indicates the shares were used to pay the option exercise price or satisfy related tax liabilities, not an ordinary open-market sale.

Does Ryder System (R) CEO Robert E. Sanchez still hold shares after these transactions?

Yes. After exercising options, tax-withholding, and open-market sales, he continued to own Ryder System common stock directly. He also held additional shares indirectly through a revocable trust, the Ryder Employee Savings Plan, and the Ryder Deferred Compensation Plan.

How are the Ryder System (R) CEO’s sale prices described in this Form 4?

Each sale line lists a weighted average price, such as $223.28 or $225.12 per share. Footnotes state that actual sale prices ranged within narrow bands and that full trade-by-trade price details are available upon request from the reporting person.