Form 4: Ryder Executive Boosts Stake with Stock Grants

Ryder System Inc.'s President of Global FMS, Thomas M. Havens, reported significant stock acquisitions and tax-related dispositions following the vesting of restricted stock awards.

Summary

• Thomas M. Havens, President, Global FMS at Ryder System Inc., reported multiple transactions involving common stock.
• On February 6, 2026, Havens acquired 18,780 shares of common stock from performance-based restricted stock rights (PBRSRs) that vested upon Board approval. The filing notes that 18,870 shares were earned from a grant of 11,199 shares on February 10, 2023.
• On the same date, 7,422 shares of common stock were disposed of at a price of $217.5 per share to cover tax obligations related to the vesting of the PBRSRs.
• Also on February 6, 2026, Havens acquired 4,413 shares of common stock from time-based restricted stock rights (TVRSRs) granted by the company, which vest ratably over three years.
• On February 7, 2026, 729 shares of common stock were disposed of at a price of $217.5 per share for tax payments due upon the vesting of TVRSRs granted on February 7, 2025.
• Following these transactions, Havens beneficially owns 47,520 shares of Ryder System Inc. common stock.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive signal. While tax-related sales occur, the underlying acquisition of shares through vesting indicates continued executive alignment and the achievement of performance milestones, which is generally favorable.

Positives

• Thomas M. Havens acquired a net of 15,042 shares (18,780 PBRSRs + 4,413 TVRSRs 7,422 PBRSR tax 729 TVRSR tax) of Ryder System Inc. common stock through vesting awards, indicating continued equity participation and alignment with shareholder interests.
• The vesting of performance-based restricted stock rights (PBRSRs) suggests the achievement of performance targets set by the company's Board.

Negatives

• A total of 8,151 shares (7,422 + 729) were disposed of to cover tax liabilities, which is a common occurrence with equity compensation but reduces the direct shareholding.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that insider transactions, particularly those involving equity compensation vesting, are common across industries. While these filings provide transparency into executive holdings, they typically reflect pre-scheduled compensation events rather than discretionary trading based on new strategic insights. The logistics and transportation sector, where Ryder operates, frequently uses such equity incentives to align management with long-term company performance.

Stakeholder Impact

• Shareholders: Increased transparency regarding executive stock ownership and compensation structure.
• Employees: No direct impact, but reflects standard executive compensation practices.
• Management: Thomas M. Havens' equity stake remains substantial, aligning his interests with long-term company performance.

Key Dates

Recommendation

This Form 4 filing details routine executive compensation events (vesting of restricted stock and subsequent tax withholdings). It does not provide new fundamental information about Ryder System Inc.'s operational performance, strategic direction, or financial health that would warrant a change in investment recommendation. The transactions are expected and reflect pre-existing compensation plans, thus maintaining a 'hold' recommendation is appropriate based solely on this filing.

Keywords

Ryder System Inc., R, Form 4, Insider Trading, Stock Grant, Restricted Stock, Equity Compensation, Thomas M. Havens, Executive Compensation, Share Ownership