Sec Form 4 Filing - YOUNG RANDALL D @ DST SYSTEMS INC - 2012-05-03

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person YOUNG RANDALL D 2. Issuer Name and Ticker or Trading Symbol DST SYSTEMS INC [ DST] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) Vice Pres, Gen Counsel & Sec (Last) (First) (Middle) 333 WEST 11TH STREET 5TH FLOOR 3. Date of Earliest Transaction (MM/DD/YY) 05/03/2012 (Street) KANSAS CITY, MO64105 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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 05/03/2012 M 18,550 A $ 43.825 46,362 D Common Stock 05/03/2012 F 1,754 ( 1 ) D $ 55.665 44,608 D Common Stock 05/03/2012 S 16,796 D $ 55.33 ( 3 ) 27,812 D Common Stock 2,615 ( 2 ) I ESOP

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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 7. Title and Amount of Underlying Securities (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 of Derivative Security: 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 Employee Stock Option $ 43.825 05/03/2012 M 18,550 ( 4 ) 12/14/2019 Common Stock 18,550 $ 43.825 9,250 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other YOUNG RANDALL D 333 WEST 11TH STREET 5TH FLOOR KANSAS CITY, MO64105 Vice Pres, Gen Counsel & Sec Signatures Randall D. Young 05/04/2012 Signature of Reporting Person Date

Explanation of Responses:

( 1 )This number is an aggregate of the number of shares of Issuer common stock that were withheld from the shares being purchased in order to satisfy the Reporting Person's tax withholding obligation. The withholding of shares ("Allowable Transactions") occurred in accordance with procedures of the Compensation Committee of the Issuer's Board of Directors, which approved the Reporting Person's Allowable Transactions at the time it granted the options to him. ( 2 )2,615 shares are allocated to the reporting person's account in The Employee Stock Ownership Plan of issuer. The acquisition is exempt pursuant to Rule 16b-3(c). ( 3 )Price shown is an average of the prices of a vast array of individual sales. The sales prices ranged from $55.24 to $55.41. ( 4 )9,300 shares became exercisable on December 14, 2010; and 9,250 shares became exercisable on December 14, 2011.

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).

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