X0304 4 2012-02-27 0 0000109758 ARBITRON INC ARB 0001443716 Smith Steven Michael 9705 PATUXENT WOODS DRIVE COLUMBIA MD 21046 0 1 0 0 EVP, Survey Operations Common Stock 2012-02-27 4 M 0 5780 20.29 A 15093.5122 D Common Stock 2012-02-27 4 S 0 5780 34.14 D 9313.5122 D Non-Qualified Stock Option (right to buy) 20.29 2012-02-27 4 M 0 5780 0.00 D 2019-05-20 Common Stock 5780 26050 D Includes shares acquired under the issuer's ESPP in transactions that were exempt from reporting on Form 4. Information is as of February 29, 2012. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on October 28, 2011. The price in column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $34.1291 to $34.1481, inclusive. The reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range. The option, representing a right to purchase a total of 43,390 shares, became exercisable in three equal annual installments begining on May 20, 2010, which was the first anniversary of the date on which the option was granted. /s/ Timothy T. Smith Attorney in Fact for Steven M. Smith 2012-02-29