X0306 4 2012-09-27 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 2012-09-27 4 M 0 507 20.29 A 12203.4094 D Common Stock 2012-09-27 4 S 0 507 37.7038 D 11696.4094 D Non-Qualified Stock Option (right to buy) 20.29 2012-09-27 4 M 0 507 0.00 D 2019-05-20 Common Stock 507 6682 D Includes shares acquired under the issuer's ESPP in transactions that were exempt from reporting on Form 4. Information is as of September 27, 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 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 2012-09-28