SEC FORM 4

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

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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).

1. Name and Address of Reporting Person^*

MCCULLOUGH THOMAS A

(Last)

(First)

(Middle)

C/O DST SYSTEMS

333 WEST 11TH ST 5TH FL

(Street)

KANSAS CITY

64105

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
DST SYSTEMS INC [ DST ]

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

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Executive Vice President & COO

3. Date of Earliest Transaction (Month/Day/Year)
04/30/2007

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	04/30/2007		M		25,833	A	$49.905	488,225	D
Common Stock	04/30/2007		F		5,068	D	$80.035	483,157	D
Common Stock	04/30/2007		S		20,765	D	$78.52⁽¹⁾	462,392	D
Common Stock	04/30/2007		M		61,170	A	$48.23	523,562	D
Common Stock	04/30/2007		F		10,562	D	$80.035	513,000	D
Common Stock	04/30/2007		S		50,608	D	$78.52⁽¹⁾	462,392	D
Common Stock	04/30/2007		M		40,930	A	$55.9688	503,322	D
Common Stock	04/30/2007		F		33,970	D	$80.035	469,352	D
Common Stock	04/30/2007		M		94,420	A	$45.75	563,772	D
Common Stock	04/30/2007		F		71,547	D	$80.035	492,225	D
Common Stock	04/30/2007		M		16,890	A	$54.14	509,115	D
Common Stock	04/30/2007		F		13,800	D	$80.035	495,315	D
Common Stock	04/30/2007		M		148,410	A	$43.935	643,725	D
Common Stock	04/30/2007		F		110,555	D	$80.035	533,170	D
Common Stock	04/30/2007		M		12,430	A	$47.155	545,600	D
Common Stock	04/30/2007		F		9,542	D	$80.035	536,058	D

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Option to Purchase	$43.905	04/30/2007		M			25,833	07/02/2003	02/28/2010	Common Stock	25,833	$0	0	D
Option to Purchase	$48.23	04/30/2007		M			61,170	05/14/2005	05/14/2012	Common Stock	61,170	$0	0	D
Option to Purchase	$55.9688	04/30/2007		M			40,930	11/14/2003	11/14/2010	Common Stock	40,930	$0	0	D
Option to Purchase	$45.75	04/30/2007		M			94,420	05/08/2004	05/08/2011	Common Stock	94,420	$0	0	D
Option to Purchase	$54.14	04/30/2007		M			16,890	07/10/2004	07/10/2011	Common Stock	16,890	$0	0	D
Option to Purchase	$43.935	04/30/2007		M			148,410	11/13/2004	11/13/2011	Common Stock	148,410	$0	0	D
Option to Purchase	$47.155	04/30/2007		M			12,430	01/08/2005	01/08/2012	Common Stock	12,430	$0	0	D

Explanation of Responses:

1. Price shown is an average of the prices of a vast array of individual sales. The sales prices ranged from $78.20 to $78.98.

	Randall D. Young for Thomas A. McCullough by power of attorney.	05/02/2007
	** 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.
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