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^*

STEBBINS PAUL H

(Last)

(First)

(Middle)

C/O WORLD FUEL SERVICES CORPORATION

9800 N.W. 41ST STREET, SUITE 400

(Street)

MIAMI

33178

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
WORLD FUEL SERVICES CORP [ INT ]

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

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	CEO

3. Date of Earliest Transaction (Month/Day/Year)
06/23/2006

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	06/23/2006		M		28,980	A	$10.35	649,136	D
Common Stock	06/23/2006		M		37,208	A	$5.375	686,344	D
Common Stock	06/23/2006		M		28,560	A	$10.5	714,904	D
Common Stock	06/23/2006		F		18,374⁽¹⁾	D	$43.53⁽²⁾	696,530	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)
Stock Option	$10.35	06/23/2006		M			28,980⁽³⁾	04/30/2004⁽⁴⁾	04/30/2008	Common Stock	28,980	$0⁽⁵⁾	0	D
Stock Option	$5.375	06/23/2006		M			37,208⁽⁶⁾	01/01/2002⁽⁷⁾	01/04/2009	Common Stock	37,208	$0⁽⁵⁾	0	D
Stock Option	$10.5	06/23/2006		M			28,560⁽⁸⁾	01/01/1999⁽⁹⁾	01/01/2008	Common Stock	28,560	$0⁽⁵⁾	0	D

Explanation of Responses:

1. The issuer withheld a sufficient amount of option shares in order to pay the exercise price for the option exercise reported on Table II of this Form.

2. The number shown is the average of the high and low prices for the issuer's common stock on the NYSE on the date that the options were exercised.

3. These options were previously reported as covering 14,490 shares at an exercise price of $20.70 per share, but were adjusted to reflect the stock split on February 1, 2005.

4. These options vested in three equal installments over a three-year period, commencing April 30, 2004.

5. These options were granted to the reporting person, without payment therefor, as compensation for serving as an executive officer of the issuer.

6. These options were previously reported as covering 18,604 shares at an exercise price of $10.75 per share, but were adjusted to reflect the stock split on February 1, 2005.

7. These options vested in two equal installments over a two-year period, commencing January 1, 2002.

8. These options were previously reported as covering 14,280 shares at an exercise price of $21.00 per share, but were adjusted to reflect the stock split on February 1, 2005.

9. These options vested in three equal installments over a three-year period, commencing January 1, 1999.

	/s/ Paul H. Stebbins	07/05/2006
	** 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).
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