EXPD Insider Filing: Blacker Accrues RSU Dividends, Keeps 11K Share Stake

Rhea-AI Filing Summary

Expeditors International (NASDAQ: EXPD) filed a Form 4 on 29 June 2025 reporting routine equity accruals by Kelly K. Blacker, President, Global Geographies.

On 16 June 2025 Blacker automatically received 106.185 dividend-equivalent rights tied to her 2023-2025 restricted stock-unit (RSU) grants. These were coded “A” (acquisition) and reflect unpaid cash dividends converted into additional RSU fractions at a reference price of $115.11 per underlying share. No common shares were sold or transferred.

Following the update, Blacker directly owns 11,020.3318 common shares and derivative holdings of 24.104, 108.996 and 62.17 dividend-equivalent rights corresponding to the 2023, 2024 and 2025 RSU grants, respectively. The filing contains no 10b5-1 plan adoption, no disposition of stock and no changes in control; it simply records standard vesting mechanics required under Section 16.

Insights

Insider Trading Analyst

TL;DR: Minor, automatic RSU dividend credits—no strategic signal.

The disclosure shows an immaterial ~$12k value addition (106.185 rights × $115.11) to Blacker’s existing awards. Because it is a mandatory dividend-equivalent adjustment—rather than an elective open-market purchase—the filing neither strengthens nor weakens the investment case. With Blacker still holding roughly 11k shares, ownership continuity remains intact. Investors should view this as housekeeping, not directional insight into EXPD’s fundamentals.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider Blacker Kelly K

Role President, Global Geographies

Type	Security	Shares	Price	Value
Grant/Award	Dividend Equivalent Rights - 2023 RSUs	5.243	$115.11	$603.52
Grant/Award	Dividend Equivalent Rights - 2024 RSUs	38.772	$115.11	$4K
Grant/Award	Dividend Equivalent Rights - 2025 RSUs	62.17	$115.11	$7K
holding	Common Stock	--	--	--

Holdings After Transaction: Dividend Equivalent Rights - 2023 RSUs — 24.104 shares (Direct); Dividend Equivalent Rights - 2024 RSUs — 108.996 shares (Direct); Dividend Equivalent Rights - 2025 RSUs — 62.17 shares (Direct); Common Stock — 11,020.332 shares (Direct)

Footnotes (1)

1. Each dividend equivalent right represents a contingent right to receive the economic equivalent of one common share of the Issuer. The dividend equivalent rights accrued in respect of the 2023 grant of restricted stock units and vest proportionately with the restricted stock units to which they relate. Each dividend equivalent right represents a contingent right to receive the economic equivalent of one common share of the Issuer. The dividend equivalent rights accrued in respect of the 2024 grant of restricted stock units and vest proportionately with the restricted stock units to which they relate. Each dividend equivalent right represents a contingent right to receive the economic equivalent of one common share of the Issuer. The dividend equivalent rights accrued in respect of the 2025 grant of restricted stock units and vest proportionately with the restricted stock units to which they relate.

Form 4 Insider Transactions: What Each Field Means →

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Blacker Kelly K

(Last) (First) (Middle)

STERLING PLAZA 2, 3RD FLOOR

3545 FACTORIA BLVD SE

(Street)

BELLEVUE WA 98006

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
EXPEDITORS INTERNATIONAL OF WASHINGTON INC [ EXPD ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President, Global Geographies

3. Date of Earliest Transaction (Month/Day/Year)
06/16/2025

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock								11,020.3318	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Dividend Equivalent Rights - 2023 RSUs	(1)	06/16/2025		A		5.243		(1)	(1)	Common Stock	5.243	$115.11	24.104	D
Dividend Equivalent Rights - 2024 RSUs	(2)	06/16/2025		A		38.772		(2)	(2)	Common Stock	38.772	$115.11	108.996	D
Dividend Equivalent Rights - 2025 RSUs	(3)	06/16/2025		A		62.17		(3)	(3)	Common Stock	62.17	$115.11	62.17	D

Explanation of Responses:

1. Each dividend equivalent right represents a contingent right to receive the economic equivalent of one common share of the Issuer. The dividend equivalent rights accrued in respect of the 2023 grant of restricted stock units and vest proportionately with the restricted stock units to which they relate.

2. Each dividend equivalent right represents a contingent right to receive the economic equivalent of one common share of the Issuer. The dividend equivalent rights accrued in respect of the 2024 grant of restricted stock units and vest proportionately with the restricted stock units to which they relate.

3. Each dividend equivalent right represents a contingent right to receive the economic equivalent of one common share of the Issuer. The dividend equivalent rights accrued in respect of the 2025 grant of restricted stock units and vest proportionately with the restricted stock units to which they relate.

	Diane Heffner, Stock Plan Administrator, attorney-in-fact	06/18/2025
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider activity did [[**EXPD**]] report on 16 June 2025?

President Kelly K. Blacker acquired 106.185 dividend-equivalent rights linked to previously awarded RSUs, coded as an “A” (acquisition).

Were any [[**EXPD**]] shares sold in this Form 4 filing?

No. The filing reports only the automatic acquisition of dividend-equivalent rights; no sales or transfers were disclosed.

How many common shares does Kelly Blacker own after the reported transaction?

The Form 4 states Blacker directly holds 11,020.3318 common shares of [[**EXPD**]].

What is Kelly Blacker’s role at [[**EXPD**]]?

She is the company’s President, Global Geographies, an executive officer position.

At what reference price were the dividend-equivalent rights recorded?

The rights were valued at a reference price of $115.11 per underlying share.