[Form 4] FedEx Corporation Insider Trading Activity

Rhea-AI Filing Summary

FedEx Corporation (FDX) – Form 4 insider transaction

Director Paul S. Walsh exercised options for 3,610 common shares at an exercise price of $142.11 and immediately sold the same number of shares on 07/08/2025 at a weighted-average price of $238.29, generating gross proceeds of roughly $0.86 million. After the transactions, his direct ownership declined from 19,123 to 15,513 shares. All related stock options, which were due to expire on 09/28/2025, have now been fully exercised, leaving zero derivative holdings. The filing also adjusts ownership by three shares acquired through dividend reinvestment.

The sale represents about 19% of Walsh’s personally held stake but is immaterial relative to FedEx’s total shares outstanding and therefore is unlikely to move the stock on its own.

Insights

Financial Analyst

TL;DR: Routine option exercise and same-day sale; modest size, neutral impact for FDX shareholders.

The $0.86 million disposition reflects a typical liquidity event following option exercise rather than a strategic reduction. Walsh retains 15,513 shares, maintaining a meaningful alignment with investors. The transaction accounts for a negligible fraction of FedEx’s ~250 million shares outstanding, so it should not materially influence valuation or signal fundamental concerns. Insider activity monitors may note the 19% personal reduction, but the absolute volume is too small to imply bearish sentiment at the corporate level.

Corporate Governance Expert

TL;DR: Compliance-clean filing; no red flags, standard Rule 10b5-1 disclosure noted.

The presence of a 10b5-1 plan checkbox indicates the sale may have been pre-arranged, supporting good governance practices. The form is timely, includes full option footnote explanations, and discloses weighted-average pricing, aligning with SEC best-practice transparency. No additional derivatives remain, reducing potential future dilution from this director’s grants.

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^*

WALSH PAUL S

(Last) (First) (Middle)

CHERTSEY ROAD

WOKING

(Street)

SURREY GU21 4YH

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
FEDEX CORP [ FDX ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
07/08/2025

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	07/08/2025		M		3,610	A	$142.11	19,123(1)	D
Common Stock	07/08/2025		S		3,610	D	$238.2939(2)	15,513	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
Stock Option (Right to Buy)	$142.11	07/08/2025		M			3,610	(3)	09/28/2025	Common Stock	3,610	$0	0	D

Explanation of Responses:

1. Ownership has been adjusted to reflect 3 shares that were acquired via dividend reinvestment as a result of dividends paid to all shareholders.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $238.2906 to $238.3600, inclusive. The reporting person undertakes to provide to FedEx Corporation, any security holder of FedEx Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote to this Form 4.

3. These options first exercisable one year from date of grant.

	Alana L. Griffin, Attorney-in-Fact for Paul Walsh	07/08/2025
	** 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 transaction did FedEx (FDX) director Paul S. Walsh report?

Walsh exercised options for 3,610 shares at $142.11 and sold those shares the same day at a weighted-average $238.29.

How many FedEx shares does Paul Walsh now own after the sale?

He directly holds 15,513 shares following the reported transactions.

What were the gross proceeds from the insider sale of FedEx shares?

Approximately $0.86 million (3,610 shares × $238.29 average price).

Were the transactions part of a 10b5-1 trading plan?

The form includes the Rule 10b5-1 checkbox, indicating the sale was likely executed under a pre-arranged trading plan.

Is the insider sale considered material to FedEx investors?

Given FedEx’s large float, the 3,610-share sale is immaterial and should not affect the company’s valuation.

What was the expiration date of the exercised stock options?

The options were set to expire on 09/28/2025 and are now fully exercised.