[Form 4] FedEx Corporation Insider Trading Activity

Rhea-AI Filing Summary

FedEx Corporation (FDX) – Form 4 insider activity dated 07/07/2025. Director R. Brad Martin reported two same-day transactions:

• Option exercise (Code M): 3,610 shares acquired at an exercise price of $142.11.
• Open‐market sale (Code S): 2,123 shares sold at $241.75.

After the transactions, Martin’s direct holdings rose to 8,935 common shares, up by 1,487 shares on a net basis. He continues to control sizeable indirect positions—55,000 shares via GRATs, 7,250 through the R. Brad Martin Family Foundation, and an aggregate 4,350 shares held by his spouse and three family trusts—bringing total reported beneficial ownership to roughly 75,535 shares.

The option exercise fully eliminated the derivative position (0 options remain) ahead of its 09/28/2025 expiration, lowering future dilution from this grant. The simultaneous partial sale monetised approximately $0.51 million of stock while still increasing equity exposure. Relative to FedEx’s ~250 million shares outstanding, the trade is immaterial (<0.01%), but it provides incremental insight into insider sentiment and liquidity preferences.

Positive

• Net increase of 1,487 directly held shares indicates the director retains a majority of exercised options, suggesting ongoing alignment with shareholders.

Negative

• Sale of 2,123 shares worth ~$0.51 million slightly reduces direct exposure, though impact is minimal.

Insights

Equity Analyst

TL;DR: Small, routine insider trade; net share increase suggests neutral-to-slightly positive signal, immaterial to valuation.

The transaction shows Martin converting in-the-money options (exercise price 41% below sale price) and keeping ~41% of the exercised shares. Although this indicates some confidence, the dollar size is modest relative to his existing stake and FedEx’s market cap. With no 10b5-1 designation marked, timing discretion could exist, but the volume is far below average daily trading (~1.5 m shares). Overall, I classify the filing as neutral for investors; it neither alters FedEx’s fundamentals nor sends a strong behavioural signal.

Corporate Governance Specialist

TL;DR: Governance impact negligible; transaction aligns with normal option lifecycle.

Martin’s exercise occurred within the typical window (one year post-grant) and before expiry, satisfying standard governance practices. Retention of the majority of exercised shares supports alignment with shareholder interests. No red flags—no large disposals, no complex derivative structures, and ample remaining ownership through GRATs and family entities. From a governance standpoint, the activity is routine and not impactful on risk assessments.

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^*

MARTIN R BRAD

(Last) (First) (Middle)

55 EAST MAIN STREET, SUITE 102

(Street)

CHATTANOOGA TN 37408

(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)
07/07/2025

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	07/07/2025		M		3,610	A	$142.11	11,058(1)	D
Common Stock	07/07/2025		S		2,123	D	$241.75	8,935	D
Common Stock								55,000	I	By GRATs
Common Stock								7,250	I	By R. Brad Martin Family Foundation
Common Stock								2,100	I	By Wife
Common Stock								750	I	By Child's Trust 1
Common Stock								750	I	By Child's Trust 2
Common Stock								750	I	By Child's Trust 3

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	07/07/2025		M			3,610	(2)	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. These options first exercisable one year from date of grant.

	/s/ R. Brad Martin	07/07/2025
	** 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.
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FAQ

What insider transactions did FedEx (FDX) report on 07/07/2025?

Director R. Brad Martin exercised 3,610 options at $142.11 and sold 2,123 shares at $241.75.

How many FedEx shares does R. Brad Martin now own directly?

After the transactions, he holds 8,935 common shares directly.

What is the total beneficial ownership for the director?

Including indirect holdings, Martin reports approximately 75,535 shares.

Did the director retain any derivative positions after the filing?

No. The exercised options were eliminated, leaving 0 derivative securities outstanding.

How significant is the sale compared to FedEx’s average daily volume?

The 2,123 shares sold represent less than 0.15% of FDX’s typical daily volume (~1.5 million shares).