[Form 4] FEDEX CORP Insider Trading Activity

Rhea-AI Filing Summary

Frederick Perpall, a director of FedEx Corporation (FDX), reported an acquisition of restricted stock units (RSUs) on 09/29/2025. The Form 4 shows an acquisition transaction for Common Stock classified as RSUs that vest at the next FedEx annual stockholders' meeting and accrue dividend equivalents. After the reported transaction and an adjustment reflecting 12 shares acquired via dividend reinvestment, the filing shows beneficial ownership of 3,793 shares. The Form 4 is signed by Frederick Perpall and reports the RSUs at a $0 price as described in the Restricted Stock Unit Agreement for Non-Management Directors.

Positive

• Director received RSUs that align compensation with shareholder interests
• Beneficial ownership updated to 3,793 shares
• 12 additional shares were added via dividend reinvestment, reflecting dividend processing

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Director received RSUs that vest at the next annual meeting; ownership updated to 3,793 shares including dividend reinvestment.

The Form 4 discloses a routine director equity award: restricted stock units granted to a non-management director that vest at the next FedEx stockholders' meeting and carry dividend equivalents. Reporting the RSUs at $0 is consistent with non-cash director compensation under a grant agreement rather than an open-market purchase. The filing also notes an ownership adjustment of 12 shares from dividend reinvestment, which is an administrative update to holdings rather than a market transaction. Overall, this disclosure is standard for director compensation and does not alone indicate a change in control, material disposition, or extraordinary corporate action.

Securities Analyst

TL;DR: A non-management director acquired RSUs; the update is informational and has limited immediate market impact.

The reported acquisition (transaction code A) pertains to restricted stock units for a director with vesting tied to the next annual meeting and dividend equivalent accruals. The filing records beneficial ownership of 3,793 shares after adjusting for 12 shares received through dividend reinvestment. Because the instrument is an RSU granted under the director agreement and recorded at $0, this is a compensation-related entry rather than an investment purchase or sale. From a trading-impact perspective, such disclosures are typically neutral and procedural.

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^*

Perpall Frederick

(Last) (First) (Middle)

THE BECK GROUP

1601 ELM STREET, SUITE 2800

(Street)

DALLAS TX 75201

(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)
09/29/2025

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	09/29/2025		A		823(1)	A	$0	3,793(2)	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

Explanation of Responses:

1. These shares are subject to restricted stock units ("RSUs"). The RSUs vest on the date of the next FedEx Corporation annual stockholders' meeting and shall accrue dividend equivalents when a dividend is paid on shares of FedEx common stock, as set forth in the form of Restricted Stock Unit Agreement for Non-Management Directors.

2. Ownership has been adjusted to reflect 12 shares that were acquired via dividend reinvestment as a result of dividends paid to all shareholders.

	/s/ Frederick Perpall	10/01/2025
	** 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 did Frederick Perpall report on his Form 4 for FDX?

He reported an acquisition of restricted stock units (RSUs) on 09/29/2025 and an ownership adjustment to 3,793 shares.

Do the reported RSUs pay dividends or dividend equivalents?

Yes. The filing states the RSUs shall accrue dividend equivalents when dividends are paid on FedEx common stock.

When do the reported RSUs vest?

The RSUs vest on the date of the next FedEx Corporation annual stockholders' meeting, per the filing.

Was there a cash price associated with the reported RSU acquisition?

No. The transaction is reported at a $0 price consistent with grant of RSUs under the Restricted Stock Unit Agreement for Non-Management Directors.

Why did the number of shares change in the filing?

Ownership was adjusted to reflect 12 shares acquired via dividend reinvestment as a result of dividends paid to all shareholders.