[Form 4] FEDEX CORP Insider Trading Activity

Rhea-AI Filing Summary

Stephen E. Gorman, a FedEx (FDX) director, reported a non-cash grant of restricted stock units (RSUs) on 09/29/2025 that vest at the next annual stockholders' meeting. The filing shows 823 RSUs granted with a $0 price, and after the transaction Mr. Gorman beneficially owned 3,606 shares (this total was adjusted to include 15 shares acquired through dividend reinvestment). The RSUs accrue dividend equivalents consistent with the standard Restricted Stock Unit Agreement for Non-Management Directors. The statement was signed on 10/01/2025.

Positive

• 823 RSUs granted to a non-management director, aligning director compensation with shareholder interests
• Dividend reinvestment added 15 shares to the reporting person's beneficial ownership, increasing stake without cash outlay

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine director RSU award and minor share increase from dividend reinvestment; no cash purchase or dilution signaled.

The filing documents a standard non-management director equity award: 823 restricted stock units granted at no cash cost that vest at the next annual meeting and carry dividend-equivalent rights. This aligns with customary director compensation practices intended to align board members with shareholder interests. The beneficial ownership total includes a small, separate adjustment of 15 shares from dividend reinvestment. There are no indications of options exercised, open-market sales, or unusual transactions in this Form 4.

Securities Analyst

TL;DR: Non-material insider activity; a director received equity compensation that modestly increases his stake.

The transaction is categorized with transaction code 'A' indicating acquisition (here, RSUs). The grant is non-cash and vests at the next shareholder meeting, so it represents deferred compensation rather than immediate stock issuance. The adjustment for 15 dividend-reinvested shares is immaterial relative to typical institutional holdings and does not suggest a change in trading intent or liquidity. Impact on share count and market dilution from director RSUs is expected to be negligible.

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^*

GORMAN STEPHEN E

(Last) (First) (Middle)

630 SUNDANCE CT.

(Street)

PROSPER TX 75078

(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	3,606(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 15 shares that were acquired via dividend reinvestment as a result of dividends paid to all shareholders.

	/s/ Stephen E. Gorman	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 FedEx director Stephen E. Gorman report on Form 4 (FDX)?

He reported receipt of 823 restricted stock units (RSUs) on 09/29/2025 that vest at the next annual stockholders' meeting and accrues dividend equivalents.

How many FedEx shares does Stephen E. Gorman beneficially own after the transaction?

The filing shows beneficial ownership of 3,606 shares following the reported transaction; this total includes 15 shares from dividend reinvestment.

Was cash paid for the shares reported by Stephen E. Gorman on Form 4?

No; the RSUs were recorded with a $0 price, indicating a non-cash equity grant rather than a market purchase.

When do the reported RSUs vest for Stephen E. Gorman?

The RSUs vest on the date of the next FedEx Corporation annual stockholders' meeting, per the Restricted Stock Unit Agreement for Non-Management Directors.

Does the Form 4 indicate any exercises, sales, or other derivative transactions by the director?

No; the filing only reports an acquisition of RSUs and a dividend reinvestment adjustment and shows no derivative exercises or disposals.