FedEx Corporation is launching cash tender offers to repurchase outstanding notes for up to $4.15 billion in aggregate purchase price, excluding accrued interest. The offers cover multiple long-dated bond series and follow the spin-off of FedEx Freight.
FedEx Freight paid a cash dividend of approximately $4.1 billion to FedEx in connection with the spin-off, and FedEx will use this dividend, together with cash on hand, to fund the tender offers. The company states that the transactions support its strategy to reduce outstanding indebtedness and maintain a leverage-neutral profile after the spin-off.
Holders who tender by the July 9, 2026 Early Tender Time and are accepted will receive total consideration that includes an early tender premium of $30 per $1,000 principal amount. The offers are scheduled to expire at 5:00 p.m. New York City time on July 24, 2026, with expected early settlement on July 14, 2026 and final settlement on July 28, 2026, subject to the Offer Cap and other conditions in the Offer to Purchase.
FedEx reported strong fourth-quarter and full-year fiscal 2026 results, with both revenue and earnings rising year-over-year. Fourth-quarter revenue reached $25.0 billion versus $22.2 billion a year ago, while diluted EPS was $6.60 on a GAAP basis and $6.31 adjusted. Full-year revenue grew to $94.7 billion from $87.9 billion, and GAAP diluted EPS increased to $18.55, or $20.24 on an adjusted basis.
Results benefited from higher U.S. domestic and international priority yields, increased package volumes, and over $1 billion in transformation-related cost savings. FedEx completed the tax-free spin-off of FedEx Freight, which paid a $4.1 billion cash dividend to FedEx, helping lift cash and equivalents to $13.3 billion. In fiscal 2026, the company returned about $2.2 billion to stockholders and kept capital spending to $3.8 billion, or 4.0% of revenue. For calendar 2026, FedEx forecasts roughly 11% revenue growth, diluted EPS from continuing operations of $16.55 to $17.75, and adjusted diluted EPS of $16.90 to $18.10.
FEDEX CORP director Mark A. Edmunds filed an initial Form 3, which identifies him as a director and provides a baseline disclosure of his beneficial ownership status. The data shown lists no reportable transactions or derivative positions in this filing excerpt.
FedEx Corporation announced changes to its Board of Directors. The Board elected Mark A. Edmunds, a retired Deloitte vice chairman and senior partner, as a director effective immediately. He will serve as Chair of the Audit and Finance Committee and as a member of the Cyber and Technology Oversight Committee.
Edmunds will serve until the 2026 annual meeting, when his continued service will depend on renomination and stockholder approval. He will receive restricted stock units with a prorated target value of $60,450, a prorated annual retainer of $43,400, and a prorated Audit and Finance Committee Chair payment of $9,300.
The Board also accepted the resignation of director Silvia Davila, effective June 8, 2026. She resigned in connection with a change in her principal employment, consistent with FedEx’s Corporate Governance Guidelines, and not due to any disagreement with the company’s operations, policies, or practices.
FEDEX CORP’s interim CFO and interim CAO, Claude F. Russ, has filed a Form 3 showing his initial equity holdings in the company. The filing reports direct ownership of 3,542 shares of FedEx common stock. It also lists multiple non-qualified stock options, each giving the right to buy FedEx common shares at preset exercise prices.
The reported option positions cover 6,803 underlying shares at an exercise price of $176.07 per share, 4,707 shares at $230.59, 3,997 shares at $181.23, 2,008 shares at $179.14, 3,585 shares at $232.55, and 2,850 shares at $206.64. According to the footnote, these options first become exercisable one year from their respective grant dates. The Form 3 does not reflect new market transactions, but rather discloses existing ownership as Mr. Russ serves in his executive roles.
FedEx Corp executive Ray Scott L, COO for U.S. & Canada, reported his initial ownership on a Form 3. He holds 14,642 shares of FedEx common stock directly. He also holds several non-qualified stock options to buy additional common shares at exercise prices between $103.38 and $286.31, with expiration dates from 2030 through 2036. A footnote states that these options first become exercisable one year from their grant dates.
FedEx Corporation, as a major owner of FedEx Freight Holding Company, Inc., reported an internal restructuring of its Freight common stock. Before the change, FedEx held 100 shares that were converted into 149,505,248 shares of Freight common stock in a transaction exempt from reporting under Rule 16a-9.
FedEx then distributed 80.1% of these shares, or 119,753,703 shares of Freight common stock, as a pro rata dividend to holders of FedEx common stock of record as of May 15, 2026. After this distribution, FedEx continued to hold 29,751,545 Freight common shares directly.
FedEx Corporation completed the spin-off of its FedEx Freight business into an independent, publicly traded company. FedEx distributed 80.1% of FedEx Freight common stock to its stockholders, with each stockholder receiving one FDXF share for every two FDX shares held as of May 15, 2026, with cash paid in lieu of fractional shares.
FedEx retained the remaining 19.9% of FedEx Freight and plans to dispose of that stake within 24 months through exchanges to repay certain FedEx debt and/or distributions to FedEx stockholders. In connection with the separation, FedEx Freight paid a cash dividend of approximately $4.1 billion to FedEx, funded by a $3.7 billion senior notes offering and borrowings under a delayed-draw term loan facility.
The companies entered into multiple long-term agreements, including separation, transition services, tax, employee matters, intellectual property cross‑license, trademark license, and stockholder and registration rights agreements, to govern their post-spin relationship. FedEx Freight begins NYSE trading under ticker FDXF, while FedEx continues under FDX.
FedEx Corp notified the New York Stock Exchange of the removal of its 1.300% Notes due 2031 (CUSIP 31428XBX3) from listing and/or registration. The Exchange certified it complied with 17 CFR 240.12d2-2 procedures and the issuer complied with voluntary withdrawal requirements.
FedEx Corporation will redeem all €354,878,000 outstanding principal of its 1.300% Notes due 2031 (NYSE: FDX 31). The redemption will occur on May 28, 2026 and constitutes a full repayment of this euro-denominated bond.
The company set the total Redemption Price at €358,619,289.16, which includes €3,741,289.16 of accrued and unpaid interest to the redemption date. The cash amount was calculated under the indenture using the greater of par or a make-whole formula tied to a comparable government bond rate plus 25 basis points.