[Form 4] FEDEX CORP Insider Trading Activity

Rhea-AI Filing Summary

Paul S. Walsh, a director of FedEx Corporation (FDX), received a grant of 823 restricted stock units (RSUs) on 09/29/2025. The RSUs are non‑cash awards that vest at the next FedEx annual stockholders' meeting and accrue dividend equivalents when dividends are paid on FedEx common stock. Following the RSU grant and a recent dividend reinvestment that added 12 shares, Mr. Walsh beneficially owns 16,348 shares of FedEx common stock. The Form 4 was signed on 10/01/2025 and reports the non‑derivative RSU award as a compensation/award transaction with no cash price reported.

Positive

• Director alignment: Grant of 823 RSUs vests at the next annual meeting and accrues dividend equivalents, aligning the director's interests with shareholders
• Ownership transparency: Beneficial ownership updated to 16,348 shares, including 12 shares from dividend reinvestment

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Director received 823 RSUs that vest at the next annual meeting and accrue dividend equivalents; total beneficial ownership now 16,348 shares.

The filing documents a routine director compensation action: a grant of 823 restricted stock units awarded as non‑derivative compensation on 09/29/2025. The RSUs vest at the next stockholders' meeting and carry dividend equivalent rights, aligning the director's interests with shareholders without immediate share issuance. The disclosure also notes a small adjustment of 12 shares from dividend reinvestment. This is a standard, non‑cash director award with no exercise price and no immediate cash flow or option dilution disclosed.

Securities Analyst

TL;DR: Non‑management director award reported; no sale or purchase for cash reported and beneficial ownership is unchanged materially.

The Form 4 reflects a grant-coded transaction (RSUs) on 09/29/2025 and an updated beneficial ownership figure of 16,348 shares after a 12‑share dividend reinvestment. The RSUs are reported with a $0 price, consistent with restricted awards rather than a market purchase. From an investor disclosure perspective, this filing is informational about director compensation and ownership, not an active trading signal.

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
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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^*

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)
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	16,348(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/ Paul S. Walsh	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 Paul S. Walsh report on the Form 4 for FDX?

The Form 4 reports a grant of 823 restricted stock units (RSUs) on 09/29/2025 and an updated beneficial ownership of 16,348 shares.

Do the RSUs reported have a cash price or exercise price?

No cash or exercise price is reported; the RSUs are shown with a $0 price as a non‑cash director award.

When do the RSUs vest according to the filing?

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

Did the filing report any shares acquired through dividends?

Yes. Ownership was adjusted to reflect 12 shares acquired via dividend reinvestment from dividends paid to all shareholders.

When was the Form 4 signed?

The Form 4 was signed by Paul S. Walsh on 10/01/2025.