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FedEx Corp. Reports Annual Shareowner Meeting Results

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Shareowners of FedEx Corp. (NYSE:FDX) today re-elected all 12 director nominees to the corporation’s Board of Directors, each for a one-year term.

Re-elected members of the Board of Directors are: Frederick W. Smith, James L. Barksdale, John A. Edwardson, Marvin R. Ellison, Kimberly A. Jabal, Shirley Ann Jackson, Gary W. Loveman, R. Brad Martin, Joshua Cooper Ramo, Susan C. Schwab, David P. Steiner and Paul S. Walsh.

After eight years of distinguished service to FedEx, Steven R. Loranger retired from the Board today. “Steve has been a valuable member of the FedEx Board of Directors, and we thank him for his many contributions,” said Frederick W. Smith, chairman, president and chief executive officer of FedEx Corp.

The shareowners also took the following other actions at the annual meeting:

  • Approved, on an advisory basis, the compensation of FedEx’s named executive officers.
  • Ratified the appointment of Ernst & Young LLP as FedEx’s independent auditor for fiscal year 2015.
  • Did not approve any of the stockholder proposals. Included were:
    • A proposal requesting an amendment to FedEx’s governing documents to allow stockholders to nominate candidates for Board membership and have those nominees included in FedEx’s proxy statement.
    • A proposal requesting an amendment to FedEx’s governing documents to provide that all matters presented to stockholders, other than the election of directors, be decided by a simple majority of the shares voted “FOR” or “AGAINST” an item (by excluding abstentions).
    • A proposal requesting the adoption of a policy that FedEx’s equity compensation plans prohibit directors and senior executives who are compensated under those plans from engaging in hedging or pledging transactions involving FedEx shares issued under those plans.
    • A proposal requesting the adoption of a policy that FedEx will not pay the personal taxes owed on restricted stock awards on behalf of its named executive officers.
    • A proposal requesting that FedEx provide a report, updated semi-annually, disclosing information about the corporation’s political contributions and policies on making political contributions with corporate funds.
    • A proposal from the floor of the annual meeting requesting the Board of Directors take the steps necessary to drop or distance ties with the NFL Washington Redskins team, logos and/or stadium sponsorship until the franchise changes the team’s name.

Also, the Board of Directors today authorized a new stock repurchase program of up to 15 million shares of FedEx Corp. common stock. It is expected that the share authorization will primarily be used to offset equity compensation dilution over the next several years. Purchases may be made from time to time in the open market or in privately negotiated transactions. FedEx had 283 million shares outstanding as of September 17, 2014.

Corporate Overview

FedEx Corp. (NYSE:FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $46 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the world’s most admired and trusted employers, FedEx inspires its more than 300,000 team members to remain “absolutely, positively” focused on safety, the highest ethical and professional standards and the needs of their customers and communities. For more information, visit news.fedex.com.

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