8-KLeadership ChangesExhibits & Filings

FEDEX CORP 8-K Report, Executive Changes (Nov 2, 2015)

Filed November 2, 2015For Securities:FDX

Summary

This 8-K filing from FedEx Corporation on November 2, 2015, primarily announces a change in its Board of Directors. The company elected John C. (“Chris”) Inglis as a new director, effective immediately. Mr. Inglis's appointment increases the Board size to 13 members and he has been assigned to the Information Technology Oversight and Nominating & Governance Committees. Investors should note that the Board has determined Mr. Inglis to be independent and he will receive compensation in line with the company's standard program for non-management directors, including stock options. The filing indicates no related-party transactions involving Mr. Inglis that require disclosure under SEC regulations. This event does not appear to signal any immediate strategic shifts but rather a normal process of board refreshment and expertise enhancement, specifically in the IT governance area.

Key Highlights

  • 1FedEx Corporation elected John C. (“Chris”) Inglis as a new director to its Board of Directors, effective November 2, 2015.
  • 2Mr. Inglis's appointment expands the Board to a total of 13 members.
  • 3He has been appointed as a member of the Information Technology Oversight Committee and the Nominating & Governance Committee.
  • 4The Board has determined that Mr. Inglis meets the independence requirements of the NYSE and FedEx's internal standards.
  • 5Mr. Inglis will be compensated according to the company's standard compensation plan for non-management directors, including a stock option grant.
  • 6The filing confirms no reportable related-party transactions involving Mr. Inglis.
  • 7Mr. Inglis's term as a director will expire at the annual meeting of stockholders in September 2016.

Frequently Asked Questions

John C. (“Chris”) Inglis was elected as a new director to the FedEx Corporation Board. While the filing doesn't detail his specific background, his appointment to the Information Technology Oversight Committee suggests he brings expertise relevant to technology governance. His election is part of the Board's normal refreshment process.

Yes, Mr. Inglis's election as a director increases the total number of members on the FedEx Board of Directors from 12 to 13.

Mr. Inglis will be compensated in accordance with FedEx's established compensation program for its non-management (outside) directors. This includes receiving a stock option for 3,015 shares of FedEx common stock and a prorated annual retainer payment.

Yes, the FedEx Board of Directors has determined that Mr. Inglis is independent and meets the applicable independence requirements of the New York Stock Exchange as well as the company's own stricter standards.