8-KLeadership ChangesExhibits & Filings

FEDEX CORP 8-K Report, Executive Changes (Dec 13, 2021)

Filed December 13, 2021For Securities:FDX

Summary

FedEx Corporation (FDX) announced a change to its Board of Directors with the election of Fred Perpall, effective immediately on December 13, 2021. Mr. Perpall's appointment expands the Board to 12 members and includes his membership on the Audit and Nominating & Governance Committees. This move is aimed at strengthening the company's oversight and governance structures. Investors will note that Mr. Perpall is considered independent, meeting both NYSE and FedEx's internal standards. His compensation aligns with the established program for non-management directors, including a stock option grant and a prorated retainer. This filing does not indicate any significant strategic shifts or financial performance updates, focusing solely on the board composition change.

Key Highlights

  • 1Fred Perpall elected as a new director to the FedEx Board.
  • 2Mr. Perpall will serve on the Audit and Nominating & Governance Committees.
  • 3The Board of Directors has been expanded to 12 members.
  • 4Mr. Perpall has been determined to be an independent director.
  • 5Compensation for Mr. Perpall includes stock options and a prorated retainer, consistent with non-management director pay.
  • 6The election is for a term expiring at the 2022 annual stockholder meeting.

Frequently Asked Questions

Fred Perpall has been elected as a new director to the FedEx Board. While this filing does not detail his full professional background, his appointment to the Audit and Nominating & Governance Committees suggests expertise relevant to financial oversight and corporate governance. Further details on his background would typically be found in the referenced press release (Exhibit 99.1) or the company's proxy statements.

His appointment to these committees signifies his role in overseeing financial reporting and internal controls (Audit Committee) and in matters related to board composition, director nominations, and corporate governance practices (Nominating & Governance Committee). This strengthens the independent oversight functions of the Board.

Mr. Perpall will be compensated according to the standard program for FedEx's non-management directors. This includes an award of 1,992 shares of FedEx common stock via stock option and a prorated annual retainer payment, reflecting his immediate election to the Board.

No, this 8-K filing is specific to a change in board composition. It does not contain information related to FedEx's financial performance, earnings, or significant strategic initiatives. For such updates, investors should refer to earnings releases, 10-Q (quarterly) or 10-K (annual) filings.