What was the main purpose of this 8-K/A filing?

The filing amends a previous report to confirm the outcome of a shareholder vote on the frequency of advisory votes on executive compensation ('say-on-pay'). Shareholders overwhelmingly supported holding these votes annually.

What is a 'say-on-pay' vote?

'Say-on-pay' is a shareholder's right to vote on the compensation of the company's top executives. While advisory (non-binding), these votes provide important feedback to the board and management.

How often will FedEx hold 'say-on-pay' votes now?

Following the shareholder vote, FedEx has committed to holding these advisory votes on executive compensation on an annual basis.

For how long will FedEx hold annual 'say-on-pay' votes?

The company will conduct these annual advisory votes until the next vote on the frequency of such votes, which is scheduled to occur no later than FedEx's annual meeting of stockholders in 2029.

FDX 8-K: Shareholder Matters

Summary

FedEx Corp. (FDX) filed an 8-K/A amendment on December 10, 2023, primarily to update information regarding a shareholder vote on executive compensation frequency from their Annual Meeting on September 20, 2023. The Board of Directors' recommendation to hold advisory votes on executive compensation annually was overwhelmingly supported by shareholders. This means FedEx will conduct these 'say-on-pay' votes every year going forward.

Key Highlights

1Shareholders voted in favor of holding advisory votes on executive compensation on an annual basis.
2The Board of Directors recommended this annual voting frequency.
3FedEx will now hold annual 'say-on-pay' advisory votes.
4This practice will continue until the next vote on frequency, which must occur by the 2029 annual meeting.
5The amendment clarifies the outcome of a previous shareholder submission matter.

FEDEX CORP 8-K/A Report, Shareholder Vote Results (Dec 11, 2023)

Summary

Key Highlights

Frequently Asked Questions