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FEDEX CORP : Change in Directors or Principal Officers (form 8-K)

07/21/2021 | 04:19pm EDT

Item 5.02. Departure of Directors or Certain Officers; Election of Directors;

           Appointment of Certain Officers; Compensatory Arrangements of Certain

On July 16, 2021, John L. Merino, Corporate Vice President and Principal Accounting Officer of FedEx Corporation ("FedEx" or the "Company"), informed the Company that he will retire from the Company effective December 31, 2021. Mr. Merino will step down from his position as Principal Accounting Officer, effective September 30, 2021, and will remain employed by the Company as Corporate Vice President and Senior Advisor - Finance from October 1, 2021 until his retirement on December 31, 2021. There were no changes to Mr. Merino's compensation made as a result of his change in role and retirement.

On July 19, 2021, the Board of Directors of FedEx appointed Jennifer L. Johnson as Corporate Vice President and Principal Accounting Officer - Elect of the Company, effective August 1, 2021, and Corporate Vice President and Principal Accounting Officer of the Company, effective October 1, 2021. Ms. Johnson, 48, is currently Staff Vice President and Corporate Controller of the Company, a position she has held since October 2015. Ms. Johnson was Vice President - Accounting of FedEx Corporate Services, Inc. from 2013 to 2015. Prior to that, Ms. Johnson held various positions in the financial reporting group at FedEx from 2005 through 2013, including Staff Director - Financial Reporting from 2011 through 2013.

There are no transactions since the beginning of the Company's last fiscal year in which the Company is a participant and in which Ms. Johnson or any members of her immediate family have any interest that are required to be reported under Item 404(a) of Regulation S-K. No family relationships exist between Ms. Johnson and any of the Company's directors or executive officers. The appointment of Ms. Johnson was not pursuant to any arrangement or understanding between her and any person, other than a director or executive officer of FedEx acting in his or her official capacity.

In connection with her appointment as the Company's Corporate Vice President and Principal Accounting Officer - Elect and Corporate Vice President and Principal Accounting Officer, Ms. Johnson will receive a promotional bonus, continue receiving a base salary, and be eligible to participate in the Company's annual incentive compensation plans and long-term incentive plans and receive stock options and restricted stock awards under the FedEx Corporation 2019 Omnibus Incentive Stock Plan, at levels commensurate with other similarly situated persons at the Company. Additional details regarding the Company's annual incentive compensation plans and long-term incentive plans are described beginning on page 49 of the Company's 2020 Proxy Statement filed with the Securities and Exchange Commission on August 10, 2020.



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