FedEx Corporation (NYSE:FDX) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

FedEx Chief Financial Officer – Retention Awards: On July17, 2017, the Board of Directors of FedEx Corporation (“FedEx”), upon the recommendation of the Compensation Committee, approved a performance-based cash award for Alan B. Graf, Jr., FedEx’s Executive Vice President and Chief Financial Officer. The award has a target value of $574,661 that is tied to the achievement of a fiscal 2020 earnings per share (“EPS”) goal (excluding mark-to-market pension accounting adjustments and TNT Express integration and restructuring expenses and subject to any adjustments that may be approved by the Board, upon the recommendation of the Compensation Committee). The cash award will be paid in its entirety if the fiscal 2020 EPS goal is met or exceeded. If fiscal 2020 EPS is less than 80% of the goal, no cash award will be paid. If fiscal 2020 EPS is between 80% and 50% of the goal, the Chairman of the Board will determine the actual award paid (but in no event will it exceed $574,661). To remain eligible for the award, Mr.Graf must remain FedEx’s Chief Financial Officer through the end of fiscal 2020. In the event of death or permanent disability prior to the end of fiscal 2020, payment will be made in accordance with the timing and payout criteria described above. On July17, 2017, Mr.Graf was also granted a restricted stock award of 1,785 shares with a four-year ratable vesting period.

FedEx General Counsel and Secretary – Retirement: On July20, 2017, FedEx announced that Christine P. Richards, FedEx’s Executive Vice President, General Counsel and Secretary, will retire effective September30, 2017. On July19, 2017, Ms.Richards and FedEx entered into an agreement that includes a one-year non-compete covenant and a one-time payment to Ms.Richards of $753,900 following her retirement. Her successor will be named at a later date.

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About FedEx Corporation (NYSE:FDX)

FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services. The FedEx Express segment offers a range of the United States domestic and international shipping services for delivery of packages and freight. TNT Express segment collects, transports and delivers documents, parcels and freight on a day-definite or time-definite basis. The FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services. The FedEx Freight segment offers less-than-truckload (LTL) freight services. The FedEx Services segment provides its other companies with sales, marketing, information technology, communications, customer service and other back-office support.