GORMAN STEPHEN E 4

What Happened
Stephen E. Gorman, a director of FedEx Corp (FDX), exercised 4,727 stock options on 2026-04-27. The exercise was recorded at an exercise price of $146.62 per share (totaling $693,073). To cover the exercise price and related tax liability, 1,785 shares were withheld (disposed) at a market value of $388.46 per share (valued at $693,401). Net of the withholding, Gorman acquired 2,942 shares. A derivative conversion line reflects the option-to-share conversion.

Key Details

• Transaction date: 2026-04-27; Form 4 filed 2026-04-28.
• Options exercised: 4,727 shares at $146.62 (total exercise cost $693,073).
• Shares withheld: 1,785 shares valued at $388.46 each (total ~$693,401) to cover exercise price/taxes (code F = tax/exercise withholding).
• Net shares acquired: 4,727 − 1,785 = 2,942 shares added to holdings.
• Footnotes: F2 confirms shares were withheld by the issuer under the FedEx 2019 Omnibus Stock Incentive Plan; F1 notes ownership was also adjusted for 4 shares from dividend reinvestment; F3 notes these options were first exercisable one year from grant.
• Shares owned after transaction: filing does not state a total holding; net increase of 2,942 shares plus the 4-share dividend reinvestment.

Context
This was an option exercise (transaction code M) with a simultaneous share withholding (F) to satisfy the exercise price and tax obligations — a common cashless/net exercise method that results in a net increase in shares rather than an open-market purchase. The small discrepancy between the exercise cost and the value of withheld shares likely reflects withholding to cover taxes in addition to exercise proceeds. This filing is factual reporting of the exercise and withholding and does not itself indicate the director’s view on the company.