Management Change/Compensation (Form 8-K)

Item 5.02. Departure of Directors or Certain Officers; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On March 9, 2026, the Board of Directors of FedEx Corporation ("FedEx" or the "Company"), upon the recommendation of its Compensation and Human Resources Committee, approved amendments to the Company's FY25-FY27 long term incentive plan and FY26-FY28 long-term incentive plan, which are based on the Company's current May 31 fiscal year end (collectively, the "LTI Plans"), to(1) measure actual performance under each LTI Plan through the end of FY26 using the original performance goals of the applicable plan and (2) assume target performance for the remaining period of each applicable plan, with payouts to be calculated under each LTI Plan using a weighted average of actual performance measured through the end of FY26 and target performance for the remainder of the applicable plan period, as set forth below:

^*Payouts will be made after May 31, 2027 or May 31, 2028, as applicable.

The amendments to the LTI Plans were made in consideration of the impact on the LTI Plans of the planned spin-off of FedEx Freight into a newly public company, which is on track to be completed on June 1, 2026 (the "Spin-off"), and the change in the Company's fiscal year end from May 31 to December 31, which will be effective June 1, 2026.

The amendments to the LTI Plans are effective for all participants in the LTI Plans who remain employees of the Company following the Spin-off, including the Company's named executive officers ("NEOs") as set forth in the Company's Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on August 18, 2025 (the "2025 Proxy Statement"). Except as described in this Current Report, no changes to the performance metrics and payout opportunities under the LTI Plans were made. Additional details regarding the LTI Plans, including the payout opportunities under each LTI plan for the NEOs, are described on pages 55 through 60 of the 2025 Proxy Statement.