FedEx (FDX) PRE 14A26 Jul 24Preliminary proxyFinancial data

Company Profile

Cover

Cover	12 Months Ended
Cover	May 31, 2024
Cover [Abstract]
Document Type	PRE 14A
Entity Registrant Name	FedEx Corporation
Entity Central Index Key	0001048911
Amendment Flag	false

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	12 Months Ended
Pay vs Performance Disclosure - USD ($)	May 31, 2024	May 31, 2023	May 31, 2022	May 31, 2021
Pay vs Performance Disclosure [Table]
Pay vs Performance [Table Text Block]	Under rules adopted by the SEC pursuant to the Dodd-Frank Act, FedEx is required to calculate and disclose information about the relationship between executive “compensation actually paid” (“CAP”) and certain financial performance measures of FedEx. “Compensation actually paid,” as determined pursuant to Item 402(v) of Regulation S-K adopted by the SEC, reflects adjusted values to unvested and vested equity awards during the years shown in the table based on year-end stock prices, various accounting valuation assumptions, and projected performance modifiers but does not reflect actual compensation paid for those awards. CAP generally fluctuates due to stock price changes and varying levels of projected and actual achievement of performance goals. For a discussion of how our Compensation & HR Committee assessed FedEx’s performance and the performance of our Chief Executive Officer and our other named executive officers for purposes of determining pay each year, see “Executive Compensation — Compensation Discussion and Analysis” in this proxy statement and in our proxy statements for 2024, 2023, 2022, and 2021. For further information about our compensation philosophy and the pay-for-performance nature of our executive compensation program, please see “Executive Compensation — Compensation Discussion and Analysis” beginning on page 43. SUMMARY (1) COMPENSATION (2) AVERAGE (3) AVERAGE (4) VALUE OF INITIAL NET INCOME (7) ADJUSTED (8) YEAR FEDEX (5) DOW JONES (6) 2024 12,382,507 15,909,634 5,498,440 5,688,059 208.06 179.57 4,331 6,235 2023 13,249,823 12,796,020 6,296,043 5,689,551 174.99 159.13 3,972 4,948 2022 10,596,150 (19,560,048) 4,131,008 (1,388,125) 176.23 163.49 3,826 6,733 2021 14,325,537 88,307,582 5,783,014 16,035,779 244.15 177.82 5,231 5,857
Company Selected Measure Name	adjusted consolidated operating income
Named Executive Officers, Footnote [Text Block]	(1) Reflects total compensation amounts for Mr. Subramaniam Frederick W. Smith
Peer Group Issuers, Footnote [Text Block]	(6) For the relevant fiscal year, represents the cumulative TSR of the Dow Jones Transportation Average (“Peer Group TSR”) for the measurement periods ending May 31, 2024, 2023, 2022, and 2021, respectively.
PEO Total Compensation Amount	$ 12,382,507	$ 13,249,823	$ 10,596,150	$ 14,325,537
PEO Actually Paid Compensation Amount	$ 15,909,634	12,796,020	(19,560,048)	88,307,582
Adjustment To PEO Compensation, Footnote [Text Block]	YEAR 2021 2022 2023 2024 CEO F.W. Smith F.W. Smith R. Subramaniam R. Subramaniam SCT Total Compensation ($) 14,325,537 10,596,150 13,249,823 12,382,507 Less: Stock and Option Award Values Reported in SCT for the Covered Year ($) (8,784,094 ) (7,160,341 ) (5,964,153 ) (5,964,665 ) Plus: Year End Fair Value for Stock and Option Awards Granted in the Covered Year ($) 49,787,090 4,378,639 6,029,546 7,017,566 Change in Fair Value of Outstanding Unvested Stock, and Option Awards from Prior Years ($) 32,335,923 (24,455,363 ) (484,674 ) 1,826,533 Change in Fair Value of Stock, and Option Awards from Prior Years that Vested in the Covered Year ($) 532,670 (2,970,262 ) 69,188 784,265 Less: Fair Value of Stock, and Option Awards that failed to meet Vesting Conditions in the Covered Year ($) — — — — Less: Aggregate Change in Actuarial Present Value of Accumulated Benefit Under Pension Plans ($) — — (209,016 ) (247,803 ) Plus: Aggregate Service Cost and Prior Service Cost for Pension Plans ($) 110,456 51,129 105,306 111,231 Compensation Actually Paid ($) 88,307,582 (19,560,048 ) 12,796,020 15,909,634
Non-PEO NEO Average Total Compensation Amount	$ 5,498,440	6,296,043	4,131,008	5,783,014
Non-PEO NEO Average Compensation Actually Paid Amount	$ 5,688,059	5,689,551	(1,388,125)	16,035,779
Adjustment to Non-PEO NEO Compensation Footnote [Text Block]	YEAR 2021 2022 2023 2024 Non-CEO NEOs (3) SCT Total Compensation ($) 5,783,014 4,131,008 6,296,043 5,498,440 Less: Stock, and Option Award Values Reported in SCT for the Covered Year ($) (2,457,868 ) (2,061,624 ) (1,670,867 ) (2,300,849 ) Plus: Year-End Fair Value for Stock and Option Awards Granted in the Covered Year ($) 8,632,939 1,381,663 1,685,166 2,000,364 Change in Fair Value of Outstanding Unvested Stock, and Option Awards from Prior Years ($) 3,534,655 (4,374,850 ) (605,233 ) 437,425 Change in Fair Value of Stock, and Option Awards from Prior Years that Vested in the Covered Year ($) 250,602 (443,261 ) (33,347 ) 294,355 Fair Value as of Vesting Date of Stock and Option Awards Granted and Vested in the Covered Year ($) 390,549 — — 214,520 Fair Value of Stock, and Option Awards that Failed to Meet Vesting Conditions in the Covered Year ($) (104,391 ) — — (449,287 ) Less: Aggregate Change in Actuarial Present Value of Accumulated Benefit Under Pension Plans ($) (66,903 ) (94,867 ) (34,030 ) (51,743 ) Plus: Aggregate Service Cost and Prior Service Cost for Pension Plans ($) 73,182 73,806 51,819 44,835 Compensation Actually Paid ($) 16,035,779 (1,388,125 ) 5,689,551 5,688,059
Compensation Actually Paid vs. Total Shareholder Return [Text Block]	Compensation Actually Paid vs. FedEx and Peer Group TSR
Compensation Actually Paid vs. Net Income [Text Block]	Compensation Actually Paid vs. GAAP Net Income
Compensation Actually Paid vs. Company Selected Measure [Text Block]	Compensation Actually Paid vs. Adjusted Consolidated
Tabular List [Table Text Block]	Listed below are the financial and non-financial performance measures which in our assessment represent the most important financial performance measures we used to link compensation actually paid to our named executive officers, for fiscal 2024, to company performance. Adjusted consolidated operating income Adjusted EPS CapEx/Revenue; Relative TSR ROIC
Total Shareholder Return Amount	$ 208.06	174.99	176.23	244.15
Peer Group Total Shareholder Return Amount	179.57	159.13	163.49	177.82
Net Income (Loss) Attributable to Parent	$ 4,331,000,000	$ 3,972,000,000	$ 3,826,000,000	$ 5,231,000,000
Company Selected Measure Amount	6,235,000,000	4,948,000,000	6,733,000,000	5,857,000,000
PEO Name	Mr. Subramaniam	Mr. Subramaniam	Frederick W. Smith	Frederick W. Smith
Measure [Axis]: 1
Pay vs Performance Disclosure [Table]
Measure Name	Adjusted consolidated operating income
Non-GAAP Measure Description [Text Block]	(8) Company-selected measure is adjusted consolidated operating income Appendix C for a reconciliation of adjusted consolidated operating income to the most directly comparable GAAP measure for fiscal 2024, 2023, and 2022. GAAP consolidated operating income was the performance measure for the fiscal 2021 AIC plan.
Measure [Axis]: 2
Pay vs Performance Disclosure [Table]
Measure Name	Adjusted EPS
Measure [Axis]: 3
Pay vs Performance Disclosure [Table]
Measure Name	CapEx/Revenue;
Measure [Axis]: 4
Pay vs Performance Disclosure [Table]
Measure Name	Relative TSR
Measure [Axis]: 5
Pay vs Performance Disclosure [Table]
Measure Name	ROIC
P E O Less Stock And Option Award Values Reported In S C T For The Covered Year [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount	$ (5,964,665)	$ (5,964,153)	$ (7,160,341)	$ (8,784,094)
P E O Plus Year End Fair Value For Stock And Option Awards Granted In The Covered Year [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount	7,017,566	6,029,546	4,378,639	49,787,090
P E O Change In Fair Value Of Outstanding Unvested Stock And Option Awards From Prior Years [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount	1,826,533	(484,674)	(24,455,363)	32,335,923
P E O Change In Fair Value Of Stock And Option Awards From Prior Years That Vested In The Covered Year [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount	784,265	69,188	(2,970,262)	532,670
P E O Less Fair Value Of Stock And Option Awards That Failed To Meet Vesting Conditions In The Covered Year [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount	0	0	0	0
P E O Less Aggregate Change In Actuarial Present Value Of Accumulated Benefit Under Pension Plans [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount	(247,803)	(209,016)	0	0
P E O Plus Aggregate Service Cost And Prior Service Cost For Pension Plans [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount	111,231	105,306	51,129	110,456
Non P E O N E O Less Stock And Option Award Values Reported In S C T For The Covered Year [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount	(2,300,849)	(1,670,867)	(2,061,624)	(2,457,868)
Non P E O N E O Plus Year End Fair Value For Stock And Option Awards Granted In The Covered Year [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount	2,000,364	1,685,166	1,381,663	8,632,939
Non P E O N E O Change In Fair Value Of Outstanding Unvested Stock And Option Awards From Prior Years [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount	437,425	(605,233)	(4,374,850)	3,534,655
Non P E O N E O Change In Fair Value Of Stock And Option Awards From Prior Years That Vested In The Covered Year [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount	294,355	(33,347)	(443,261)	250,602
Non P E O N E O Fair Value As Of Vesting Date Of Stock And Option Awards Granted And Vested In The Covered Year [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount	214,520	0	0	390,549
Non P E O N E O Fair Value Of Stock And Option Awards That Failed To Meet Vesting Conditions In The Covered Year [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount	(449,287)	0	0	(104,391)
Non P E O N E O Less Aggregate Change In Actuarial Present Value Of Accumulated Benefit Under Pension Plans [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount	(51,743)	(34,030)	(94,867)	(66,903)
Non P E O N E O Plus Aggregate Service Cost And Prior Service Cost For Pension Plans [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount	$ 44,835	$ 51,819	$ 73,806	$ 73,182