FedEx Corp. Reports Annual Shareowner Meeting Results
September 29 2014 - 4:17PM
Business Wire
Authorizes New Stock Repurchase Program
Shareowners of FedEx Corp. (NYSE: FDX) today re-elected all 12
director nominees to the corporation’s Board of Directors, each for
a one-year term.
Re-elected members of the Board of Directors are: Frederick W.
Smith, James L. Barksdale, John A. Edwardson, Marvin R. Ellison,
Kimberly A. Jabal, Shirley Ann Jackson, Gary W. Loveman, R. Brad
Martin, Joshua Cooper Ramo, Susan C. Schwab, David P. Steiner and
Paul S. Walsh.
After eight years of distinguished service to FedEx, Steven R.
Loranger retired from the Board today. “Steve has been a valuable
member of the FedEx Board of Directors, and we thank him for his
many contributions,” said Frederick W. Smith, chairman, president
and chief executive officer of FedEx Corp.
The shareowners also took the following other actions at the
annual meeting:
- Approved, on an advisory basis, the
compensation of FedEx’s named executive officers.
- Ratified the appointment of Ernst &
Young LLP as FedEx’s independent auditor for fiscal year 2015.
- Did not
approve any of the stockholder proposals. Included were:
- A proposal requesting an amendment to
FedEx’s governing documents to allow stockholders to nominate
candidates for Board membership and have those nominees included in
FedEx’s proxy statement.
- A proposal requesting an amendment to
FedEx’s governing documents to provide that all matters presented
to stockholders, other than the election of directors, be decided
by a simple majority of the shares voted “FOR” or “AGAINST” an item
(by excluding abstentions).
- A proposal requesting the adoption of a
policy that FedEx’s equity compensation plans prohibit directors
and senior executives who are compensated under those plans from
engaging in hedging or pledging transactions involving FedEx shares
issued under those plans.
- A proposal requesting the adoption of a
policy that FedEx will not pay the personal taxes owed on
restricted stock awards on behalf of its named executive
officers.
- A proposal requesting that FedEx
provide a report, updated semi-annually, disclosing information
about the corporation’s political contributions and policies on
making political contributions with corporate funds.
- A proposal from the floor of the annual
meeting requesting the Board of Directors take the steps necessary
to drop or distance ties with the NFL Washington Redskins team,
logos and/or stadium sponsorship until the franchise changes the
team’s name.
Also, the Board of Directors today authorized a new stock
repurchase program of up to 15 million shares of FedEx Corp. common
stock. It is expected that the share authorization will primarily
be used to offset equity compensation dilution over the next
several years. Purchases may be made from time to time in the open
market or in privately negotiated transactions. FedEx had 283
million shares outstanding as of September 17, 2014.
Corporate Overview
FedEx Corp. (NYSE: FDX) provides customers and businesses
worldwide with a broad portfolio of transportation, e-commerce and
business services. With annual revenues of $46 billion, the company
offers integrated business applications through operating companies
competing collectively and managed collaboratively, under the
respected FedEx brand. Consistently ranked among the world’s most
admired and trusted employers, FedEx inspires its more than 300,000
team members to remain “absolutely, positively” focused on safety,
the highest ethical and professional standards and the needs of
their customers and communities. For more information, visit
news.fedex.com.
FedEx Corp.Media Contact:Jess Bunn, 901-818-7463orInvestor
Contact:Mickey Foster, 901-818-7468Home Page: fedex.com
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