This methodology prevents the need for an officer to make a disposition of
FedEx stock to cover the tax consequences of a restricted stock award and dilute his or her interest in FedEx.
This prevents the need for the officer to sell a portion of a stock award to pay the corresponding tax obligation and thus encourages and facilitates
FedEx stock ownership by our officers, thereby further aligning their interests with those of our shareowners.
A complete ban on pledging, however, could discourage our executives and directors from owning significant levels of
FedEx stock, which we believe would negatively affect stockholders.
Not exact matches
FedEx also released earnings after the bell today and saw its
stock bump up 2 percent after beating both the top and the bottom lines.
Second, the
stock bubble was limited to those who either invested in companies that
FedEx» ed kitty litter round the country or tried to play the
stock market.
Section 16 (a) of the Securities Exchange Act of 1934 requires directors and certain officers of
FedEx and persons who own more than ten percent of
FedEx's common
stock to file with the Securities and Exchange Commission («SEC») initial reports of beneficial ownership (Form 3) and reports of subsequent changes in their beneficial ownership (Form 4 or Form 5) of
FedEx's common
stock.
Under the terms of our equity incentive plans, the fair market value on the grant date is defined as the average of the high and low trading prices of
FedEx's
stock on the New York Stock Exchange on that
stock on the New York
Stock Exchange on that
Stock Exchange on that day.
Stockholders approved
FedEx's 1995, 1997, 1999 and 2002
Stock Incentive Plans, as amended,
FedEx's Incentive
Stock Plan, as amended, and
FedEx's 2010 Omnibus
Stock Incentive Plan, as amended.
Holders of restricted shares were entitled to vote such shares and to receive any dividends paid on
FedEx common
stock.
The exercise price of
stock options granted under our equity incentive plans is equal to the fair market value of
FedEx's common
stock on the date of grant.
We believe that our pledging policy effectively mitigates the risk that forced sales of pledged shares could prompt a broader sell - off or further depress a declining
stock price, while providing our officers and directors with reasonable flexibility to use their
FedEx shares as collateral for loans for needed liquidity and encouraging them to retain substantial ownership of their shares.
In addition, the employer's 50 % matching contribution on compensation deferred under the plan was made in
FedEx common
stock equivalent units.
FedEx's restricted
stock program has been in place for over 20 years and has encouraged
FedEx executives to own and retain company
stock.
When granting restricted
stock,
FedEx first determines the total target value of the award and then approves the delivery of that value in two components: restricted shares and cash payment of taxes due.
Alternatively, you may bring other proof of ownership, such as a brokerage account statement, which clearly shows your ownership of
FedEx common
stock as of the record date.
Subject to the provisions of the plan, distributions to participants with respect to their
stock units may be paid in shares of
FedEx common
stock on a one - for - one basis.
The following chart illustrates this principle, using the target value for the fiscal year 2014 restricted
stock awards granted to
FedEx Corporation executive vice presidents (as in previous years, Mr. Smith did not receive a restricted
stock award in fiscal 2014):
Following
FedEx's acquisition of Caliber, Caliber
stock units under the plan were converted to
FedEx common
stock equivalent units.
Participants may continue to acquire
FedEx common
stock equivalent units under the plan, however, pursuant to dividend equivalent rights.
Rival
FedEx (FDX) has seen its
stock soar 30 % during the same span.
«RESOLVED: The stockholders of
FedEx Corporation (the «Company») urge the compensation committee of the board of directors to adopt a policy that the Company will not pay the personal taxes owned on restricted
stock awards on behalf of named executive officers.
In order to encourage significant
stock ownership by our directors and senior officers, and to further align their interests with the interests of
FedEx's stockholders, the Board of Directors has established a goal that (i) within four years after joining the Board, each non-management director own
FedEx shares valued at three times his or her annual retainer fee, and (ii) within four years after being appointed to his or her position, each member of senior management own
FedEx shares valued at the following multiple of his or her annual base salary:
If you own shares of
FedEx common
stock through the
FedEx employee
stock purchase plan or any
FedEx or subsidiary benefit plan, you can direct the record holder or the plan trustee to vote the shares held in your account in accordance with your instructions by completing the proxy card and returning it in the enclosed envelope or by registering your instructions via the Internet or telephone as directed on the proxy card.
The
stock ownership goal is included in
FedEx's Corporate Governance Guidelines.
The
stocks that contributed most to the quarter's return were National Oilwell Varco,
FedEx, Baker Hughes, Dover and General Motors.
Stock eliminations during the quarter were
FedEx, Illinois Tool Works and Scripps Networks Interactive.
We owned
FedEx shares in the Fund for three years and eliminated the holding as the
stock neared our sell target.
The gap between
FedEx's price and value increased significantly during the most recent quarter, making it appear to be one of the most undervalued
stocks on our approved list that we did not yet own.
He has also served as Delaware counsel for directors and board committees for such corporations as ABB, Ltd., Adelphia Communications Corporation, Airgas, Inc., Affiliated Computer Services, Inc., Alpha Natural Resources, Inc., AMF Holdings, Inc., Anheuser Busch Companies, Inc., Applied Materials, Inc., Ashworth, Inc., Bank of America Corporation, BarnesandNoble.com, Biosite, Inc., Cablevision Systems Corporation, Caterpillar, Inc., Citigroup, Inc., Clear Channel Outdoor Holdings, Inc., Coeur Mining, Inc., Computer Associates International, Inc., Cornerstone Therapeutics, Inc., Countrywide Financial Corporation, Countrywide Home Loans, Inc., Cysive, Inc., Danfoss A / S, Dreamworks Animation SKG, Duncan Energy Partners, E. I. du Pont de Nemours & Co., Inc., EON Labs, Inc., Epicor Software Corporation, Erickson Air Crane Inc., Fairfield Communities, Inc.,
FEDEX Corporation, First Franklin Financial Corporation, Fox & Hound Restaurant Group, FTI Consulting Inc., G.P. Strategies Inc., Gemstar International Group Ltd., Genencor International, Inc., Golden Telecom, Inc., Goldman Sachs, Google Inc., Health Management Associates, Inc., Hewlett - Packard Company, Hilton Worldwide Holdings, Inc., Houlihan's Restaurants, Inc., Huntsman Corporation, IGEN, Inc., ImClone Systems Incorporated, infoUSA, Inc., Insituform East, Inc., Intel Corporation, IntercontinentalExchange, Inc., iPass, Inc., Kenetech Corporation, Levi Strauss Associates, Inc., Liberty Media Corporation, Lifepoint Hospitals, Inc., Lorillard, Inc., Maytag Corporation, Micro General Corporation, Motorola, Inc., National Amusements, Inc. (majority stockholder of Viacom), National Steel Corporation, Net2Phone, News Corporation, NRG Energy, Inc., OEC Corporation, Online - City Search, Inc., PeopleSoft, Inc., Pharmacia Corporation, Phonefree.com, PLM International Inc., Printcafe Software, Inc., Pure Resources, Inc., Quest Software, Rent - A-Center, Inc., Rental Service Corporation, Republic Industries, Inc., Rockefeller Center Properties, Inc., Siliconix Incorporated, Simon Property Group Inc., Softbank Corp., Sotheby's, Space Imaging, Inc.,
Stock Building Supply Holdings, Inc., Suntory Holdings Limited, Take Two Interactive Software, Inc., Teppco Partners, L.P., The Hertz Corporation, The Talbots, Inc., Teva Pharmaceuticals USA, Inc., The Vanguard Group, Inc., The Walt Disney Company, TicketMaster, Todd A-O Corporation, Triad Hospitals, Inc., Unico Corporation, UTStarcom, Inc., Utz Quality Foods, Inc., Venoco, Inc., Veterinary Centers of America, Inc., VMWare, Inc., Walmart Stores, Inc., Walter Industries, Inc., Wheeling - Pittsburgh Corporation, Whistlepig, LLC, Wynn Resorts, Ltd., Zynga, Inc..
Among the DG
stocks in the transportation sector are the railroads CSX (CSX) and Norfolk Southern (NSC), the shipping companies
FedEx (FDX) and J. B. Hunt (JBHT), and the logistics companies Expeditors International of Washington (EXPD) and C. H. Robinson Worldwide (CHRW).
FedEx has split its
stock 5 times, each time 2 - for - 1.
This means, when you've forgotten to
stock up, you won't have to desperately wait for a nearby store to open or keep your eye out for the
FedEx truck if you tend to order them online.
The
stocks of local retailers supply the service's virtual cornucopia, while various Google contractors — among them
FedEx, UPS, Dynamex, Lasership, and OnTrac — handle the logistics.
IN
STOCK ITEMS • If you selected Ground Shipment, your order should be delivered within 7 - 10 business days • If you selected
FedEx Second Day, your order should be delivered in 2 - 3 business days • If you selected
FedEx Overnight, your order should be delivered in 1 - 2 business days.
You can print these out on card
stock at home, or send the file to be printed at your local Staples,
FedEx, or other print shop.