FDX - Witnessing An Insider Decision Frederick W Smith Exercises Options Valued At $20.56M At FedEx | Benzinga
A significant insider transaction involving the exercise of company stock options was reported on April 9, by Frederick W Smith, Executive Chairman at FedEx (NYSE:FDX), as per the latest SEC filing.
What Happened: A notable Form 4 filing on Tuesday with the U.S. Securities and Exchange Commission revealed that Smith, Executive Chairman at FedEx, exercised stock options for 159,485 shares of FDX, resulting in a transaction value of $20,564,793.
FedEx shares are trading down 2.2% at $270.3 at the time of this writing on Wednesday morning. Since the current price is $270.3, this makes Smith's 159,485 shares worth $20,564,793.
Delving into FedEx's Background
FedEx pioneered overnight delivery in 1973 and remains the world's largest express package provider. In its fiscal 2023, which ended May 2023, FedEx derived 47% of revenue from its express division, 37% from ground, and 11% from freight, its asset-based less-than-truckload shipping segment. The remainder comes from other services, including FedEx Office, which provides document production/shipping, and FedEx Logistics, which provides global forwarding. FedEx acquired Dutch parcel delivery firm TNT Express in 2016. TNT was previously the fourth-largest global parcel delivery provider.
A Deep Dive into FedEx's Financials
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