<SUBMISSION>
<ACCESSION-NUMBER>0000950123-09-012599
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20090608
<ITEMS>5.02
<ITEMS>9.01
<FILING-DATE>20090609
<DATE-OF-FILING-DATE-CHANGE>20090609
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>FEDEX CORP
<CIK>0001048911
<ASSIGNED-SIC>4513
<IRS-NUMBER>621721435
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>0531
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<FORM-TYPE>8-K
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<FILE-NUMBER>001-15829
<FILM-NUMBER>09882386
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<BUSINESS-ADDRESS>
<STREET1>942 SOUTH SHADY GROVE ROAD
<CITY>MEMPHIS
<STATE>TN
<ZIP>38120-
<PHONE>9018187500
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>942 SOUTH SHADY GROVE ROAD
<CITY>MEMPHIS
<STATE>TN
<ZIP>38120-
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>FDX CORP
<DATE-CHANGED>19971103
</FORMER-COMPANY>
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<TYPE>8-K
<SEQUENCE>1
<FILENAME>c86509e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>Form 8-K</TITLE>
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<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>

<P align="center" style="font-size: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P align="center" style="font-size: 10pt"><B>Date of Report (Date of earliest event reported): June 8, 2009</B>

<P align="center">

<P align="center" style="font-size: 24pt"><B>FedEx Corporation<BR></B>
<FONT style="font-size: 10pt">(Exact name of registrant as specified in its charter)
</FONT>

<TABLE border="0" width="100%" cellspacing="0" cellpadding="0" style="font-size: 10pt; text-align: center">
<TR>
    <TD width="32%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="33%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="32%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD style="border-bottom: 1px solid #000000"><B>Delaware</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>1-15829</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>62-1721435</B></TD>
</TR>
<TR valign="top">
    <TD>(State or other Jurisdiction of Incorporation)</TD>
    <TD>&nbsp;</TD>
    <TD>(Commission File Number)</TD>
    <TD>&nbsp;</TD>
    <TD>(IRS Employer Identification No.)</TD>
</TR>
</TABLE>

<TABLE border="0" width="100%" cellspacing="0" cellpadding="0" style="font-size: 10pt; text-align: center">
<TR>
    <TD width="49%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="49%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD style="border-bottom: 1px solid #000000"><B>942 South Shady Grove Road, Memphis, Tennessee<BR></B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>38120</B></TD>
</TR>
<TR valign="top">
    <TD>(Address of Principal Executive Offices)</TD>
    <TD>&nbsp;</TD>
    <TD>(Zip Code)</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt">Registrant&#146;s telephone number, including area code: <B>(901) 818-7500</B>


<TABLE border="0" width="30%" cellspacing="0" cellpadding="0" style="font-size: 10pt; text-align: center">
<TR>
    <TD width="100%">&nbsp;</TD>
</TR>
<TR>
    <TD nowrap style="border-bottom: 1px solid #000000"><B>&nbsp;</B></TD>
</TR>
<TR>
    <TD nowrap>(Former name or former address if changed since last report.)</TD>
</TR>
</TABLE>

<P align="left" style="font-size: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:

<P align="left" style="font-size: 10pt">
<FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


<P>
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<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>

</DIV>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt; display: none">1
</DIV>

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<P align="left" style="font-size: 10pt"><B>SECTION 5 &#150; CORPORATE GOVERNANCE AND MANAGEMENT</B>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>Item&nbsp;5.02.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.</B></TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt; text-indent: 4%"><I>(d)&nbsp;Election of New Director: </I>On June&nbsp;8, 2009, the Board of Directors of FedEx Corporation elected Ambassador
Susan C. Schwab as a director, effective immediately. The Board also appointed Ambassador Schwab as a member of its
Compensation Committee. A copy of FedEx&#146;s press release announcing Ambassador Schwab&#146;s election is attached hereto as
Exhibit&nbsp;99.1 and is incorporated by reference herein.


<P align="left" style="font-size: 10pt; text-indent: 4%">Ambassador Schwab was elected for a term expiring at the annual meeting of stockholders in September&nbsp;2009, at
which time her continued Board service will be subject to renomination and stockholder approval. With the election of
Ambassador Schwab, the size of the Board of Directors is now 12 members.


<P align="left" style="font-size: 10pt; text-indent: 4%">The Board of Directors has determined that Ambassador Schwab is independent and meets the applicable independence
requirements of the New York Stock Exchange and the Board&#146;s more stringent standards for determining director
independence. There have been no transactions since the beginning of FedEx&#146;s last fiscal year, and there are no
currently proposed transactions, in which FedEx was or is to be a participant and in which Ambassador Schwab or any
member of her immediate family had or will have any interest, that are required to be reported under Item 404(a) of
Regulation&nbsp;S-K.


<P align="left" style="font-size: 10pt; text-indent: 4%">The selection of Ambassador Schwab was not pursuant to any arrangement or understanding between her and any other
person. A third-party executive search firm engaged by the Nominating &#038; Governance Committee provided assistance
in identifying Ambassador Schwab as a potential Board candidate. Frederick W. Smith, FedEx&#146;s Chairman of the Board, President and Chief Executive Officer, and Peter S.
Willmott, Chairman of the Nominating &#038; Governance Committee of the Board, recommended Ambassador Schwab as a nominee
for election.


<P align="left" style="font-size: 10pt; text-indent: 4%">Ambassador Schwab will be compensated in accordance with previously disclosed compensation programs for FedEx&#146;s
non-management (outside)&nbsp;directors. Accordingly, she received a stock option for 4,400 shares of FedEx common stock
upon her election to the Board.


<P align="left" style="font-size: 10pt; text-indent: 4%"><I>(e)&nbsp;Adoption of Compensatory Plan: </I>On June&nbsp;8, 2009, the Board of Directors of FedEx, upon the recommendation of
its Compensation Committee, approved FedEx&#146;s FY2010-FY2012 long-term incentive compensation (LTI)&nbsp;plan.


<P align="left" style="font-size: 10pt; text-indent: 4%">The LTI program provides a long-term cash payment opportunity to members of management, including the named
executive officers, based upon achievement of aggregate diluted earnings-per-share (EPS)&nbsp;goals for the preceding
three-fiscal-year period. The LTI plan design provides for payouts that correspond to specific EPS goals established
by the Board of Directors. The EPS goals represent total growth in EPS (over a base year) for the three-year term of
the LTI plan. The LTI program provides for:


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Target payouts if the three-year average annual EPS growth rate is 12.5%;</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Above-target payouts if the growth rate is above 12.5% up to a maximum amount (equal to 150% of the
target payouts) if the growth rate is 15% or higher; and</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Below-target payouts if the growth rate is below 12.5% down to a threshold amount (equal to 25% of the
target payouts) if the growth rate is 5%. No LTI payment is made unless the three-year average annual
EPS growth rate is at least 5%.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt">2




<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt; display: none">2
</DIV>

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<P align="left" style="font-size: 10pt; text-indent: 4%">Traditionally, the base-year number over which the three-year average annual EPS growth rate goals are measured for
an LTI plan is the final full-year EPS of the preceding fiscal year. For the FY2010-FY2012 LTI plan, however, the
base-year number will be equal to the FY2010 business plan EPS goal
less 12.5%. The Board
believes this modification is appropriate in order to address the current economic environment and our current earnings
stream and restore the motivating power of the plan. Otherwise, the FY2010-FY2012 LTI plan (including the
three-year average annual EPS growth rate goals described above and the threshold, target and maximum payouts) for the
named executive officers is materially consistent with the previously disclosed terms of the LTI program.


<P align="left" style="font-size: 10pt"><B>SECTION 9. FINANCIAL STATEMENTS AND EXHIBITS.</B>


<P align="left" style="font-size: 10pt"><B>Item&nbsp;9.01. Financial Statements and Exhibits.</B>



<P align="left" style="margin-left:4%; font-size: 10pt"><I>(d)&nbsp;Exhibits:</I>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" colspan="3" style="border-bottom: 0px solid #000000"><B>Exhibit</B></TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Number</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Press Release of FedEx Corporation dated June&nbsp;8, 2009.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">3




<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt; display: none">3
</DIV>

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<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>



<P align="left" style="font-size: 10pt; text-indent: 4%">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly authorized.



<P align="left" style="margin-left:48%; font-size: 10pt"><B>FedEx Corporation</B>


<P align="left" style="font-size: 10pt">Date: June&nbsp;9, 2009



<P align="left" style="margin-left:48%; font-size: 10pt; margin-top: -11pt">By: <U><B>/</B>s/ John L.
Merino&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;John L. Merino
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate Vice President and
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Principal Accounting Officer


<P align="center" style="font-size: 10pt">



<P align="center" style="font-size: 10pt">4




<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt; display: none">4
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<P align="center" style="font-size: 10pt"><B>EXHIBIT INDEX</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" colspan="3" style="border-bottom: 0px solid #000000"><B>Exhibit</B></TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Number</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Press Release of FedEx Corporation dated June&nbsp;8, 2009.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="right" style="font-size: 10pt">



<P align="center" style="font-size: 10pt">E-1




<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt; display: none">5
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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>c86509exv99w1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<HEAD>
<TITLE>Exhibit 99.1</TITLE>
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<DIV align="right" style="font-size: 10pt; margin-top: 10pt"><U><B>Exhibit&nbsp;99.1</B></U>
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 10pt">FOR IMMEDIATE RELEASE
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>Former United States Trade Representative Joins<BR>
FedEx Corp. Board of Directors</B><BR>
<I>Board Maintains Amount of Quarterly Dividend</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">MEMPHIS, Tenn., June&nbsp;8, 2009 &#151; The Board of Directors of FedEx Corp. (NYSE: FDX) today elected
Ambassador Susan C. Schwab, U.S. Trade Representative from 2006 to 2009, as a director. The Board
also appointed Ambassador Schwab as a member of its Compensation Committee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">&#147;We are delighted to welcome Ambassador Schwab to our Board of Directors,&#148; said Frederick W. Smith,
chairman, president and chief executive officer of FedEx Corp. &#147;As a global company, we look
forward to benefiting immediately from her vast experience and knowledge of international trade and
policy issues.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Ambassador Schwab, 54, currently is a professor at the University of Maryland&#146;s School of Public
Policy. She served as dean of the school from 1995 to 2003 and was president of the University
System of Maryland Foundation before rejoining the U.S. Government in 2005. She also worked in the
private sector as director of business development for Motorola in the early 1990s.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Ambassador Schwab has held many distinguished positions in the U.S. Government in addition to
serving as the country&#146;s top trade representative. She has been the Director-General of the U.S. &#038;
Foreign Commercial Service of the U.S. Department of Commerce; a trade policy officer at the U.S.
Embassy in Tokyo, Japan; and a senior aide to former U.S. Senator John C. Danforth.
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

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<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Ambassador Schwab was awarded a Ph.D. in public administration and international business from The
George Washington University, an M.A. in development policy from Stanford University, and a B.A. in
political economy from Williams College. She serves on the board of directors of Caterpillar Inc.,
the board of visitors of the United States Air Force Academy and the board of directors of the
Signature Theatre in Arlington, Virginia.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">In another action today, the FedEx Board of Directors declared a quarterly cash dividend of $0.11
per share on FedEx Corporation common stock. The dividend is payable July&nbsp;1, 2009 to stockholders
of record at the close of business on June&nbsp;18, 2009. In connection with today&#146;s dividend
declaration, the Board conducted its annual evaluation of the quarterly dividend payment amount,
and in light of current macroeconomic conditions, decided not to increase the amount at the present
time.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><U><B>Corporate Overview</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of
transportation, <FONT style="white-space: nowrap">e-commerce</font> and business services. With annual revenues of $38&nbsp;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&#146;s
most admired and trusted employers, FedEx inspires its more than 290,000 team members to remain
&#147;absolutely, positively&#148; focused on safety, the highest ethical and professional standards and the
needs of their customers and communities. For more information, visit news.fedex.com.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Media Contact: Jess Bunn 901-818-7463<BR>
Investor Contact: Mickey Foster 901-818-7468<BR>
Home Page: <I>fedex.com</I>

</DIV>


<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
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