FEDEX CORP — Director's Dealing 2010

Mar 31, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FEDEX CORP (FDX)
CIK: 0001048911
Period of Report: 2010-03-29

Reporting Person: SMITH FREDERICK W (Director, Chairman/President/CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-03-29	Common Stock	M	2777	$36.00	Acquired	15344312	Direct
2010-03-29	Common Stock	M	297223	$36.00	Acquired	15641535	Direct
2010-03-29	Common Stock	S	183350	$92.1822	Disposed	15458185	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-03-29	Incentive Stock Option (Right to Buy)	$36.00	M	2777	Disposed	2010-06-01	Common Stock (2777)	Direct
2010-03-29	Non-qualified Stock Option (Right to Buy)	$36.00	M	297223	Disposed	2010-06-01	Common Stock (297223)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4141280	Indirect
Common Stock	102928	Indirect
Common Stock	736	Indirect
Common Stock	2301	Indirect

Footnotes

F1: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $92.05 to $92.34, inclusive. The reporting person undertakes to provide to FedEx Corporation, any security holder of FedEx Corporation, or the staff of the Securities and Exchange commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote to this Form 4.

F2: Ownership has been adjusted to reflect dividend paid to all holders of record.

F3: These options first exercisable one year from date of grant.