XPO, Inc. — Director's Dealing 2011

Nov 23, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: XPO Logistics, Inc. (XPO)
CIK: 0001166003
Period of Report: 2011-11-21

Reporting Person: JESSELSON MICHAEL G (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-11-21	Restricted Stock Units	$	A	2500	Acquired		Common Stock, par value $0.001 per share (2500)	Direct
2011-11-21	Director Stock Options (right to buy)	$9.28	A	8000	Acquired	2021-11-21	Common Stock, par value $0.001 per share (8000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, par value $0.001 per share	12000	Indirect
Common Stock, par value $0.001 per share	12000	Indirect
Common Stock, par value $0.001 per share	12000	Indirect
Common Stock, par value $0.001 per share	10000	Indirect
Common Stock, par value $0.001 per share	15000	Direct
Common Stock, par value $0.001 per share	10000	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
See footnote	$7		Common Stock, par value $0.001 per share (103570)	725	Indirect
Warrants	$7	2021-09-02	Common Stock, par value $0.001 per share (103572)	103572	Indirect

Footnotes

F1: The Michael G. Jesselson and Linda Jesselson 3/12/84 Trust is the direct beneficial owner of these securities. Michael G. Jesselson is a trustee of this trust.

F2: The Michael G. Jesselson and Linda Jesselson 11/26/85 Trust is the direct beneficial owner of these securities. Michael G. Jesselson is a trustee of this trust.

F3: The Michael G. Jesselson and Linda Jesselson 3/31/87 Trust is the direct beneficial owner of these securities. Michael G. Jesselson is a trustee of this trust.

F4: The Michael G. Jesselson and Linda Jesselson 6/30/93 Trust is the direct beneficial owner of these securities. Michael G. Jesselson is a trustee of this trust.

F5: These securities are held in an individual retirement account of Michael G. Jesselson.

F6: Michael G. Jesselson's spouse is the direct beneficial owner of these securities.

F7: Each Restricted Stock Unit represents a contingent right to receive, upon settlement, either (i) one share of Common Stock or (ii) a cash payment equal to the fair market value of one share of Common Stock.

F8: The Restricted Stock Units shall initially be unvested. The Restricted Stock Units shall vest on September 2, 2012, subject to Michael G. Jesselson's continued service as a director of the Issuer, and shall be settled within 30 following the vesting date.

F9: The Director Stock Options shall initially be unvested, and shall vest and become exercisable on September 2, 2012, subject to Michael G. Jesselson's continued service as a director of the Issuer.

F10: The initial conversion price of the Series A Convertible Perpetual Preferred Stock is $7 per share of Common Stock, subject to adjustment as set forth in the Certificate of Designation of Series A Convertible Perpetual Preferred Stock, filed as Exhibit 4.1 to the Issuer's Current Report on Form 8-K filed with the SEC on September 6, 2011 (the "Certificate of Designation").

F11: The Series A Convertible Perpetual Preferred Stock has no expiration date.

F12: Represents (i) 71,428 shares of Common Stock initially issuable upon conversion of 500 shares of Series A Convertible Perpetual Preferred Stock held by the Michael G. Jesselson 12/18/80 Trust and (ii) 32,142 shares of Common Stock initially issuable upon conversion of 225 shares of Series A Convertible Perpetual Preferred Stock held by the Michael G. Jesselson 4/8/71 Trust, in each case subject to adjustment as set forth in the Certificate of Designation.

F13: The Michael G. Jesselson 12/18/80 Trust and the Michael G. Jesselson 4/8/71 Trust are the direct beneficial owners of these securities. Michael G. Jesselson is the beneficiary of each of these trusts.

F14: The initial exercise price of the Warrants is $7 per share of Common Stock, subject to adjustment as set forth in the Form of Warrant Certificate, filed as Exhibit 4.2 to the Issuer's Current Report on Form 8-K filed with the SEC on September 6, 2011 (the "Warrant Certificate").

F15: Represents (i) 71,429 shares of Common Stock initially issuable upon the exercise of 71,429 Warrants held by the Michael G. Jesselson 12/18/80 Trust and (ii) 32,143 shares of Common Stock initially issuable upon the exercise of 32,143 Warrants held by the Michael G. Jesselson 4/8/71 Trust, in each case subject to adjustment as set forth in the Warrant Certificate.

F16: Series A Convertible Perpetual Preferred Stock, par value $0.001 per share.