FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      
1. Name and Address of Reporting Person * MERINO JOHN L 2. Issuer Name and Ticker or Trading Symbol FEDEX CORP [ FDX ] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)_____ Director                    _____ 10% Owner
__X__ Officer (give title below)    _____ Other (specify below)
CVP PRIN ACCT OFFICER
(Last)         (First)         (Middle)
942 SOUTH SHADY GROVE ROAD
3. Date of Earliest Transaction (MM/DD/YYYY)
9/18/2020
(Street)
MEMPHIS, TN 38120
(City)       (State)       (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)
 
6. Individual or Joint/Group Filing (Check Applicable Line) _X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock  9/18/2020    M    5035  A $96.865  37213 (1) D   
Common Stock  9/18/2020    M    5745  A $143.545  42958  D   
Common Stock  9/18/2020    M    4770  A $180.82  47728  D   
Common Stock  9/18/2020    M    5655  A $162.82  53383  D   
Common Stock  9/18/2020    M    3776  A $207.305  57159  D   
Common Stock  9/18/2020    S    24981  D $246.1585 (2) 32178  D   

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Non-qualified Stock Option (Right to Buy)  $96.865  9/18/2020    M        5035    (3) 6/3/2023  Common Stock  5035  $0  0  D   
Non-qualified Stock Option (Right to Buy)  $143.545  9/18/2020    M        5745    (3) 6/9/2024  Common Stock  5745  $0  0  D   
Non-qualified Stock Option (Right to Buy)  $180.82  9/18/2020    M        4770    (3) 6/8/2025  Common Stock  4770  $0  0  D   
Non-qualified Stock Option (Right to Buy)  $162.82  9/18/2020    M        5655    (3) 6/6/2026  Common Stock  5655  $0  0  D   
Non-qualified Stock Option (Right to Buy)  $207.305  9/18/2020    M        3776    (3) 6/12/2027  Common Stock  3776  $0  1259  D   

Explanation of Responses:
(1)  Ownership has been adjusted to reflect 107 shares that were acquired via dividend reinvestment as a result of dividends paid to all stockholders.
(2)  The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $246.12 to $246.47, 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.
(3)  These options first exercisable one year from date of grant.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
MERINO JOHN L
942 SOUTH SHADY GROVE ROAD
MEMPHIS, TN 38120


CVP PRIN ACCT OFFICER

Signatures
/s/ John L. Merino 9/18/2020
**Signature of Reporting Person Date
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