FedEx board approves FedEx Freight spinoff; FDXF to begin trading June 1

FedEx Corp. (NYSE: FDX) said on May 13, 2026, its board approved the spinoff of its less-than-truckload unit, FedEx Freight, with the separation expected to close on June 1, 2026. Under the plan, FedEx will distribute 80.1% of FedEx Freight’s outstanding common stock to shareholders on a pro rata basis. Holders of record as of May 15, 2026, will receive one share of the new company for every two FedEx shares held. FedEx will retain a 19.9% stake, which it plans to dispose of within 24 months through debt repayment or shareholder dividends. FedEx Freight is expected to trade on the New York Stock Exchange under the ticker FDXF beginning June 1, while FedEx will continue trading as FDX. The distribution is expected to be tax-free for U.S. federal income tax purposes. FedEx Freight generates about $9 billion in annual revenue and operates 365 terminals and 30,000 vehicles.