FedEx Takes New Step in Spin-Off Plan of LTL Units

FedEx Files Securities and Exchange Commission (SEC) Paperwork for Planned Spin-Off of Less-Than-Truckload (LTL) Units

FedEx Corp. has filed a Form 10 registration statement with the U.S. Securities and Exchange Commission as part of its plan to spin off its less-than-truckload (LTL) business into a separate company. The move is a key step toward a planned FedEx spin-off that would make the LTL unit an independent, publicly traded carrier.

The separation is expected to be completed on June 1, 2026. It is pending final approval by the company’s board of directors and other customary closing conditions. Once finalized, the new company’s stock is expected to trade on the New York Stock Exchange under the ticker symbol “FDXF.”

What the FedEx Spin-Off Means

The Form 10 is a required SEC filing for companies preparing to operate as independent public businesses. It includes detailed information about the LTL unit’s operations, leadership structure, and business strategy.

FedEx said the filing reflects progress toward launching the LTL business as a focused, standalone carrier. The company did not announce immediate changes to daily operations. However, the filing sets the legal groundwork for separating the LTL division from FedEx’s parcel, express, and logistics units.

For drivers, this means the LTL operation would no longer be part of the broader FedEx corporate structure once the spin-off is finalized. Instead, it would operate as its own company with separate financial reporting, leadership, and long-term strategy.

Timeline for the FedEx Spin-Off

The company said it is targeting June 1, 2026, for completion of the spin-off. The company noted that the separation still depends on final board approval and other regulatory and legal steps.

They also announced plans to hold an Investor Day on April 8, 2026, in New York City. At that event, the future standalone company is expected to provide more details about its business model, long-term plans, and operating priorities. Until the spin-off is completed, the LTL unit will continue operating as part of FedEx Corp.

Leadership for the Standalone Company

FedEx said John Smith will serve as president and chief executive officer of the independent LTL company once the spin-off is finalized. President and CEO Raj Subramaniam said the Form 10 filing marks progress toward launching the LTL business as a separate company focused on the freight market.

The company described the filing as a milestone in preparing the business to operate independently. It did not announce any leadership or staffing changes tied directly to drivers or terminal operations.

FedEx LTL Operations and Network

According to FedEx, the LTL business is one of North America’s largest carriers in its segment. It operates across all 50 U.S. states, as well as Canada, Mexico, Puerto Rico, and the U.S. Virgin Islands.

The company offers multiple LTL service options designed to meet different delivery speed and cost needs. The network includes a large number of service centers and a workforce made up of tens of thousands of employees, including drivers, dockworkers, and support staff.

What Truck Drivers May Be Watching Closely

While FedEx did not announce any immediate changes affecting drivers, the spin-off could eventually lead to shifts in how the company operates as a standalone carrier.

Drivers and terminal staff may be watching for updates related to:

• Pay structures and benefits under a new corporate entity
• Equipment investment and fleet upgrades
• Terminal expansion or consolidation plans
• Changes to work rules or operating policies
• Hiring levels and driver demand
• Long-term freight volume trends within the LTL sector

The spin-off is being structured to be tax-free for FedEx and its stockholders for U.S. federal income tax purposes, except for any cash paid in place of fractional shares. They did not announce any driver-specific financial or employment changes tied to the filing.

What Happens Next

The Form 10 filing does not finalize the FedEx spin-off. It is one of several regulatory and corporate steps that must be completed before the separation can move forward.

FedEx said the transaction still requires final approval from its board of directors and must meet other closing conditions. Additional details about how the spin-off will affect operations, staffing, and long-term strategy are expected to be shared closer to the planned June 2026 separation date.

For now, the filing confirms that FedEx is continuing to move ahead with plans to separate its LTL business into its own publicly traded company, marking a major structural shift for one of the largest freight carriers in North America.