Expeditors International of Washington Inc. Files Definitive Proxy Statement

Ticker: EXPD · Form: DEF 14A · Filed: Mar 26, 2024 · CIK: 746515

Sentiment: neutral

Topics: DEF 14A, Proxy Statement, Corporate Governance, Executive Compensation, Shareholder Meeting

TL;DR

<b>Expeditors International of Washington Inc. has filed its Definitive Proxy Statement for the period ending December 31, 2023.</b>

AI Summary

EXPEDITORS INTERNATIONAL OF WASHINGTON INC (EXPD) filed a Proxy Statement (DEF 14A) with the SEC on March 26, 2024. Expeditors International of Washington Inc. filed a Definitive Proxy Statement (DEF 14A) on March 26, 2024. The filing covers the period ending December 31, 2023. The company's principal executive offices are located at 1015 Third Avenue, Seattle, WA 98104. The filing includes information related to various adjustment types and membership in indices like the Dow Jones Transportation Average Index. The fiscal year end for the company is December 31.

Why It Matters

For investors and stakeholders tracking EXPEDITORS INTERNATIONAL OF WASHINGTON INC, this filing contains several important signals. This DEF 14A filing is a standard requirement for publicly traded companies to provide shareholders with information regarding annual meetings, director elections, executive compensation, and other corporate governance matters. The inclusion of index memberships and adjustment types suggests the company is providing context for performance metrics or executive compensation calculations, which are key areas of interest for investors.

Risk Assessment

Risk Level: low — EXPEDITORS INTERNATIONAL OF WASHINGTON INC shows low risk based on this filing. The filing is a routine DEF 14A, containing standard corporate governance and proxy information, with no immediate financial or operational red flags.

Analyst Insight

Review the proxy statement for details on executive compensation, director nominations, and any shareholder proposals to understand potential impacts on corporate strategy and governance.

Key Numbers

Key Players & Entities

FAQ

When did EXPEDITORS INTERNATIONAL OF WASHINGTON INC file this DEF 14A?

EXPEDITORS INTERNATIONAL OF WASHINGTON INC filed this Proxy Statement (DEF 14A) with the SEC on March 26, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by EXPEDITORS INTERNATIONAL OF WASHINGTON INC (EXPD).

Where can I read the original DEF 14A filing from EXPEDITORS INTERNATIONAL OF WASHINGTON INC?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by EXPEDITORS INTERNATIONAL OF WASHINGTON INC.

What are the key takeaways from EXPEDITORS INTERNATIONAL OF WASHINGTON INC's DEF 14A?

EXPEDITORS INTERNATIONAL OF WASHINGTON INC filed this DEF 14A on March 26, 2024. Key takeaways: Expeditors International of Washington Inc. filed a Definitive Proxy Statement (DEF 14A) on March 26, 2024.. The filing covers the period ending December 31, 2023.. The company's principal executive offices are located at 1015 Third Avenue, Seattle, WA 98104..

Is EXPEDITORS INTERNATIONAL OF WASHINGTON INC a risky investment based on this filing?

Based on this DEF 14A, EXPEDITORS INTERNATIONAL OF WASHINGTON INC presents a relatively low-risk profile. The filing is a routine DEF 14A, containing standard corporate governance and proxy information, with no immediate financial or operational red flags.

What should investors do after reading EXPEDITORS INTERNATIONAL OF WASHINGTON INC's DEF 14A?

Review the proxy statement for details on executive compensation, director nominations, and any shareholder proposals to understand potential impacts on corporate strategy and governance. The overall sentiment from this filing is neutral.

How does EXPEDITORS INTERNATIONAL OF WASHINGTON INC compare to its industry peers?

Expeditors International of Washington Inc. operates in the transportation and freight arrangement industry, providing global logistics and freight forwarding services.

Are there regulatory concerns for EXPEDITORS INTERNATIONAL OF WASHINGTON INC?

The filing is a DEF 14A, which is a regulatory filing required by the Securities and Exchange Commission (SEC) for public companies.

Industry Context

Expeditors International of Washington Inc. operates in the transportation and freight arrangement industry, providing global logistics and freight forwarding services.

Regulatory Implications

The filing is a DEF 14A, which is a regulatory filing required by the Securities and Exchange Commission (SEC) for public companies.

What Investors Should Do

  1. Analyze executive compensation packages detailed in the proxy statement.
  2. Review director nominations and qualifications presented for shareholder vote.
  3. Identify any shareholder proposals and the company's stance on them.

Year-Over-Year Comparison

This is a DEF 14A filing, which is a routine disclosure and does not represent a change from previous filings in terms of its nature, but provides updated information for the current reporting period.

Filing Stats: 4,340 words · 17 min read · ~14 pages · Grade level 13.5 · Accepted 2024-03-26 16:55:49

Key Financial Figures

Filing Documents

From the Filing

DEF 14A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.) Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material Pursuant to 240.14a-12 Expeditors International of Washington, Inc. (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Statement if other than the Registrant) Payment of Filing Fee (Check all boxes that apply): No fee required. Fee paid previously with preliminary materials. Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11 Expeditors 2019 Notice of Annual Meeting & Proxy Statement EXPEDITORS INTERNATIONAL OF WASHINGTON, INC. CORPORATE HEADQUARTERS SEATTLE, WA EXPEDITORS NOTICE OF ANNUAL MEETING & PROXY STATEMENT 202 Resolve Our People Expeditors International of Washington Inc. Corporate Headquarters Seattle, WA March 26, 2024 To Our Shareholders Compared to the pandemic years, 2023 should have been relatively benign. The skyrocketing demands of a stay-at-home economy evaporated; global supply chain bottlenecks and dislocations largely disappeared; the massive shortage of available space in the air and on the oceans reversed course; and rates plummeted from unsustainable all-time highs. In comparison to that combination of events, 2023 should have been a relatively normal year by historical standards. But when the massive disruptions and chaos of the pandemic years began to unwind, we entered a period that was no less disruptive than were any of the COVID-19 years. Compared to the years of pandemic chaos, which triggered the greatest run of profitability in our company's history, 2023 might appear disappointing. Yet revenues and operating income were stronger in 2023 than the last pre-pandemic year of 2019. Unlike 2019, we spent much of 2023 quickly adjusting to tumbling demand, surging capacity, and rapid declines in pricing, making last year as disruptive as the prior three years, just in the opposite direction. As during other times of momentous disruption, we have remained flexible and deliberate in how we adapt, holding close those things that are most important to our culture and our long-term success. As operating conditions began to whiplash in late 2022 and throughout 2023, we chose not to over-correct. We thoughtfully downshifted our costs to bring operating efficiencies back to historical norms. We did not conduct sweeping reductions in headcount that we believe would be detrimental to our future success. Throughout our long history we have learned that down times are optimal for refining our processes and strengthening our organization for the more robust times to come. Notwithstanding the potential impact from the latest myriad geopolitical conflicts, there are reasons for optimism. Air volumes ticked up modestly on a sequential basis in the second half of 2023, and global economic uncertainty and excess inventory did not spark the freight recession that many had feared in 2023, suggesting perhaps that shippers, carriers – all of us – have learned some important lessons about the fragility of supply chains. We are optimistic enough to believe those lessons will be good for us and for the future of our industry. We ask for your vote : We ask you to vote FOR the Board's nine recommended director nominees and three proposals put forth by the Board of Directors. We also ask you to carefully evaluate and vote AGAINST two shareholder proposals that we believe are unnecessary, counter-productive, and costly for shareholders. They are out of step with the increased recognition that many of these over-reaching, politically motivated special interest initiatives are harming shareholders and other corporate stakeholders. The first proposal is similar to a proposal received last year. Given shareholder feedback last year, we are making meaningful, responsive disclosures to address the proponent's information requests. That information is provided in this proxy and includes: our full EEO-1 report on U.S. workers; the complete gender mix of our non-U.S. workforce; and a report showcasing the makeup of our Senior Management team over the last ten years, which has changed significantly under the leadership of our CEO. All new Senior Management team leaders have been promoted from within, a testament to our naturally diverse workforce that strives to grow into leadership roles. We do not believe any further DEI reports are necessary – additional reports would be costly to prepare while failing to provide any further meaningful information on a stand-alone basis; and would not be useful in light of a cu

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