EXPD Expeditors International of Washington Inc

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM S-8

REGISTRATION STATEMENT

UNDER

THE SECURITIES ACT OF 1933

EXPEDITORS INTERNATIONAL OF WASHINGTON, INC.

(Exact name of registrant as specified in its charter)

 

Washington		91-1069248
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

 

1015 Third Avenue

Seattle, Washington 98104

(Address of Principal Executive Offices) (Zip Code)

 

EXPEDITORS INTERNATIONAL OF WASHINGTON, INC.

2002 EMPLOYEE STOCK PURCHASE PLAN

(Full title of the plan)

 

Jeffrey F. Dickerman,

Senior Vice President, General Counsel

Expeditors International of Washington, Inc.

1015 Third Avenue

Seattle, Washington 98104

(206) 674-3400

(Name and address and telephone number , including area code, of agent for service)

 

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of large accelerated filer, accelerated filer, smaller reporting company, and "emerging growth company" in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer	☒			Accelerated filer	☐
Non-accelerated filer	☐	(Do not check if a smaller reporting company)		Smaller reporting company	☐
Emerging growth company	☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.					☐

 

 

 

 

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INTRODUCTORY STATEMENT

This registration statement on Form S-8 registers 4,000,000 shares of common stock (“Common Shares”) of Expeditors International of Washington, Inc. (the “Registrant”) reserved for issuance pursuant to the Registrant’s 2002 Employee Stock Purchase Plan.

Pursuant to Rule 416(a) of the Securities Act of 1933, as amended (the “Securities Act of 1933”), this registration statement also covers any additional securities that may be offered or issued to prevent dilution resulting from stock splits, stock dividends or similar transactions.

PART I. INFORMATION REQUIRED IN THE SECTION 10(A) PROSPECTUS

Item 1. Plan Information.*

Item 2. Registrant Information and Employee Plan Annual Information.*

* This information is not required to be included in, and is not incorporated by reference in, this registration statement.

PART II. INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

Item 3. Incorporation of Documents by Reference.

The following documents, which have been filed with the United States Securities and Exchange Commission (the “Commission”), are incorporated herein by reference:

(a) The Registrant’s annual report on Form 10-K for the year ended December 31, 2023, filed with the Commission on February 23, 2024 pursuant to the Securities Exchange Act of 1934, as amended (the “Exchange Act of 1934”).

(b) All other reports filed pursuant to Section 13(a) or 15(d) of the Exchange Act of 1934 since the end of the fiscal year covered by the Registrant’s annual report incorporated by reference herein pursuant to (a) above.

(c) The description of the Registrant’s common shares contained in the Registrant’s registration statement on Form 8-A filed with the Commission on April 28, 1985 under Section 12(g) of the Exchange Act of 1934, including any amendment or report filed for the purpose of updating such description.

All documents subsequently filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act of 1934, prior to the filing of a post-effective amendment which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this registration statement and to be a part hereof from the date of filing of such documents. Any statement in any incorporated document contradicting the previous sentence will not be deemed to constitute a part of this registration statement.

Item 4. Description of Securities.

Not Applicable.

Item 5. Interests of Named Experts and Counsel.

Jeffrey F. Dickerman, Senior Vice President, General Counsel of the Registrant, has rendered his opinion regarding the legality of the Common Shares. Mr. Dickerman owns Common Shares, and is eligible to participate in the 2002 Employee Stock Purchase Plan.

Item 6. Indemnification of Directors and Officers.

Sections 23B.08.510 and 23B.08.570 of the Washington Business Corporation Act (the “Washington Act”) authorize Washington corporations to indemnify directors and officers under certain circumstances against expenses and liabilities incurred in legal proceedings in which they are involved by reason of being a director or officer, as applicable. Section 23B.08.320 of the Washington Act provides that a corporation's articles of incorporation may contain provisions not inconsistent with law that eliminate or limit a director's personal liability to the corporation or its shareholders for monetary damages for conduct as a director, except in certain circumstances involving intentional misconduct or a knowing violation of law, unlawful distributions, or any transaction from which the director personally receives a benefit in money, property or services to which the director is not legally entitled.

Article XII of the Registrant's Restated Articles of Incorporation, as amended, and Article IX of the Registrant's Amended and Restated Bylaws provide for indemnification of the Registrant's directors, officers, employees and agents to the maximum extent permitted by Washington law. The directors and officers of the Registrant also may be indemnified against liability they may incur for serving in that capacity pursuant to a liability insurance policy maintained by the Registrant for such purpose.

The Registrant has entered into contracts with its directors and officers memorializing the indemnification provisions referenced above.

Item 7. Exemption from Registration Claimed.

Not Applicable.

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Item 8. Exhibits.

 

Exhibit Number		Exhibit
5.1		Opinion of Jeffrey F. Dickerman, Senior Vice President, General Counsel
10.42		Amended and Restated Expeditors International of Washington, Inc. 2002 Employee Stock Purchase Plan (incorporated by reference to Appendix B to the Registrant’s definitive proxy statement on Schedule 14A, filed with the Commission on March 26, 2024)
23.1		Consent of KPMG LLP, Independent Registered Public Accountants
23.2		Consent of Jeffrey F. Dickerman, Senior Vice President, General Counsel (contained in his opinion filed as Exhibit 5.1 to this registration statement)
24.1		Power of Attorney (see signature page II-4 of this registration statement)
107		Filing Fee Table

 

Item 9. Undertakings.

(a) The undersigned Registrant hereby undertakes:

(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:

(i) To include any prospectus required by section 10(a)(3) of the Securities Act of 1933;

(ii) To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the “Calculation of Registration Fee” table in the effective registration statement;

(iii) To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement;

Provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) above do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant pursuant to section 13 or section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in the registration statement.

(2) That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

(b) The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the Registrant's annual report pursuant to section 13(a) or section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan's annual report pursuant to section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

(c) Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.

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Signatures

The Registrant. Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Seattle, State of Washington, on May 13, 2024.

 

	EXPEDITORS INTERNATIONAL OF WASHINGTON, INC.
	/s/ Bradley S. Powell
Name: Bradley S. Powell
Title: Senior Vice President and Chief Financial Officer

 

 

 

SIGNATURES OF OFFICERS AND DIRECTORS AND POWER OF ATTORNEY

 

Know all persons by these presents, that each person whose signature appears below hereby constitutes and appoints Jeffrey S. Musser, Bradley S. Powell and Jeffrey F. Dickerman, or any of them, his or her true and lawful attorneys-in-fact and agents, each with full power of substitution and resubstitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign any or all amendments or post-effective amendments to this registration statement, and to file the same with all exhibits thereto and other documents in connection therewith, with the United States Securities and Exchange Commission, granting unto each of said attorneys-in-fact and agents full power to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that any one or more of said attorneys-in-fact and agents or their substitutes may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the date indicated.

Signature		Title		Date
/s/ Jeffrey S. Musser		President, Chief Executive Officer, and Director		May 9, 2024
Jeffrey S. Musser		(Principal Executive Officer)
/s/ Bradley S. Powell		Senior Vice President and Chief Financial Officer		May 9, 2024
Bradley S. Powell		(Principal Financial and Accounting Officer)
/s/ Robert P. Carlile		Chairman of the Board		May 9, 2024
Robert P. Carlile
/s/ Glenn M. Alger		Director		May 9, 2024
Glenn M. Alger
/s/ James M. DuBois		Director		May 9, 2024
James M. DuBois
/s/ Mark A. Emmert		Director		May 9, 2024
Mark A. Emmert
/s/ Diane H. Gulyas		Director		May 9, 2024
Diane H. Gulyas
/s/ Brandon S. Pedersen		Director		May 9, 2024
Brandon S. Pedersen
/s/ Liane J. Pelletier		Director		May 9, 2024
Liane J. Pelletier
/s/ Olivia D. Polius		Director		May 9, 2024
Olivia D. Polius

 

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EXHIBIT 5.1

May 13, 2024

The Office of the Secretary

Securities and Exchange Commission

100 F Street, N.E.

Washington, D.C. 20549

Re: Expeditors International of Washington, Inc.

Registration Statement on Form S-8

Ladies and Gentlemen:

I am acting as counsel for Expeditors International of Washington, Inc. (the “Company”) in connection with the filing of a Registration Statement on Form S-8 with the Securities and Exchange Commission under the Securities Act of 1933, as amended (the “Securities Act”), relating to up to 4,000,000 shares of common stock, $.01 par value per share (the “Common Shares”), that are reserved for issuance pursuant to the Amended and Restated Expeditors International of Washington, Inc. 2002 Employee Stock Purchase Plan (the “Plan”).

In rendering my opinions set forth below, I have assumed the authenticity of all documents submitted to me as originals, the genuineness of all signatures and the conformity to authentic originals of all documents submitted to me as copies. I have also assumed the legal capacity for all purposes relevant hereto of all natural persons and, with respect to all parties to agreements or instruments relevant hereto other than the Company, that such parties had the requisite power and authority (corporate or otherwise) to execute, deliver and perform such agreements or instruments, that such agreements or instruments have been duly authorized by all requisite action (corporate or otherwise), executed and delivered by such parties and that such agreements or instruments are the valid, binding and enforceable obligations of such parties.

Based on the foregoing, I am of the opinion that the Common Shares have been duly authorized and, upon issuance and delivery in accordance with the terms of the Plan, will be validly issued, fully paid and non-assessable.

My opinions expressed above are limited to the laws of the State of Washington.

I consent to the filing of this opinion as an exhibit to the Registration Statement, and I further consent to the reference to me in the Registration Statement. In giving this consent, I do not admit that I am within the category of persons whose consent is required by Section 7 of the Securities Act.

Very truly yours,

/s/ JEFFREY F. DICKERMAN

Jeffrey F. Dickerman

Senior Vice President, General Counsel & Corporate Secretary

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EXHIBIT 23.1

Consent of Independent Registered Public Accounting Firm

 

 

We consent to the use of our reports dated February 23, 2024, with respect to the consolidated financial statements of Expeditors International of Washington, Inc., and the effectiveness of internal control over financial reporting, incorporated herein by reference.

 

 

s<KPMG LLP>

Seattle, Washington

May 13, 2024

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EXHIBIT 107

FEE TABLES FOR

FORM S-8

 

Calculation of Filing Fee Tables

 

Form S-8

(Form Type)

 

EXPEDITORS INTERNATIONAL OF WASHINGTON, INC.

 

(Exact Name of Registrant as Specified in its Charter)

 

Table 1: Newly Registered Securities

 

Security Type	Security Class Title	Fee Calculation Rule	Amount Registered (1)	Proposed Maximum Offering Price Per Unit	Maximum Aggregate Offering Price	Fee Rate	Amount of Registration Fee
Equity	Common Stock, par value $.01 per share	Rule 457(c) and Rule 457(h)	4,000,000	$116.36 (2)	$465,440,000	$147.60 per $1,000,000	$68,698.94
Total Offering Amounts					$465,440,000		$68,698.94
Total Fee Offsets (3)							—
Net Fee Due							$68,698.94

 

(1) Pursuant to Rule 416(a) of the Securities Act of 1933, as amended (the “Securities Act of 1933”), this registration statement also covers any additional securities that may be offered or issued to prevent dilution resulting from stock splits, stock dividends or similar transactions.

(2) Estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(c) and (h) under the Securities Act on the basis of $116.36 per share, which represents the average of the high and low prices of the Registrant's common stock as reported on the New York Stock Exchange on May 8, 2024.

(3) The Registrant does not have any fee offsets.

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