Clyde H. Allison Jr - May 11, 2021 Form 4 Insider Report for NORFOLK SOUTHERN CORP (NSC)

Role: Vice President and Controller
Signature: Denise W. Hutson via P.O.A. for Clyde H. Allison Jr.
Stock symbol: NSC
Transactions as of: May 11, 2021
Transactions value $: -$788,692
Form type: 4
Date filed: 5/12/2021, 01:21 PM
Next filing: Oct 29, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NSC	Common Stock	Options Exercise	$278K	+3.7K	+8.82%	$75.14	45.6K	May 11, 2021	Direct	F1
transaction	NSC	Common Stock	Sale	-$1.07M	-3.7K	-8.11%	$288.30	41.9K	May 11, 2021	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	NSC	Option (right to buy, granted 2012)	Options Exercise		-3.7K	-100%		0	May 11, 2021	Common Stock	3.7K	$75.14	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Reflects exercise and resulting cancellation of stock option, in a single transaction, exempt from Section 16(b). The stock option was granted under the Long-Term Incentive Plan (a Rule 16b-3 plan).