Alan H. Shaw - Mar 1, 2023 Form 4 Insider Report for NORFOLK SOUTHERN CORP (NSC)

Role: President & CEO, Director
Signature: Denise W. Hutson via P.O.A. for Alan H. Shaw
Stock symbol: NSC
Transactions as of: Mar 1, 2023
Transactions value $: -$448,320
Form type: 4
Date filed: 3/3/2023, 03:40 PM
Previous filing: Jan 31, 2023
Next filing: May 2, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NSC	Common Stock	Sale	-$448K	-2K	-5.75%	$224.16	32.8K	Mar 1, 2023	Direct	F1
holding	NSC	Common Stock						1.82K	Mar 1, 2023	By 401(k) Plan	F2

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

Explanation of Responses:

Id	Content
F1	Shares sold pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 12, 2022. The full proceeds received by the Reporting Person from the sale of these shares will be donated to fund college and vocational school scholarships to students in East Palestine, Ohio.
F2	Represents the approximate number of shares of Common Stock estimated -- on the basis of the unit accounting system used by the Plan Administrator -- as of March 1, 2023, to have been credited to the reporting person's account in the Norfolk Southern Corporation Thrift and Investment Plan (TIP), a trusted 401(k) plan. In accordance with TIP's terms applicable to all participants, acquisitions were made at various times and at various prices.

Content

Shares sold pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 12, 2022. The full proceeds received by the Reporting Person from the sale of these shares will be donated to fund college and vocational school scholarships to students in East Palestine, Ohio.

Represents the approximate number of shares of Common Stock estimated -- on the basis of the unit accounting system used by the Plan Administrator -- as of March 1, 2023, to have been credited to the reporting person's account in the Norfolk Southern Corporation Thrift and Investment Plan (TIP), a trusted 401(k) plan. In accordance with TIP's terms applicable to all participants, acquisitions were made at various times and at various prices.