Alan H. Shaw - Jan 30, 2024 Form 4 Insider Report for NORFOLK SOUTHERN CORP (NSC)

Signature
Denise W. Hutson via P.O.A. for Alan H. Shaw
Stock symbol
NSC
Transactions as of
Jan 30, 2024
Transactions value $
-$431,103
Form type
4
Date filed
2/1/2024, 09:35 PM
Previous filing
Jan 30, 2024
Next filing
Jun 12, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NSC Common Stock Award $0 +3.72K +11.24% $0.00 36.8K Jan 30, 2024 Direct F1, F2
transaction NSC Common Stock Options Exercise $0 +545 +1.48% $0.00 37.3K Jan 30, 2024 Direct F3
transaction NSC Common Stock Tax liability -$55.1K -233 -0.62% $236.48 37.1K Jan 30, 2024 Direct
transaction NSC Common Stock Tax liability -$376K -1.59K -4.29% $236.48 35.5K Jan 30, 2024 Direct
holding NSC Common Stock 1.86K Jan 30, 2024 By 401(k) Plan F4

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 2024) Award +31.4K 31.4K Jan 30, 2024 Common Stock 31.4K $236.85 Direct F5
transaction NSC Restricted Stock Units Award +6.34K +65.26% 16.1K Jan 30, 2024 Common Stock 6.34K Direct F6
transaction NSC Restricted Stock Units Options Exercise -545 -3.39% 15.5K Jan 30, 2024 Common Stock 545 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares earned by the reporting person under the formula-based performance share feature of the Corporation's Long-Term Incentive plan (a Rule 16b-3 plan).
F2 The reporting person's previous Form 4 filed on January 30, 2024 overstated the total amount of shares beneficially owned in column 5 by 93 shares due to an administrative error. The amount reported in colunn 5 for this transaction has been updated to reflect this error.
F3 Reports the number of Restricted Stock Units, exempt under Section 16(b), granted and credited to the account of the reporting person on January 30, 2020, under the terms of the Norfolk Southern Corporation Long-Term Incentive Plan. Each Unit is the economic equivalent of one share of Common Stock. These Units ultimately will be settled in Common Stock, vesting ratably in four annual installments beginning on the first anniversary of the grant date. This distribution represents the fourth of four installments.
F4 Represents the approximate number of whole shares of Common Stock estimated -- on the basis of the unit accounting system used by the Plan Administrator -- as of January 30, 2024, 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.
F5 Reports the grant to the reporting person of an option to purchase shares of common stock under the Norfolk Southern Corporation Long-Term Incentive Plan (a 16b-3 plan). These options will vest ratably in four annual installments beginning on the first anniversary of the grant date.
F6 Reports the number of Restricted Stock Units, exempt under Section 16(b), granted and credited to the account of the reporting person on January 30, 2024, under the terms of the Norfolk Southern Corporation Long-Term Incentive Plan. Each Unit is the economic equivalent of one share of Common Stock. These Units ultimately will be settled in Common Stock, vesting ratably in four annual installments beginning on the first anniversary of the grant date.