Form 4: CSX CFO Kevin Boone Reports Stock Transactions

CSX EVP & CFO Kevin Boone reported the acquisition of shares under a long-term incentive plan and the disposition of shares for tax withholding, alongside an update to his total beneficial ownership.

Summary

• EVP & CFO Kevin S. Boone acquired 3,113 shares of CSX Common Stock on January 23, 2026, as part of the 2023-2025 Long-Term Incentive Plan.
• Concurrently, 1,390 shares were disposed of on January 23, 2026, at a price of $36.64 per share, to satisfy tax obligations.
• Following these transactions, Boone's direct beneficial ownership stands at 200,378 shares.
• The filing also corrected previously misreported share counts from Forms 4 filed on February 12, 2024, and February 20, 2024.
• Indirect holdings include 1,754 shares in the CSX Corporation 401(k) Plan and 1,500 shares in a Spouse's IRA.
• The total beneficial ownership prior to the disposition was updated to include 95 shares acquired under the CSX Employee Stock Purchase Plan on December 31, 2025.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive due to the executive's acquisition of shares under an incentive plan, aligning interests with shareholders. The disposition for tax purposes is neutral, and the correction of prior reporting errors is a compliance matter.

Positives

• EVP & CFO Kevin S. Boone was awarded 3,113 shares of CSX Common Stock under the 2023-2025 Long-Term Incentive Plan, indicating continued alignment of management interests with shareholder value.
• The acquisition of 95 shares through the CSX Employee Stock Purchase Plan on December 31, 2025, further demonstrates management's investment in the company.

Negatives

• The disposition of 1,390 shares at $36.64 per share was solely to satisfy tax obligations related to the share award, which is a standard practice and not indicative of a negative outlook.
• Previous Forms 4 filed on February 12, 2024, and February 20, 2024, contained incorrectly reported share counts, requiring an update in this filing.

Future Outlook

NA

Management Comments

• Shares were awarded pursuant to the 2023-2025 Long-Term Incentive Plan.
• The total number of shares beneficially owned is being updated to reflect that certain shares were mistakenly incorrectly reported on the Reporting Person's Forms 4 filed on February 12, 2024 and February 20, 2024.
• Withholding of stock was to satisfy tax obligation.

Industry Context

NA

Stakeholder Impact

• Shareholders: Increased alignment of executive interests with shareholder value through equity awards.
• Employees: The mention of the Employee Stock Purchase Plan and 401(k) plan highlights broader employee equity participation.

Key Dates

Recommendation

This Form 4 filing details routine insider transactions related to executive compensation and tax obligations, along with a correction of prior reporting. It does not provide new fundamental information that would alter an investment thesis for CSX, thus a 'hold' recommendation remains appropriate based solely on this filing.

Keywords

CSX, Form 4, insider trading, beneficial ownership, stock transactions, executive compensation, Kevin Boone