Form 4: CSX Director Ann Begeman Boosts Indirect Shareholdings

CSX Corporation Director Ann D. Begeman reported an acquisition of 4,455 shares of common stock through a deferred compensation plan.

Summary

• Ann D. Begeman, a Director of CSX Corporation, acquired 4,455 shares of CSX Common Stock.
• The acquisition occurred on February 26, 2026, and was an exempt payment of director's fees and/or annual retainer.
• These shares were received in the form of CSX Common Stock pursuant to the 2019 CSX Stock and Incentive Award Plan.
• The shares are held indirectly through the CSX Corporation Directors Deferred Compensation Plan and are payable after Begeman ceases to be a director or according to her deferral election.
• Following this transaction, Begeman's beneficial ownership includes 4,455 shares indirectly through the deferred compensation plan, 5,694 shares held directly, and 1,594 shares indirectly through a Self-Employed 401(k) Plan, totaling 11,743 shares.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a routine, slightly positive disclosure, indicating a director's continued equity accumulation as part of compensation, which aligns interests with shareholders.

Positives

• Director Ann D. Begeman increased her indirect ownership in CSX Corporation by 4,455 shares, aligning her interests further with shareholders.
• The acquisition is part of an exempt payment of director's fees, indicating a standard and expected compensation practice.

Future Outlook

The filing does not contain any forward-looking statements or guidance.

Industry Context

StockSavvy.ai notes that director stock acquisitions, especially as part of compensation, are common across industries, including the transportation and railroad sector. Such transactions typically reflect standard corporate governance practices for aligning director incentives with shareholder interests.

Comparison to Industry Standards

• Director compensation often includes equity components, a practice widely adopted by publicly traded companies like Union Pacific (UNP) and Norfolk Southern (NSC) in the railroad industry, to foster long-term commitment and performance alignment.
• The acquisition of shares as part of director fees, rather than a cash purchase, is a standard method for non-employee directors to build equity stakes.

Corporate Governance

Related Party Transactions

• The acquisition of 4,455 shares of CSX Common Stock by Director Ann D. Begeman as an exempt payment of director's fees constitutes a related party transaction, which is a standard and disclosed form of compensation.

Stakeholder Impact

• Shareholders: The acquisition of shares by a director, even as compensation, generally signals alignment of interests between management and shareholders, potentially fostering confidence.

Next Steps

• The shares held in the CSX Directors Deferred Compensation Plan are payable after Ann D. Begeman ceases to be a director or otherwise pursuant to her applicable deferral election.

Key Dates

Recommendation

This Form 4 filing details a routine, non-cash acquisition of shares by a director as part of their compensation. While it indicates continued alignment of interests, it does not present new information that would fundamentally alter the investment thesis for CSX Corporation, warranting a 'hold' recommendation based solely on this disclosure.

Keywords

CSX Corporation, CSX, Ann D. Begeman, Form 4, Insider Trading, Director Compensation, Stock Acquisition, Deferred Compensation, Beneficial Ownership, Railroad, Transportation