Form 4: CSX Director Paul Hilal Gifts 10,000 Shares to Charity

CSX Director Paul C. Hilal reported gifting 10,000 shares of common stock to charitable organizations, reducing his direct beneficial ownership.

Summary

• Paul C. Hilal, a Director and Vice Chairman of the Board at CSX Corp, reported a disposition of 10,000 shares of CSX common stock.
• The transaction occurred on December 4, 2025, and was a gift (transaction code 'G') to certain charitable organizations.
• Following this transaction, Mr. Hilal directly beneficially owns 18,284 shares of CSX common stock.
• He also indirectly beneficially owns 1,454,098 shares through various entities, disclaiming beneficial ownership except for any pecuniary interest.
• The transaction was made pursuant to a Rule 10b5-1(c) plan, indicating a pre-arranged sale or disposition plan.

Sentiment

Score: 6

Explanation: A neutral to slightly positive sentiment. The transaction is a charitable gift, which is generally viewed favorably, and it was pre-planned. While it reduces direct insider ownership, the overall holding remains substantial, and it's not a sale for personal gain.

Positives

• The transaction was a charitable contribution, which can be viewed positively from a corporate social responsibility perspective.
• The transaction was pre-planned under a Rule 10b5-1(c) plan, indicating a structured and transparent approach to share disposition.

Negatives

• A reduction in direct beneficial ownership by a director, even for charitable purposes, could be interpreted as a slight decrease in insider alignment, though the overall holding remains substantial.

Future Outlook

N/A

Industry Context

N/A

Corporate Governance

Stakeholder Impact

• Shareholders: Slight reduction in direct insider ownership, but overall insider alignment remains strong due to substantial indirect holdings. The charitable nature of the gift may be viewed positively.

Key Dates

Recommendation

This Form 4 reports a charitable gift of 10,000 shares by a director, Paul C. Hilal, under a Rule 10b5-1 plan. While it represents a reduction in direct beneficial ownership, the amount is relatively small compared to his total holdings (over 1.4 million shares indirectly), and the nature of the transaction (a gift, not a sale for profit) does not suggest a negative outlook on the company. The pre-planned nature further reduces any speculative implications. Therefore, this filing alone does not warrant a change in investment recommendation; a 'hold' stance is maintained, pending further operational or strategic updates from CSX.

Keywords

CSX, Paul Hilal, Form 4, Insider Transaction, Director, Stock Gift, Charitable Contribution, Beneficial Ownership, Rule 10b5-1