Form 4: CSX Officer Reports Stock Award, Tax Withholding

Angela C. Williams, CSX VP & Chief Accounting Officer, reported the acquisition of 336 shares under a long-term incentive plan and the disposition of 150 shares for tax obligations.

Summary

• Angela C. Williams, CSX's VP & Chief Accounting Officer, reported transactions involving CSX common stock.
• On January 23, 2026, Williams acquired 336 shares of common stock at a price of $0, awarded under the 2023-2025 Long-Term Incentive Plan.
• On the same date, Williams disposed of 150 shares of common stock at a price of $36.64 to satisfy tax obligations.
• Following these transactions, Williams directly owns 39,254 shares and indirectly owns 9,407 shares through the CSX Corporation 401(k) Plan.
• The total number of beneficially owned shares has been updated to correct previous reporting errors on Forms 4 filed on February 12, 2024, and February 20, 2024.
• Indirect ownership also includes shares acquired under the CSX Employee Stock Purchase Plan (ESPP) on June 30, 2025 (70 shares) and December 30, 2025 (68 shares).

Sentiment

Score: 6

Explanation: The filing reports a routine insider transaction involving a stock award and tax-related disposition. The correction of previous reporting is a minor administrative detail. The overall sentiment is neutral to slightly positive due to the stock award, reflecting ongoing executive compensation and alignment.

Positives

• Acquisition of 336 shares of common stock at no cost, awarded under the 2023-2025 Long-Term Incentive Plan, indicating continued executive compensation and alignment with shareholder interests.
• Acquisition of 138 shares (70 + 68) through the Employee Stock Purchase Plan (ESPP) in 2025, demonstrating ongoing employee investment in the company.

Negatives

• Disposition of 150 shares of common stock to satisfy tax obligations, which reduces direct beneficial ownership.
• Previous incorrect reporting on Forms 4 filed on February 12, 2024, and February 20, 2024, required an update to the total number of beneficially owned shares.

Future Outlook

NA

Industry Context

This filing reflects routine insider transaction reporting for a senior executive at a major railroad company. Such transactions are common as part of executive compensation plans and tax management strategies within the transportation and logistics sector.

Stakeholder Impact

• Shareholders: The stock award aligns executive interests with shareholder value creation. The tax-related disposition is a routine event and has minimal impact on overall share structure.
• Employees: The mention of the Employee Stock Purchase Plan (ESPP) highlights ongoing opportunities for employees to invest in the company.

Key Dates

Recommendation

This Form 4 filing details routine insider transactions, including a stock award and tax-related share disposition, for a senior executive. While the stock award is a positive for executive alignment, the overall impact on the company's fundamentals or strategic direction is negligible. The correction of prior reporting is an administrative matter. Therefore, this filing alone does not provide sufficient new information to warrant a change from a 'hold' recommendation, assuming existing investment theses remain intact.

Keywords

CSX, Angela C. Williams, Insider Trading, Form 4, Stock Award, Long-Term Incentive Plan, Employee Stock Purchase Plan, Tax Withholding, Beneficial Ownership, Executive Compensation