Form 4: Norfolk Southern Director Acquires Deferred Stock Units Through Dividend Reinvestment

Director John C. Huffard Jr. acquired deferred stock units in Norfolk Southern Corp through a dividend reinvestment within the Directors' Deferred Fee Plan.

Summary

• On December 31, 2024, John C. Huffard Jr., a director of Norfolk Southern Corp, acquired 204.5164 deferred stock units through the Norfolk Southern Corporation Directors' Deferred Fee Plan.
• The acquisition was a result of a deemed reinvestment of dividends on deferred stock units already held under the plan.
• The price per unit was $234.7, based on the closing market value of Norfolk Southern's common stock on the dividend payment date.
• Following the transaction, Huffard directly owns 1,929.8446 deferred stock units.
• These units will be settled in cash upon the reporting person's retirement or at such other time as may be elected under the terms of the plan.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. It reflects a routine transaction related to director compensation, indicating continued investment in the company.

Positives

• The acquisition of deferred stock units through dividend reinvestment demonstrates the director's continued investment in the company.

Future Outlook

The deferred stock units will be settled in cash upon the reporting person's retirement or at such other time as may be elected under the terms of the plan.

Industry Context

This filing reflects routine transactions related to director compensation and dividend reinvestment plans, which are common practices in publicly traded companies like Norfolk Southern.

Comparison to Industry Standards

• Director compensation packages often include deferred stock units as a means of aligning the interests of directors with those of shareholders.
• Dividend reinvestment plans are a standard feature of many equity compensation programs, allowing participants to increase their holdings over time.
• Comparable companies in the transportation sector, such as Union Pacific (UNP) and CSX Corporation (CSX), also utilize similar compensation structures for their directors.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders, as it is a routine part of director compensation.
• It signals continued alignment of the director's interests with those of the shareholders.

Key Dates