Clyde H. Allison Jr. - 11 May 2021 Form 4 Insider Report for NORFOLK SOUTHERN CORP (NSC)

Role: Vice President and Controller
Signature: Denise W. Hutson via P.O.A. for Clyde H. Allison Jr.
Issuer symbol: NSC
Transactions as of: 11 May 2021
Net transactions value: -$788,692
Form type: 4
Filing time: 12 May 2021, 13:21:48 UTC
Next filing: 29 Oct 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NSC	Common Stock	Options Exercise	$278,018	+3,700	+8.8%	$75.14	45,632	11 May 2021	Direct	F1
transaction	NSC	Common Stock	Sale	$1,066,710	-3,700	-8.1%	$288.30	41,932	11 May 2021	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	NSC	Option (right to buy, granted 2012)	Options Exercise		-3,700	-100%		0	11 May 2021	Common Stock	3,700	$75.14	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Reflects exercise and resulting cancellation of stock option, in a single transaction, exempt from Section 16(b). The stock option was granted under the Long-Term Incentive Plan (a Rule 16b-3 plan).