James A. Squires - 18 May 2021 Form 4 Insider Report for NORFOLK SOUTHERN CORP (NSC)

Role
Chairman, President and CEO, Director
Signature
Denise W. Hutson via P.O.A. for James A. Squires
Issuer symbol
NSC
Transactions as of
18 May 2021
Net transactions value
-$13,261,633
Form type
4
Filing time
20 May 2021, 16:05:01 UTC
Next filing
25 May 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 $6,493,200 +70,000 +139% $92.76 120,211 18 May 2021 Direct
transaction NSC Common Stock Sale $19,754,833 -70,000 -58% $282.21 50,211 18 May 2021 Direct
holding NSC Common Stock 161 18 May 2021 By 401(k) Plan F1
holding NSC Common Stock 50,214 18 May 2021 By Spouse
holding NSC Common Stock 21,637 18 May 2021 By the E.H. Squires Irrevocable Trust F2
holding NSC Common Stock 21,637 18 May 2021 By the M.O. Squires Irrevocable Trust F2

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 2015) Options Exercise -70,000 -53% 62,880 18 May 2021 Common Stock 70,000 $92.76 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the approximate number of whole shares of Common Stock estimated -- on the basis of the unit accounting system used by the Plan Administrator -- as of May, 18, 2021, to have been credited to the reporting person's account in the Norfolk Southern Corporation Thrift and Investment Plan (TIP), a trusteed 401(k) plan. In accordance with TIP's terms applicable to all participants, acquisitions were made at various times and at various prices.
F2 Represents shares held by irrevocable trust for the benefit of the reporting person's child. The reporting person's spouse is the trustee of the trust. The reporting person has no pecuniary interest or investment control over these shares.
F3 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).