Alan H. Shaw - 01 Mar 2023 Form 4 Insider Report for NORFOLK SOUTHERN CORP (NSC)

Role: President & CEO, Director
Signature: Denise W. Hutson via P.O.A. for Alan H. Shaw
Issuer symbol: NSC
Transactions as of: 01 Mar 2023
Net transactions value: -$448,320
Form type: 4
Filing time: 03 Mar 2023, 15:40:37 UTC
Previous filing: 31 Jan 2023
Next filing: 02 May 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NSC	Common Stock	Sale	$448,320	-2,000	-5.8%	$224.16	32,776	01 Mar 2023	Direct	F1
holding	NSC	Common Stock						1,823	01 Mar 2023	By 401(k) Plan	F2

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

Explanation of Responses:

Id	Content
F1	Shares sold pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 12, 2022. The full proceeds received by the Reporting Person from the sale of these shares will be donated to fund college and vocational school scholarships to students in East Palestine, Ohio.
F2	Represents the approximate number of shares of Common Stock estimated -- on the basis of the unit accounting system used by the Plan Administrator -- as of March 1, 2023, to have been credited to the reporting person's account in the Norfolk Southern Corporation Thrift and Investment Plan (TIP), a trusted 401(k) plan. In accordance with TIP's terms applicable to all participants, acquisitions were made at various times and at various prices.

Content

Shares sold pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 12, 2022. The full proceeds received by the Reporting Person from the sale of these shares will be donated to fund college and vocational school scholarships to students in East Palestine, Ohio.

Represents the approximate number of shares of Common Stock estimated -- on the basis of the unit accounting system used by the Plan Administrator -- as of March 1, 2023, to have been credited to the reporting person's account in the Norfolk Southern Corporation Thrift and Investment Plan (TIP), a trusted 401(k) plan. In accordance with TIP's terms applicable to all participants, acquisitions were made at various times and at various prices.