Michael D. Lockhart - Nov 20, 2023 Form 4 Insider Report for NORFOLK SOUTHERN CORP (NSC)

Role: Director
Signature: Denise W. Hutson via P.O.A. for Michael D. Lockhart
Stock symbol: NSC
Transactions as of: Nov 20, 2023
Transactions value $: $59,862
Form type: 4
Date filed: 11/22/2023, 12:37 PM
Previous filing: Aug 22, 2023
Next filing: Jan 30, 2024

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	Deferred Stock Units - Dir. Def. Fee Plan	Award	$20.7K	+97.4	+0.64%	$212.12	15.4K	Nov 20, 2023	Common Stock	97.4		Direct	F1
transaction	NSC	Restricted Stock Units	Award	$39.2K	+186	+0.62%	$210.58	30K	Nov 20, 2023	Common Stock	186		Direct	F2

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

Explanation of Responses:

Id	Content
F1	Reports the number of deferred stock units credited to the reporting person's account in the Norfolk Southern Corporation Directors' Deferred Fee Plan in the form of a deemed reinvestment of dividends on deferred stock units held under the plan, calculated on the basis of the closing market value of the company's common stock on the dividend payment date. These units ultimately will be satisfied in cash, not in shares of common stock, upon the reporting person's retirement or at such other time as may be elected under the terms of the plan.
F2	Reports the number of restricted stock units credited to the reporting person's account in the Norfolk Southern Corporation Long-Term Incentive Plan in the form of dividend equivalent payments on restricted stock units held under the plan, calculated on the basis of the market value of the corporation's common stock on the dividend payment date. These units ultimately will be satisfied in common stock.

Content

Reports the number of deferred stock units credited to the reporting person's account in the Norfolk Southern Corporation Directors' Deferred Fee Plan in the form of a deemed reinvestment of dividends on deferred stock units held under the plan, calculated on the basis of the closing market value of the company's common stock on the dividend payment date. These units ultimately will be satisfied in cash, not in shares of common stock, upon the reporting person's retirement or at such other time as may be elected under the terms of the plan.

Reports the number of restricted stock units credited to the reporting person's account in the Norfolk Southern Corporation Long-Term Incentive Plan in the form of dividend equivalent payments on restricted stock units held under the plan, calculated on the basis of the market value of the corporation's common stock on the dividend payment date. These units ultimately will be satisfied in common stock.