Mark R. George - Sep 13, 2025 Form 4 Insider Report for NORFOLK SOUTHERN CORP (NSC)

Role: President & CEO, Director
Signature: J. Jeremy Ballard via P.O.A. for Mark R. George
Stock symbol: NSC
Transactions as of: Sep 13, 2025
Transactions value $: -$285,720
Form type: 4
Date filed: 9/16/2025, 04:08 PM
Previous filing: Jun 10, 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
George Mark R	President & CEO, Director	650 W PEACHTREE ST NW, ATLANTA	J. Jeremy Ballard via P.O.A. for Mark R. George	2025-09-16	0001793198

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NSC	Common Stock	Options Exercise	$0	+2.65K	+16.13%	$0.00	19.1K	Sep 13, 2025	Direct	F1
transaction	NSC	Common Stock	Tax liability	-$286K	-1.04K	-5.44%	$275.00	18.1K	Sep 13, 2025	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	Restricted Stock Units	Options Exercise		-2.65K	-12.6%		18.4K	Sep 13, 2025	Common Stock	2.65K		Direct	F1

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

Explanation of Responses:

Id	Content
F1	Reports the number of Restricted Stock Units, exempt under Section 16(b), granted and credited to the account of the reporting person on September 13, 2024, under the terms of the Norfolk Southern Corporation Long-Term Incentive Plan. Each Unit is the economic equivalent of one share of Common Stock. These Units ultimately will be settled in Common Stock. This distribution represents the first settlement of three installments.

Content

Reports the number of Restricted Stock Units, exempt under Section 16(b), granted and credited to the account of the reporting person on September 13, 2024, under the terms of the Norfolk Southern Corporation Long-Term Incentive Plan. Each Unit is the economic equivalent of one share of Common Stock. These Units ultimately will be settled in Common Stock. This distribution represents the first settlement of three installments.