CHAND M RIZWAN 4

What Happened

• Chand M. Rizwan, Chief Human Resources Officer (CHRO) of CSX Corporation (CSX), received equity awards on February 26, 2026: 11,724 restricted stock units (RSUs) and 58,448 derivative awards (stock options), each reported with $0.00 acquisition price. These are grants (transaction code A), not open-market purchases or sales.

Key Details

• Transaction date: 2026-02-26; Form 4 filed: 2026-03-02 (timely; filed within the required two business days).
• Awards reported: 11,724 RSUs (F1) and 58,448 option-type derivative awards (F2).
• Reported acquisition price for both entries: $0.00 (typical for grant reporting on Form 4; not a cash purchase).
• Vesting: RSUs vest in three equal installments on Feb 26 of 2027, 2028 and 2029 (F1). The options vest in three equal installments on Feb 26 of 2027, 2028 and 2029 (F3).
• Shares owned after the transaction: not provided in the supplied filing excerpt.
• Total potential shares if fully vested/exercised: 70,172 (11,724 RSUs + 58,448 options).

Context

• These entries are awards under the CSX Corporation 2026–2028 Long-Term Incentive Plan and are typical executive compensation — they do not reflect an immediate purchase or sale of stock. The options are derivative awards that will become exercisable only as they vest; the filing does not indicate any immediate cashless exercise or sale. Such grants are routine for executive retention and incentive purposes and should be interpreted as compensation, not a direct market bet by the insider.