ANGEL STEPHEN F 4

What Happened

• Stephen F. Angel, President & CEO and a director of CSX Corporation (CSX), was granted 187 units of phantom stock (reported as a derivative award) on July 1, 2026. The unit price reported for the award was $48.33, giving a notional value of approximately $9,038. This was an award/grant (code A), not an open-market purchase or sale.

Key Details

• Transaction date: July 1, 2026
• Transaction type: Grant / award of phantom stock (Derivative; code A)
• Units granted: 187 phantom stock units @ $48.33 per unit
• Total notional value: ~$9,038
• Shares/units after the transaction: Not specified in the provided filing excerpt
• Footnotes:
  • F1: Each phantom stock unit equals the economic equivalent of one share and is payable in cash per the reporting person’s distribution election.
  • F2: The 187 units include 4.82 units credited for a dividend payment on June 15, 2026 at $47.39 per share.
  • F3: Award administered by the Trustee of the CSX Corporation Executive Deferred Compensation Plan.
• Filing date: July 6, 2026 (filed five days after the transaction date); this appears later than the typical 2-business-day Form 4 deadline — check the full filing for any timeliness notation.

Context

• Phantom stock is a deferred, cash-settled award that mirrors the economic value of company shares; it does not immediately increase the insider’s voting shares on a one-for-one basis and is payable per the executive’s distribution election. Such awards are common as long-term compensation and do not by themselves indicate immediate buying or selling sentiment.