Ryerkerk Lori 4

What Happened
Lori Ryerkerk, a director of Norfolk Southern Corporation (NSC), was granted 622 restricted stock units (RSUs) on January 30, 2026. The award is a derivative grant (code A) — no cash changed hands and no per‑share price is reported. Each RSU represents the economic equivalent of one share of NSC common stock and will be settled in stock upon vesting.

Key Details

• Transaction date: January 30, 2026; Form 4 filed February 3, 2026 (timely within the two business‑day reporting window).
• Grant: 622 Restricted Stock Units (derivative award); price/value: N/A on the filing.
• Vesting: RSUs vest in full on the first anniversary of the grant date (January 30, 2027).
• Footnote: Units are exempt under Section 16(b) and will be settled in Norfolk Southern common stock.
• Shares owned after transaction: not specified on this Form 4.
• Filing status: Not late (filed within required reporting period).

Context
RSU grants are a form of compensation and do not necessarily signal the director buying or selling stock. These units convert to shares only upon vesting (one-year cliff), so there was no immediate acquisition of tradable shares. Because the award is exempt under Section 16(b), it is not subject to short‑swing profit recapture rules.