ANDERSON RICHARD H 4

What Happened
Richard H. Anderson, a director of Norfolk Southern Corporation (NSC), was credited with 233.45 deferred stock units on 2026-03-31 as an award/acquisition under the company’s directors’ deferred fee plan. The units were recorded at $287.00 each, representing a total economic value of approximately $67,000. This was an award (transaction code A), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-03-31; Form 4 filed 2026-04-02 (appears timely).
• Award: 233.45 deferred stock units at $287.00 per unit = ~$67,000.
• Shares owned after transaction: Not disclosed in this filing.
• Footnote: The units are deferred stock units under the Norfolk Southern Directors' Deferred Fee Plan and are settled in cash (not common stock) upon the director’s retirement or at other elected times.
• Transaction type: Derivative award (deferred compensation), code A.

Context
Deferred stock units granted to directors are typically part of routine compensation (fee deferral) and will be paid in cash later rather than adding voting shares. Such awards are different from outright purchases (which can signal bullish insider sentiment) and from sales; they generally reflect company compensation practices rather than an immediate trading decision.