ANDERSON RICHARD H 4

What Happened
Richard H. Anderson, a director of Norfolk Southern Corporation (NSC), was credited with two derivative awards on 2026-05-20: 6.522 deferred stock units at $311.84 each (valued at $2,034) and 10.141 restricted stock unit dividend equivalents at $315.38 each (valued at $3,198). Both items are reported as grant/award acquisitions (transaction code A) and are compensation-related credits, not open-market purchases or sales.

Key Details

• Transaction date: 2026-05-20. Filing date: 2026-05-22 (timely filing).
• Awards reported:
  • 6.522 units @ $311.84 = $2,034 (footnote F1: deferred stock units — deemed dividend reinvestment; cash-settled upon retirement or election).
  • 10.141 units @ $315.38 = $3,198 (footnote F2: restricted stock unit dividend equivalents — will be settled in common stock).
• Combined reported value ≈ $5,232.
• Shares owned after the transaction: not disclosed in the Form 4 provided.
• Transaction code: A = Award/Grant (derivative units). No indication of a 10b5-1 plan or tax-withholding sale in this filing.

Context
These credits reflect routine director compensation (deferred fees and dividend-equivalent credits on RSUs). Deferred stock units under F1 are paid in cash when vesting/retired; F2 units convert to common stock when settled. Because these are awards rather than purchases or sales, they should be viewed as compensation events rather than a direct bullish or bearish insider signal.