Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.
Each company listed discloses NSC in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named NSC in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Mark George | $1,100,000 | $0 | $9,199,733 | $2,300,010 | $2,932,875 | $511,140 | $201,292 | $16,245,050 |
| President & Chief Executive Officer | ||||||||
| Claude Elkins | 675,000 | 0 | 2,399,989 | 599,957 | 1,199,813 | 2,009,988 | 31,246 | 6,915,992 |
| Executive Vice President & Chief Commercial Officer | ||||||||
| John Orr | 750,000 | 0 | 2,479,959 | 619,956 | 1,333,125 | 363,132 | 58,430 | 5,604,601 |
| Executive Vice President & Chief Operating Officer | ||||||||
| Jason Zampi | 650,000 | 0 | 2,080,072 | 519,963 | 1,155,375 | 448,044 | 12,250 | 4,865,704 |
| Executive Vice President & Chief Financial Officer | ||||||||
| Anil Bhatt | 650,000 | 0 | 1,980,091 | 494,986 | 1,155,375 | 88,740 | 13,092 | 4,382,284 |
| Executive Vice President & Chief Information & Digital Officer | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Mark George | $16,245,050 | $8,985,660 | $3,366,246 | +7,259,390 |
| Claude Elkins | 6,915,992 | 3,761,802 | 3,959,635 | +3,154,190 |
| John Orr | 5,604,601 | 11,385,816 | — | −5,781,215 |
| Jason Zampi | 4,865,704 | 1,950,933 | — | +2,914,771 |
| Anil Bhatt | 4,382,284 | 4,986,100 | — | −603,816 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.
| Insider | Role | Transaction date | Code | Shares | Price | Value | Security | Source |
|---|---|---|---|---|---|---|---|---|
| Richard H. Anderson | Director | 2026-03-31 | A | 233.45 | $287 | $67,000 | Derivative, Class A Common | Form 4 ↗ |
| John C. Huffard, Jr | Director | 2026-03-31 | A | 184.67 | 287 | 53,000 | Derivative, Class A Common | Form 4 ↗ |
| John Orr | EVP & Chief Operating Officer | 2026-04-26 | A | 8,319 | 0 | 0 | Common | Form 4 ↗ |
| John Orr | EVP & Chief Operating Officer | 2026-04-26 | D | 8,319 | — | — | Derivative, Class A Common | Form 4 ↗ |
| John Orr | EVP & Chief Operating Officer | 2026-04-26 | D | 3,247 | 321 | 1,041,654 | Common | Form 4 ↗ |
| Dividend-equivalent accruals | 2026-05-20 | — | 123 | — | ~38,837 | 10 insiders, 12 accrual rows | ||
| Marcela E. Donadio | Director | 2026-05-20 | A | 37.24 | 315 | 11,745 | Derivative, Class A Common | Form 4 ↗ |
| Richard H. Anderson | Director | 2026-06-30 | A | 251.2 | 315 | 79,026 | Derivative, Class A Common | Form 4 ↗ |
| John C. Huffard, Jr | Director | 2026-06-30 | A | 168.47 | 315 | 53,000 | Derivative, Class A Common | Form 4 ↗ |
| Brian Barr | Chief Operating Officer | 2026-07-27 | A | 1,456 | — | — | Derivative, Class A Common | Form 4 ↗ |
Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.
| Insider | Role | Transaction date | Code | Shares | Price | Value | Security | Source |
|---|---|---|---|---|---|---|---|---|
| Richard H. Anderson | Director | 2026-03-31 | A | 233.45 | $287 | $67,000 | Derivative, Class A Common | Form 4 ↗ |
| John C. Huffard, Jr | Director | 2026-03-31 | A | 184.67 | 287 | 53,000 | Derivative, Class A Common | Form 4 ↗ |
| John Orr | EVP & Chief Operating Officer | 2026-04-26 | A | 8,319 | 0 | 0 | Common | Form 4 ↗ |
| John Orr | EVP & Chief Operating Officer | 2026-04-26 | D | 8,319 | — | — | Derivative, Class A Common | Form 4 ↗ |
| John Orr | EVP & Chief Operating Officer | 2026-04-26 | D | 3,247 | 321 | 1,041,654 | Common | Form 4 ↗ |
| Christopher T. Jones | Director | 2026-05-20 | A | 22.48 | 315 | 7,090 | Derivative, Class A Common | Form 4 ↗ |
| Sameh Fahmy | Director | 2026-05-20 | A | 7.79 | 315 | 2,455 | Derivative, Class A Common | Form 4 ↗ |
| William Clyburn, Jr | Director | 2026-05-20 | A | 7.79 | 315 | 2,455 | Derivative, Class A Common | Form 4 ↗ |
| Richard H. Anderson | Director | 2026-05-20 | A | 6.52 | 312 | 2,034 | Derivative, Class A Common | Form 4 ↗ |
| Richard H. Anderson | Director | 2026-05-20 | A | 10.14 | 315 | 3,198 | Derivative, Class A Common | Form 4 ↗ |
| John C. Huffard, Jr | Director | 2026-05-20 | A | 12.74 | 312 | 3,971 | Derivative, Class A Common | Form 4 ↗ |
| Gilbert H. Lamphere | Director | 2026-05-20 | A | 2.67 | 315 | 843 | Derivative, Class A Common | Form 4 ↗ |
| John C. Huffard, Jr | Director | 2026-05-20 | A | 22.48 | 315 | 7,090 | Derivative, Class A Common | Form 4 ↗ |
| Lori J. Ryerkerk | Director | 2026-05-20 | A | 3.07 | 315 | 969 | Derivative, Class A Common | Form 4 ↗ |
| Marcela E. Donadio | Director | 2026-05-20 | A | 37.24 | 315 | 11,745 | Derivative, Class A Common | Form 4 ↗ |
| Mary Kathryn Heidi Heitkamp | Director | 2026-05-20 | A | 7.79 | 315 | 2,455 | Derivative, Class A Common | Form 4 ↗ |
| Francesca A. DeBiase | Director | 2026-05-20 | A | 9.15 | 315 | 2,887 | Derivative, Class A Common | Form 4 ↗ |
| Philip S. Davidson | Director | 2026-05-20 | A | 10.74 | 315 | 3,388 | Derivative, Class A Common | Form 4 ↗ |
| Richard H. Anderson | Director | 2026-06-30 | A | 251.2 | 315 | 79,026 | Derivative, Class A Common | Form 4 ↗ |
| John C. Huffard, Jr | Director | 2026-06-30 | A | 168.47 | 315 | 53,000 | Derivative, Class A Common | Form 4 ↗ |
| Brian Barr | Chief Operating Officer | 2026-07-27 | A | 1,456 | — | — | Derivative, Class A Common | Form 4 ↗ |
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Anil Bhatt | RSU | 2025-01-30 | — | — | 1,924 | — | $494,968 |
| Mark George | RSU | 2025-01-30 | — | — | 8,940 | — | 2,299,904 |
| Mark George | Options/SARs | 2025-01-30 | — | — | 26,337 | — | 2,300,010 |
| John Orr | RSU | 2025-01-30 | — | — | 2,410 | — | 619,997 |
| Claude Elkins | Options/SARs | 2025-01-30 | — | — | 6,870 | — | 599,957 |
| Claude Elkins | PSU | 2025-01-30 | 1,821 | 6,070 | 6,070 | 15,175 | 1,800,059 |
| Anil Bhatt | PSU | 2025-01-30 | 1,502 | 5,008 | 5,008 | 12,520 | 1,485,122 |
| John Orr | Options/SARs | 2025-01-30 | — | — | 7,099 | — | 619,956 |
| Anil Bhatt | Options/SARs | 2025-01-30 | — | — | 5,668 | — | 494,986 |
| Claude Elkins | RSU | 2025-01-30 | — | — | 2,332 | — | 599,930 |
| Jason Zampi | Options/SARs | 2025-01-30 | — | — | 5,954 | — | 519,963 |
| Mark George | PSU | 2025-01-30 | 6,980 | 23,267 | 23,267 | 58,168 | 6,899,829 |
| John Orr | PSU | 2025-01-30 | 1,882 | 6,272 | 6,272 | 15,680 | 1,859,962 |
| Jason Zampi | PSU | 2025-01-30 | 1,578 | 5,261 | 5,261 | 13,153 | 1,560,150 |
| Jason Zampi | RSU | 2025-01-30 | — | — | 2,021 | — | 519,922 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Anil Bhatt | $494,968 | $1,485,122 | $0 | 75.0% |
| Mark George | 2,299,904 | 6,899,829 | 0 | 75.0% |
| John Orr | 619,997 | 1,859,962 | 0 | 75.0% |
| Claude Elkins | 599,930 | 1,800,059 | 0 | 75.0% |
| Jason Zampi | 519,922 | 1,560,150 | 0 | 75.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Jason Zampi | Option | 2,022 | 240.38 | — |
| Jason Zampi | PSU | 21,100 | — | 6,091,992 |
| Claude Elkins | Option | 3,590 | 298.08 | — |
| Mark George | RSU | 3,945 | — | 1,139,000 |
| Mark George | PSU | 14,713 | — | 4,247,793 |
| Claude Elkins | RSU | 9,105 | — | 2,628,796 |
| John Orr | Option | 1,570 | 236.85 | — |
| Mark George | Option | 26,337 | 257.26 | — |
| Mark George | Option | 9,503 | 251.15 | — |
| John Orr | Option | 6,068 | 240.38 | — |
| Anil Bhatt | Option | 5,668 | 257.26 | — |
| Jason Zampi | Option | 5,954 | 257.26 | — |
| John Orr | Option | 3,220 | 241.18 | — |
| Jason Zampi | RSU | 21,159 | — | 6,109,026 |
| Claude Elkins | PSU | 14,240 | — | 4,111,373 |
| John Orr | PSU | 19,025 | — | 5,492,898 |
| John Orr | RSU | 5,470 | — | 1,579,298 |
| John Orr | Option | 7,099 | 257.26 | — |
| Claude Elkins | Option | 6,870 | 257.26 | — |
| Claude Elkins | Option | 3,220 | 241.18 | — |
| Claude Elkins | Option | 4,710 | 236.85 | — |
| Mark George | Option | 3,866 | 241.18 | — |
| Mark George | Option | 4,590 | 270.98 | — |
| Mark George | Option | 4,789 | 298.08 | — |
| John Orr | Option | 10,770 | 298.08 | — |
| Mark George | Option | 484 | 255.5 | — |
| Claude Elkins | Option | 3,050 | 270.98 | — |
| Claude Elkins | Option | 712 | 255.5 | — |
| Mark George | Option | 19,007 | 251.15 | — |
| Mark George | Option | 6,353 | 236.85 | — |
| Anil Bhatt | Option | 2,138 | 255.5 | — |
| Jason Zampi | Option | 1,456 | 255.5 | — |
The Committee made additional changes to our executive compensation program during 2025 to build on the aforementioned responsive actions to further refine our program to better align with shareholder feedback and market practice.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | FW Cook |
| Clawback policy | True |
| Anti-hedging | True |
| Anti-pledging | True |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-05-07 | 145,144,991 | 8,525,943 | 971,510 | 94.45% | Passed |
| 2025 | 2025-05-08 | 164,352,835 | 8,166,851 | 742,206 | 95.27% | Passed |
| 2024 | 2024-05-09 | 47,617,715 | 122,902,245 | 6,980,579 | 27.93% | Failed |
| 2023 | 2023-05-11 | 140,062,545 | 25,616,561 | 953,431 | 84.54% | Passed |
| 2022 | 2022-05-12 | 161,866,924 | 12,887,467 | 892,923 | 92.63% | Passed |
| 2021 | 2021-05-13 | 174,155,549 | 13,479,501 | 1,693,691 | 92.82% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2026 | 2026-05-07 | 94.45%a |
| 2025 | 2025-05-08 | 95.27%b |
| 2024 | 2024-05-09 | 27.93%c |
a. Approved under the standard stated in the filing — “How will these matters be decided at the Annual Meeting? Voting Item Voting Standard Treatment of Abstentions and Broker Non-Votes Recommendation 1 Election of 12 directors for a one-year term Majority of votes cast Not counted as votes cast and therefore no effect.”.
b. Approved under the standard stated in the filing — “How will these matters be decided at the Annual Meeting? Voting Item Voting Standard Treatment of Abstentions and Broker Non-Votes Recommendation 1 Election of 13 directors for a one-year term Plurality of votes cast Not counted as votes cast and therefore no effect.”.
c. Voting standard not stated in the filing.
Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
| Ratio (CEO : median employee) | 137 : 1 |
|---|---|
| CEO total compensation | $16,245,050 |
| Median employee compensation | $118,895 |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Richard H. AndersonIndependent · Board Chair · Audit and Finance · Compensation and Talent Management · Executive (Chair) | $217,000 | $235,698 | $0 | $0 | $25,000 | $477,698 |
| John C. Huffard, JrIndependent · Compensation and Talent Management (Chair) · Governance and Nominating · Safety (Chair) · Executive | 207,000 | 180,082 | 0 | 0 | 5,000 | 392,082 |
| Claude MongeauIndependent · Executive · Departed during FY | 110,000 | 280,156 | 0 | 0 | 0 | 390,156 |
| Francesca A. DeBiaseIndependent · Compensation and Talent Management · Governance and Nominating · Executive | 200,000 | 180,082 | 0 | 0 | 0 | 380,082 |
| Philip S. DavidsonIndependent · Audit and Finance · Safety | 180,000 | 180,082 | 0 | 0 | 5,000 | 365,082 |
| William Clyburn, JrIndependent · Governance and Nominating · Safety | 120,000 | 180,082 | 0 | 0 | 40,000 | 340,082 |
| Marcela E. DonadioIndependent · Audit and Finance (Chair) · Safety · Executive | 140,000 | 180,082 | 0 | 0 | 20,000 | 340,082 |
| Gilbert H. LamphereIndependent · Audit and Finance · Compensation and Talent Management | 130,000 | 180,082 | 0 | 0 | 17,500 | 327,582 |
| Christopher T. JonesIndependent · Audit and Finance · Safety · Executive | 140,000 | 180,082 | 0 | 0 | 5,000 | 325,082 |
| Mary Kathryn Heidi HeitkampIndependent · Governance and Nominating · Safety | 120,000 | 180,082 | 0 | 0 | 25,000 | 325,082 |
| Lori J. RyerkerkIndependent · Compensation and Talent Management · Governance and Nominating | 120,000 | 180,082 | 0 | 0 | 0 | 300,082 |
| Sameh FahmyIndependent · Audit and Finance · Safety | 120,000 | 180,082 | 0 | 0 | 0 | 300,082 |
| Thomas Colm KelleherIndependent · Compensation and Talent Management · Governance and Nominating · Not standing for re-election · Departed during FY | 70,000 | 180,082 | 0 | 0 | 0 | 250,082 |
| Mark R. GeorgeEmployee director · Executive | 0 | 0 | 0 | — | 0 | 0 |
| Annual cash retainer | $120,000 |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 5,000 |
| Stock ownership guideline | 5x annual amount of quarterly fees ($600,000) |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $1,874,000 |
| Equity awards (grant-date value) | $2,496,756 |
| All other compensation | $142,500 |
| Total cost of the board | $4,513,256 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
Of the companies Norfolk Southern names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.
Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Norfolk Southern.
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Deere & Company | 2025 | John May | $1,694,507 | $13,950,239 | $4,255,133 | $5,450,551 | $27,925,424 |
| 2 | FedEx Corporation | 2026 | Rajesh Subramaniam | 1,550,000 | 6,731,364 | 3,715,062 | 10,593,500 | 27,554,018 |
| 3 | United Parcel Service, Inc. | 2025 | Carol Tomé | 1,509,713 | 17,550,546 | 1,358,754 | 2,264,569 | 22,878,788 |
| 4 | Emerson Electric Co. | 2025 | Lal Karsanbhai | 1,537,500 | 15,413,325 | 0 | 3,728,525 | 21,240,262 |
| 5 | Honeywell International Inc. | 2025 | Vimal Kapur | 1,600,000 | 10,866,269 | 3,623,914 | 3,516,800 | 20,381,435 |
| 6 | Union Pacific Corporation | 2025 | V. James Vena | 1,475,000 | 9,000,130 | 6,000,003 | 3,437,250 | 20,296,362 |
| 7 | Parker-Hannifin Corporation | 2025 | Jennifer Parmentier | 1,462,500 | 6,313,226 | 6,941,315 | 3,356,416 | 19,317,705 |
| 8 | Waste Management, Inc. | 2025 | James Fish | 1,486,538 | 12,406,478 | 2,400,021 | 2,472,480 | 19,048,786 |
| 9 | Caterpillar Inc. | 2025 | Joseph Creed | 1,381,892 | 9,538,484 | 3,101,117 | 2,476,800 | 17,008,077 |
| 10 | Norfolk Southern | 2025 | Mark George | 1,100,000 | 9,199,733 | 2,300,010 | 2,932,875 | 16,245,050 |
| 11 | Illinois Tool Works Inc. | 2025 | Christopher A. O'Herlihy | 1,337,271 | 5,249,957 | 5,249,996 | 2,702,389 | 15,211,011 |
| 12 | CSX Corporation | 2025 | Stephen Angel | 386,364 | 5,385,342 | 5,248,065 | 513,863 | 11,711,612 |
| 13 | Eaton Corporation plc | 2025 | Paulo Ruiz | 1,087,116 | 4,140,314 | 1,384,695 | 1,155,000 | 7,923,677 |
| — | Canadian Pacific Kansas City Limited | — | — | — | — | — | — | not in coverage universe |
| — | Canadian National Railway Company | — | — | — | — | — | — | not in coverage universe |
Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Norfolk Southern | 118.5% | not disclosed | Yes — relative TSR | FW Cook |
| Canadian National Railway Company | not disclosed | not disclosed | not disclosed | not disclosed |
| Canadian Pacific Kansas City Limited | not disclosed | not disclosed | not disclosed | not disclosed |
| Caterpillar Inc. | 118% | PSU 50 · RSU 25 · Options 25 | Yes — relative Total Shareholder Return (rTSR) | Meridian Compensation Partners, LLC |
| CSX Corporation | not disclosed | PSU 50 · Option 30 · RSU 20 | not disclosed | Pay Governance, LLC |
| Deere & Company | 160.8% | PSU 50 · RSU 25 · Options 25 | No | Semler Brossy Consulting Group, LLC (current); Pearl Meyer & Partners, LLC (prior year) |
| Eaton Corporation plc | 70% | PSU 50 · RSU 25 · Options 25 | Yes — Relative TSR | Meridian Compensation Partners |
| Emerson Electric Co. | 141.5% | PSU 55 · RSU 45 | Yes — relative total shareholder return modifier benchmark (rTSR) | Exequity LLP |
| FedEx Corporation | 112.5% | not disclosed | Yes — Relative TSR (FY24-FY26 LTI Cash Plan) | Meridian Compensation Partners, LLC |
| Honeywell International Inc. | 126% | PSU 50 · Options 25 · RSU 25 | Yes — three-year total shareowner return (TSR) relative to the 2025 Compensation Peer Group | not disclosed |
| Illinois Tool Works Inc. | not disclosed | not disclosed | not disclosed | Meridian Compensation Partners LLC |
| Parker-Hannifin Corporation | 139.09% | PSU 50 · Options 50 | No | Mercer Consulting (Marsh & McLennan Companies, Inc.) |
| Union Pacific Corporation | 138% | PSU 60 · Options 40 | No | Pay Governance |
| United Parcel Service, Inc. | 75% | PSU 93 · Options 7 | Yes — Relative Total Shareowner Return (RTSR) | FW Cook |
| Waste Management, Inc. | 103.02% | PSU 80 · Options 20 | No | Frederic W. Cook & Co., Inc. |
Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.
Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, Mark George | DEF 14A | 2026-03-27 | 0001193125-26-127620 | Section “2025 Summary Compensation Table”. As printed: 16,245,050. Filing ↗machine: r5 · c33 · span 2773362–2773372 |
| 2 | Section 01, Claude Elkins | DEF 14A | 2026-03-27 | 0001193125-26-127620 | Section “2025 Summary Compensation Table”. As printed: 6,915,992. Filing ↗machine: r20 · c33 · span 2960779–2960788 |
| 3 | Section 01, John Orr | DEF 14A | 2026-03-27 | 0001193125-26-127620 | Section “2025 Summary Compensation Table”. As printed: 5,604,601. Filing ↗machine: r15 · c33 · span 2899580–2899589 |
| 4 | Section 01, Jason Zampi | DEF 14A | 2026-03-27 | 0001193125-26-127620 | Section “2025 Summary Compensation Table”. As printed: 4,865,704. Filing ↗machine: r10 · c33 · span 2838176–2838185 |
| 5 | Section 01, Anil Bhatt | DEF 14A | 2026-03-27 | 0001193125-26-127620 | Section “2025 Summary Compensation Table”. As printed: 4,382,284. Filing ↗machine: r25 · c33 · span 3025606–3025615 |
| 6 | Section 03, Anil Bhatt RSU | DEF 14A | 2026-03-27 | 0001193125-26-127620 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t156 · r32 · c19 · span 3345478–3345485 |
| 7 | Section 03, Mark George RSU | DEF 14A | 2026-03-27 | 0001193125-26-127620 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t156 · r8 · c19 · span 3152924–3152933 |
| 8 | Section 03, Mark George Options/SARs | DEF 14A | 2026-03-27 | 0001193125-26-127620 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t156 · r9 · c19 · span 3160869–3160878 |
| 9 | Section 03, John Orr RSU | DEF 14A | 2026-03-27 | 0001193125-26-127620 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t156 · r20 · c19 · span 3249194–3249201 |
| 10 | Section 03, Claude Elkins Options/SARs | DEF 14A | 2026-03-27 | 0001193125-26-127620 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t156 · r27 · c19 · span 3305281–3305288 |
| 11 | Section 03, Claude Elkins PSU | DEF 14A | 2026-03-27 | 0001193125-26-127620 | Section “2025 Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: t156 · r25 · c19 · span 3289400–3289409 |
| 12 | Section 03, Anil Bhatt PSU | DEF 14A | 2026-03-27 | 0001193125-26-127620 | Section “2025 Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: t156 · r31 · c19 · span 3337548–3337557 |
| 13 | Section 03, John Orr Options/SARs | DEF 14A | 2026-03-27 | 0001193125-26-127620 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t156 · r21 · c19 · span 3257136–3257143 |
| 14 | Section 03, Anil Bhatt Options/SARs | DEF 14A | 2026-03-27 | 0001193125-26-127620 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t153 · r25 · c17 · span 3019242–3019249 |
| 15 | Section 03, Claude Elkins RSU | DEF 14A | 2026-03-27 | 0001193125-26-127620 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t156 · r26 · c19 · span 3297339–3297346 |
| 16 | Section 03, Jason Zampi Options/SARs | DEF 14A | 2026-03-27 | 0001193125-26-127620 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t156 · r15 · c19 · span 3209005–3209012 |
| 17 | Section 03, Mark George PSU | DEF 14A | 2026-03-27 | 0001193125-26-127620 | Section “2025 Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: t156 · r7 · c19 · span 3144994–3145003 |
| 18 | Section 03, John Orr PSU | DEF 14A | 2026-03-27 | 0001193125-26-127620 | Section “2025 Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: t156 · r19 · c19 · span 3241264–3241273 |
| 19 | Section 03, Jason Zampi PSU | DEF 14A | 2026-03-27 | 0001193125-26-127620 | Section “2025 Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: t156 · r13 · c19 · span 3193133–3193142 |
| 20 | Section 03, Jason Zampi RSU | DEF 14A | 2026-03-27 | 0001193125-26-127620 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t156 · r14 · c19 · span 3201063–3201070 |
| 21 | Section 07, pay ratio | DEF 14A | 2026-03-27 | 0001193125-26-127620 | Section “CEO Pay Ratio”. As printed: 137 : 1. Filing ↗ |
| 22 | Section 08, Richard H. Anderson | DEF 14A | 2026-03-27 | 0001193125-26-127620 | Section “Director Compensation”. As printed: 477,698. Filing ↗machine: t88 · r4 · c8 · span 1662566–1662573 |
| 23 | Section 08, John C. Huffard, Jr | DEF 14A | 2026-03-27 | 0001193125-26-127620 | Section “Director Compensation”. As printed: 392,082. Filing ↗machine: t88 · r11 · c8 · span 1693722–1693729 |
| 24 | Section 08, Claude Mongeau | DEF 14A | 2026-03-27 | 0001193125-26-127620 | Section “Director Compensation”. As printed: 390,156. Filing ↗machine: t88 · r16 · c8 · span 1716385–1716392 |
| 25 | Section 08, Francesca A. DeBiase | DEF 14A | 2026-03-27 | 0001193125-26-127620 | Section “Director Compensation”. As printed: 380,082. Filing ↗machine: t88 · r7 · c8 · span 1675911–1675918 |
| 26 | Section 08, Philip S. Davidson | DEF 14A | 2026-03-27 | 0001193125-26-127620 | Section “Director Compensation”. As printed: 365,082. Filing ↗machine: t88 · r6 · c8 · span 1671471–1671478 |
| 27 | Section 08, William Clyburn, Jr | DEF 14A | 2026-03-27 | 0001193125-26-127620 | Section “Director Compensation”. As printed: 340,082. Filing ↗machine: t88 · r5 · c8 · span 1667020–1667027 |
| 28 | Section 08, Marcela E. Donadio | DEF 14A | 2026-03-27 | 0001193125-26-127620 | Section “Director Compensation”. As printed: 340,082. Filing ↗machine: t88 · r8 · c8 · span 1680363–1680370 |
| 29 | Section 08, Gilbert H. Lamphere | DEF 14A | 2026-03-27 | 0001193125-26-127620 | Section “Director Compensation”. As printed: 327,582. Filing ↗machine: t88 · r13 · c8 · span 1702628–1702635 |
| 30 | Section 08, Christopher T. Jones | DEF 14A | 2026-03-27 | 0001193125-26-127620 | Section “Director Compensation”. As printed: 325,082. Filing ↗machine: t88 · r12 · c8 · span 1698175–1698182 |
| 31 | Section 08, Mary Kathryn Heidi Heitkamp | DEF 14A | 2026-03-27 | 0001193125-26-127620 | Section “Director Compensation”. As printed: 325,082. Filing ↗machine: t88 · r10 · c8 · span 1689269–1689276 |
| 32 | Section 08, Lori J. Ryerkerk | DEF 14A | 2026-03-27 | 0001193125-26-127620 | Section “Director Compensation”. As printed: 300,082. Filing ↗machine: t88 · r14 · c8 · span 1707064–1707071 |
| 33 | Section 08, Sameh Fahmy | DEF 14A | 2026-03-27 | 0001193125-26-127620 | Section “Director Compensation”. As printed: 300,082. Filing ↗machine: t88 · r9 · c8 · span 1684794–1684801 |
| 34 | Section 08, Thomas Colm Kelleher | DEF 14A | 2026-03-27 | 0001193125-26-127620 | Section “Director Compensation”. As printed: 250,082. Filing ↗machine: t88 · r15 · c8 · span 1711734–1711741 |
| 35 | Section 08, Mark R. George | DEF 14A | 2026-03-27 | 0001193125-26-127620 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 36 | Section 02, Richard H. Anderson 2026-03-31 | Form 4 | 2026-04-02 | 0001225208-26-004164 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 37 | Section 02, John C. Huffard, Jr 2026-03-31 | Form 4 | 2026-04-02 | 0001225208-26-004165 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 38 | Section 02, John Orr 2026-04-26 | Form 4 | 2026-04-28 | 0001225208-26-004667 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 39 | Section 02, John Orr 2026-04-26 | Form 4 | 2026-04-28 | 0001225208-26-004667 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 40 | Section 02, John Orr 2026-04-26 | Form 4 | 2026-04-28 | 0001225208-26-004667 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 41 | Section 02, Christopher T. Jones 2026-05-20 | Form 4 | 2026-05-22 | 0001225208-26-005572 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 42 | Section 02, Sameh Fahmy 2026-05-20 | Form 4 | 2026-05-22 | 0001225208-26-005570 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 43 | Section 02, William Clyburn, Jr 2026-05-20 | Form 4 | 2026-05-22 | 0001225208-26-005566 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 44 | Section 02, Richard H. Anderson 2026-05-20 | Form 4 | 2026-05-22 | 0001225208-26-005565 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 45 | Section 02, Richard H. Anderson 2026-05-20 | Form 4 | 2026-05-22 | 0001225208-26-005565 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 46 | Section 02, John C. Huffard, Jr 2026-05-20 | Form 4 | 2026-05-22 | 0001225208-26-005575 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 47 | Section 02, Gilbert H. Lamphere 2026-05-20 | Form 4 | 2026-05-22 | 0001225208-26-005573 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 48 | Section 02, John C. Huffard, Jr 2026-05-20 | Form 4 | 2026-05-22 | 0001225208-26-005575 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 49 | Section 02, Lori J. Ryerkerk 2026-05-20 | Form 4 | 2026-05-22 | 0001225208-26-005574 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 50 | Section 02, Marcela E. Donadio 2026-05-20 | Form 4 | 2026-05-22 | 0001225208-26-005569 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 51 | Section 02, Mary Kathryn Heidi Heitkamp 2026-05-20 | Form 4 | 2026-05-22 | 0001225208-26-005571 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 52 | Section 02, Francesca A. DeBiase 2026-05-20 | Form 4 | 2026-05-22 | 0001225208-26-005568 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 53 | Section 02, Philip S. Davidson 2026-05-20 | Form 4 | 2026-05-22 | 0001225208-26-005567 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 54 | Section 02, Richard H. Anderson 2026-06-30 | Form 4 | 2026-07-01 | 0001225208-26-006269 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 55 | Section 02, John C. Huffard, Jr 2026-06-30 | Form 4 | 2026-07-01 | 0001225208-26-006270 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 56 | Section 02, Brian Barr 2026-07-27 | Form 4 | 2026-07-29 | 0001225208-26-006780 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 57 | Section 06, 2026 vote | Form 8-K | 2026-05-08 | 0001193125-26-214920 | Item 5.07 · say-on-pay result. As reported: 94.45% (votes for as printed: 145,144,991). Filing ↗ |
| 58 | Section 06, 2025 vote | Form 8-K | 2025-05-09 | 0001193125-25-116497 | Item 5.07 · say-on-pay result. As reported: 95.27% (votes for as printed: 164,352,835). Filing ↗ |
| 59 | Section 06, 2024 vote | Form 8-K | 2024-05-15 | 0001193125-24-139405 | Item 5.07 · say-on-pay result. As reported: 27.93% (votes for as printed: 47,617,715). Filing ↗ |
| 60 | Section 01 trend, Δ column (computed) | Computed | — | computed | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 61 | Section 03b vehicle mix (computed) | Computed | — | computed | RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio |
| 62 | Section 09b board cost (computed) | Computed | — | computed | Cash 1,874,000 + equity 2,496,756 + all other 142,500 = 4,513,256, summed across the director compensation table rows.machine: formula: Σ = 4,513,256 |
| 63 | Deere & Company, Section 10b CEO total | DEF 14A | 2026-01-14 | 0001104659-26-003618 | CEO total compensation as printed in Deere & Company's own proxy. As printed: 27,925,424. Filing ↗machine: t295 · r9 · c26 · span 5375554–5375564 |
| 64 | FedEx Corporation, Section 10b CEO total | DEF 14A | 2026-08-17 | 0001104659-26-097836 | CEO total compensation as printed in FedEx Corporation's own proxy. As printed: 27,554,018. Filing ↗machine: r1 · c54 · span 1409491–1409501 |
| 65 | United Parcel Service, Inc., Section 10b CEO total | DEF 14A | 2026-03-19 | 0001628280-26-019856 | CEO total compensation as printed in United Parcel Service, Inc.'s own proxy. As printed: 22,878,788. Filing ↗machine: r2 · c27 · span 899122–899132 |
| 66 | Emerson Electric Co., Section 10b CEO total | DEF 14A | 2025-12-12 | 0000032604-25-000103 | CEO total compensation as printed in Emerson Electric Co.'s own proxy. As printed: 21,240,262. Filing ↗machine: r2 · c27 · span 849389–849399 |
| 67 | Honeywell International Inc., Section 10b CEO total | DEF 14A | 2026-04-10 | 0000773840-26-000029 | CEO total compensation as printed in Honeywell International Inc.'s own proxy. As printed: 20,381,435. Filing ↗machine: span 2093429–2093439 |
| 68 | Union Pacific Corporation, Section 10b CEO total | DEF 14A | 2026-03-25 | 0000100885-26-000098 | CEO total compensation as printed in Union Pacific Corporation's own proxy. As printed: 20,296,362. Filing ↗machine: span 1158158–1158168 |
| 69 | Parker-Hannifin Corporation, Section 10b CEO total | DEF 14A | 2025-09-19 | 0001308179-25-000603 | CEO total compensation as printed in Parker-Hannifin Corporation's own proxy. As printed: 19,317,705. Filing ↗machine: r2 · c24 · span 1027257–1027267 |
| 70 | Waste Management, Inc., Section 10b CEO total | DEF 14A | 2026-03-31 | 0001104659-26-037381 | CEO total compensation as printed in Waste Management, Inc.'s own proxy. As printed: 19,048,786. Filing ↗machine: t83 · r2 · c36 · span 986125–986135 |
| 71 | Caterpillar Inc., Section 10b CEO total | DEF 14A | 2026-04-30 | 0001308179-26-000358 | CEO total compensation as printed in Caterpillar Inc.'s own proxy. As printed: 17,008,077. Filing ↗machine: span 855862–855872 |
| 72 | Norfolk Southern (subject), Section 10b CEO total | DEF 14A | 2026-03-27 | 0001193125-26-127620 | CEO total compensation as printed in Norfolk Southern's own proxy. As printed: 16,245,050. Filing ↗machine: r5 · c33 · span 2773362–2773372 |
| 73 | Illinois Tool Works Inc., Section 10b CEO total | DEF 14A | 2026-03-27 | 0001193125-26-127599 | CEO total compensation as printed in Illinois Tool Works Inc.'s own proxy. As printed: 15,211,011. Filing ↗machine: span 1647874–1647884 |
| 74 | CSX Corporation, Section 10b CEO total | DEF 14A | 2026-03-30 | 0001628280-26-021944 | CEO total compensation as printed in CSX Corporation's own proxy. As printed: 11,711,612. Filing ↗machine: r2 · c27 · span 1506353–1506363 |
| 75 | Eaton Corporation plc, Section 10b CEO total | DEF 14A | 2026-03-13 | 0001193125-26-105117 | CEO total compensation as printed in Eaton Corporation plc's own proxy. As printed: 7,923,677. Filing ↗machine: r4 · c18 · span 2008245–2008255 |
| 76 | Section 10a, Parker-Hannifin Corporation reciprocity | DEF 14A | — | 0001308179-25-000603 | Parker-Hannifin Corporation's most recent proxy was read; its disclosed peer group does not include Norfolk Southern. Filing ↗ |
| 77 | Section 10a, Union Pacific Corporation reciprocity | DEF 14A | — | 0000100885-26-000098 | Union Pacific Corporation's most recent proxy was read; its disclosed peer group does not include Norfolk Southern. Filing ↗ |
| 78 | Section 10a, CSX Corporation reciprocity | DEF 14A | — | 0001628280-26-021944 | CSX Corporation names Norfolk Southern in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 79 | Section 10a, Illinois Tool Works Inc. reciprocity | DEF 14A | — | 0001193125-26-127599 | Illinois Tool Works Inc.'s most recent proxy was read; its disclosed peer group does not include Norfolk Southern. Filing ↗ |
| 80 | Section 10a, Caterpillar Inc. reciprocity | DEF 14A | — | 0001308179-26-000358 | Caterpillar Inc.'s most recent proxy was read; its disclosed peer group does not include Norfolk Southern. Filing ↗ |
| 81 | Section 10a, Honeywell International Inc. reciprocity | DEF 14A | — | 0000773840-26-000029 | Honeywell International Inc.'s most recent proxy was read; its disclosed peer group does not include Norfolk Southern. Filing ↗ |
| 82 | Section 10a, Eaton Corporation plc reciprocity | DEF 14A | — | 0001193125-26-105117 | Eaton Corporation plc's most recent proxy was read; its disclosed peer group does not include Norfolk Southern. Filing ↗ |
| 83 | Section 10a, Emerson Electric Co. reciprocity | DEF 14A | — | 0000032604-25-000103 | Emerson Electric Co.'s most recent proxy was read; its disclosed peer group does not include Norfolk Southern. Filing ↗ |
| 84 | Section 10a, Waste Management, Inc. reciprocity | DEF 14A | — | 0001104659-26-037381 | Waste Management, Inc. names Norfolk Southern in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 85 | Section 10a, Deere & Company reciprocity | DEF 14A | — | 0001104659-26-003618 | Deere & Company's most recent proxy was read; its disclosed peer group does not include Norfolk Southern. Filing ↗ |
| 86 | Section 10a, United Parcel Service, Inc. reciprocity | DEF 14A | — | 0001628280-26-019856 | United Parcel Service, Inc.'s most recent proxy was read; its disclosed peer group does not include Norfolk Southern. Filing ↗ |