<SEC-DOCUMENT>0000950170-24-107258.txt : 20240917
<SEC-HEADER>0000950170-24-107258.hdr.sgml : 20240917
<ACCEPTANCE-DATETIME>20240917160509
ACCESSION NUMBER:		0000950170-24-107258
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20240913
FILED AS OF DATE:		20240917
DATE AS OF CHANGE:		20240917

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			George Mark R
		CENTRAL INDEX KEY:			0001793198
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-08339
		FILM NUMBER:		241304249

	MAIL ADDRESS:	
		STREET 1:		650 W PEACHTREE ST NW
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30308

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NORFOLK SOUTHERN CORP
		CENTRAL INDEX KEY:			0000702165
		STANDARD INDUSTRIAL CLASSIFICATION:	RAILROADS, LINE-HAUL OPERATING [4011]
		ORGANIZATION NAME:           	01 Energy & Transportation
		IRS NUMBER:				521188014
		STATE OF INCORPORATION:			VA
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		650 W PEACHTREE STREET NW
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30308
		BUSINESS PHONE:		470-463-6807

	MAIL ADDRESS:	
		STREET 1:		650 W PEACHTREE STREET NW
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30308
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>ownership.xml
<DESCRIPTION>4
<TEXT>
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<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2024-09-13</periodOfReport>

    <issuer>
        <issuerCik>0000702165</issuerCik>
        <issuerName>NORFOLK SOUTHERN CORP</issuerName>
        <issuerTradingSymbol>NSC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001793198</rptOwnerCik>
            <rptOwnerName>George Mark R</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>650 W PEACHTREE ST NW</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>ATLANTA</rptOwnerCity>
            <rptOwnerState>GA</rptOwnerState>
            <rptOwnerZipCode>30308</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>true</isDirector>
            <isOfficer>true</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
            <officerTitle>See Remarks</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>false</aff10b5One>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Option (right to buy, granted 2024)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>251.15</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2024-09-13</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>28510</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2034-09-12</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>28510</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>28510</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Restricted Stock Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F2"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2024-09-13</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
                <footnoteId id="F2"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>7960</value>
                    <footnoteId id="F2"/>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
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            <exerciseDate>
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            </exerciseDate>
            <expirationDate>
                <footnoteId id="F2"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>7960</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>14939</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Reports the grant to the reporting person of an option to purchase shares of common stock under the Norfolk Southern Corporation Long-Term Incentive Plan (a 16b-3 plan). These options will vest ratably in three annual installments beginning on the first anniversary of the grant date.</footnote>
        <footnote id="F2">Reports the number of Restricted Stock Units, exempt under Section 16(b), granted and credited to the account of the reporting person on September 13, 2024, under the terms of the Norfolk Southern Corporation Long-Term Incentive Plan. Each Unit is the economic equivalent of one share of Common Stock. These Units ultimately will be settled in Common Stock, vesting ratably in three annual installments beginning on the first anniversary of the grant date.</footnote>
    </footnotes>

    <remarks>President and Chief Executive Officer, See Exhibit 24.1 - Power of Attorney</remarks>

    <ownerSignature>
        <signatureName>Jason M. Morris via P.O.A. for Mark R. George</signatureName>
        <signatureDate>2024-09-17</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>nsc-ex24.htm
<DESCRIPTION>EX-24
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  <p style="margin-left:0.093%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;text-decoration:underline;font-size:11pt;font-family:Times New Roman;min-width:fit-content;">POWER OF ATTORNEY</font></p>
  <p style="margin-left:0.173%;text-indent:-0.094%;padding-left:0.093%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">For Executing SEC Forms 3, 4, 5, and 144</font></p>
  <p style="margin-left:0.173%;text-indent:-0.094%;padding-left:0.093%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:24.8pt;margin-right:0.176%;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">(and/or other similar reports)</font></p>
  <p style="text-indent:13.333%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:13.1pt;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Know all men by these presents, that I, the undersigned, hereby constitute and appoint each of the Corporate Secretary and Assistant Corporate Secretary signing singly, my true and lawful attorney-in-fact to:</font></p>
  <div class="item-list-element-wrapper" style="margin-left:13.333%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:5.234979865462056%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">(1)</font><div style="width:100%;display:inline;"><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">execute for and on my behalf SEC Forms 3, 4, 5, and 144 (including both amendments thereto and any and all other similar reports, however hereafter known, designated or identified) (&#34;Report&#34;) in accordance with (a) Section 16(a) of the Securities Exchange Act of 1934 and the rules thereunder and (b) Rule 144, concerning securities of Norfolk Southern Corporation;</font></div></div>
  <div class="item-list-element-wrapper" style="margin-left:13.333%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:5.234979865462056%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">(2)</font><div style="width:100%;display:inline;"><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">do and perform any and all acts for and on my behalf which may be necessary or desirable to complete any such Report(s) and to effect the timely filing of such Report(s) with the United States Securities and Exchange Commission and with any authority, agency, exchange or other body as may be required, or thought advisable, by my attorney-in-fact; and</font></div></div>
  <div class="item-list-element-wrapper" style="margin-left:13.333%;display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:13.1pt;min-width:4.537%;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:5.234979865462056%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">(3)</font><div style="width:100%;display:inline;"><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">take any other action of any type whatsoever in connection with the foregoing which, in the opinion of my attorney-in-fact, may be of benefit to, in the best interest of, or legally required of, me, it being understood that the documents executed by my attorney-in-fact on my behalf pursuant to this Power of Attorney shall be in such form and shall contain such terms and conditions as my attorney-in-fact, in her or his sole discretion, may approve.</font></div></div>
  <p style="text-indent:13.333%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:13.75pt;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">I hereby [1] grant to each and every of my attorneys-in-fact full power and authority to do and to perform all and every act and thing whatsoever requisite, necessary and proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as I or any such attorney-in-fact might or could do if personally present, with full power of substitution or revocation, and [2] ratify and confirm all that any of my attorneys-in-fact, or her or his substitute(s), lawfully shall do or cause to be done by virtue of this Power of Attorney and the rights and powers herein granted. I acknowledge that each and every of the foregoing attorneys-in-fact, in serving in such capacity at my request, are not assuming any of my responsibilities to comply with Section 16 of the Securities Exchange Act of 1934 or with Rule 144.</font></p>
  <p style="text-indent:13.333%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:13.1pt;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Unless earlier revoked by me in a signed writing delivered to an attorney-in-fact, as to each such attorney-in-fact, this Power of Attorney shall remain in full force and effect (and shall survive, if necessary, my incapacity and/or death) until I no longer am required to file Report(s) with the Securities and Exchange Commission with respect to my reportable beneficial ownership, and any other holdings, of and transactions in securities of Norfolk Southern Corporation or pursuant to Rule 144.</font></p>
  <p style="text-indent:13.333%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">IN WITNESS WHEREOF, I have executed this Power of attorney as of this 22</font><font style="color:#000000;white-space:pre-wrap;vertical-align:super;font-size:6.7pt;font-family:Times New Roman;min-width:fit-content;">nd</font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> day of July, 2024.</font></p>
  <p style="margin-left:0.173%;text-indent:-7.31%;padding-left:6.8%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:11.1pt;text-align:justify;"><font style="white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">&#160;</font></p>
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    <td style="padding-top:0.01in;vertical-align:top;border-bottom:0.5pt solid;padding-right:0.01in;text-align:left;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;min-width:fit-content;">/s/ Mark George</font></p></td>
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    <td style="padding-top:0.01in;vertical-align:top;padding-right:0.01in;text-align:left;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;min-width:fit-content;">Signature</font></p></td>
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    <td style="padding-top:0.01in;vertical-align:top;padding-right:0.01in;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;min-width:fit-content;">&#160;</font></p></td>
    <td style="padding-top:0.01in;vertical-align:top;padding-right:0.01in;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;min-width:fit-content;">&#160;</font></p></td>
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    <td style="padding-top:0.01in;vertical-align:top;padding-right:0.01in;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;min-width:fit-content;">&#160;</font></p></td>
    <td style="padding-top:0.01in;vertical-align:top;border-bottom:0.5pt solid;padding-right:0.01in;text-align:left;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;min-width:fit-content;">Mark George</font></p></td>
    <td style="padding-top:0.01in;vertical-align:top;border-bottom:0.5pt solid #ffffff03;padding-right:0.01in;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;min-width:fit-content;">&#160;</font></p></td>
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    <td style="padding-top:0.01in;vertical-align:top;padding-right:0.01in;text-align:left;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;min-width:fit-content;">Printed/Typed Name</font></p></td>
    <td style="padding-top:0.01in;vertical-align:top;padding-right:0.01in;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;min-width:fit-content;">&#160;</font></p></td>
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