Norfolk Southern Corp EVP and Chief Information and Digital Officer Anil Bhatt filed a Form 4 on October 26, 2026, reporting transactions in common stock and restricted stock units dated October 24, 2026.

Key Highlights

  • RSU conversion: 3,259 restricted stock units were converted to common stock on October 24, 2026, at a price of $0.0000, representing the second of three settlement installments from a grant credited October 24, 2024.
  • Shares withheld for taxes: 1,338 shares of common stock were disposed of at $332.09 per share on the same date, coded as an F transaction (payment of exercise price or tax liability).
  • Resulting direct ownership: Following the transactions, Bhatt directly holds 3,960 shares of common stock.
  • Remaining RSUs: Bhatt holds 8,408 restricted stock units following the reported transaction, directly owned.
  • Plan basis: The RSUs were granted under the Norfolk Southern Corporation Long-Term Incentive Plan and are described as "exempt under Section 16(b)."
  • Issuer: Norfolk Southern Corp, traded as NYSE:NSC.

Bhatt's October 2026 RSU Settlement and Share Withholding at Norfolk Southern

According to the filing, Anil Bhatt, identified as EVP and CIDO (Executive Vice President and Chief Information and Digital Officer) of Norfolk Southern Corp (NYSE:NSC), reported two transactions in Table I on October 24, 2026. First, 3,259 shares of common stock were acquired via an M-coded transaction, reflecting the conversion of an equal number of restricted stock units at a reported price of $0.0000. Second, 1,338 shares were disposed of via an F-coded transaction at $332.09 per share, a mechanism used to satisfy tax withholding obligations upon vesting.

The filing's footnote explains that the RSUs were originally granted and credited to Bhatt's account on October 24, 2024, under the Norfolk Southern Corporation Long-Term Incentive Plan. Each unit is described as "the economic equivalent of one share of Common Stock" and "ultimately will be settled in Common Stock." The footnote further states that "this distribution represents the second settlement of three installments," indicating one additional settlement remains outstanding.

After both transactions, Bhatt's direct beneficial ownership in common stock stands at 3,960 shares. His remaining directly held restricted stock units total 8,408 following the M-coded conversion. The Form 4 was signed by J. Jeremy Ballard via power of attorney on behalf of Anil Bhatt and filed on October 26, 2026.

What Was Disclosed

The filing disclosed the second of three RSU settlement installments for Anil Bhatt, covering 3,259 units converted to common stock on October 24, 2026, and the withholding of 1,338 shares at $332.09 for tax purposes, leaving him with 3,960 direct shares and 8,408 remaining RSUs.