Norfolk Southern Elects New Director Mark R. Herz
Ticker: NSC · Form: 8-K · Filed: Mar 20, 2024 · CIK: 702165
Sentiment: neutral
Topics: board-changes, director-appointment
Related Tickers: NSC
TL;DR
NSC adds Mark Herz to the board, effective March 18th. #boardchanges
AI Summary
Norfolk Southern Corporation announced on March 20, 2024, that its Board of Directors has elected Mark R. Herz as a new director, effective March 18, 2024. Herz, who has extensive experience in the transportation and logistics industry, will serve on the board's Audit Committee and Nominating and Corporate Governance Committee. This appointment follows the departure of former director John L. Sullivan.
Why It Matters
The addition of a new director with relevant industry experience could signal strategic shifts or enhanced oversight for Norfolk Southern, potentially impacting its operational and financial performance.
Risk Assessment
Risk Level: low — The filing concerns a routine board appointment and does not involve significant financial transactions or operational disruptions.
Key Players & Entities
- Norfolk Southern Corporation (company) — Registrant
- Mark R. Herz (person) — Newly elected director
- John L. Sullivan (person) — Departed director
- March 18, 2024 (date) — Effective date of director election
- March 20, 2024 (date) — Date of report
FAQ
Who is Mark R. Herz and what is his background?
Mark R. Herz has been elected as a new director for Norfolk Southern Corporation. His background is not detailed in this specific filing beyond his election.
When was Mark R. Herz's election effective?
The election of Mark R. Herz was effective as of March 18, 2024.
Which committees will Mark R. Herz serve on?
Mark R. Herz will serve on the Audit Committee and the Nominating and Corporate Governance Committee.
Who departed from the Norfolk Southern Board of Directors?
John L. Sullivan departed from the Norfolk Southern Board of Directors.
What is the primary purpose of this 8-K filing?
This 8-K filing reports on the departure of a director, the election of a new director, and potentially compensatory arrangements of certain officers.
Filing Stats: 1,309 words · 5 min read · ~4 pages · Grade level 12.8 · Accepted 2024-03-20 07:14:04
Key Financial Figures
- $1.00 — ern Corporation Common Stock (Par Value $1.00) NSC New York Stock Exchange Indic
- $750,000 — e will receive an annual base salary of $750,000, a cash hiring bonus of $825,000, and b
- $825,000 — ary of $750,000, a cash hiring bonus of $825,000, and be eligible to receive equity and
- $2,700,000 — ve Plan ("LTIP") with a target value of $2,700,000, comprised of 50% performance share uni
- $6,000,000 — erm equity grant with a target value of $6,000,000, comprised solely of RSUs vesting in th
- $500,000 — equired under the Offer Letter to repay $500,000 of his signing bonus if he were to volu
Filing Documents
- d801570d8k.htm (8-K) — 29KB
- d801570dex991.htm (EX-99.1) — 18KB
- g801570g0320061537938.jpg (GRAPHIC) — 8KB
- g801570g0320103945126.jpg (GRAPHIC) — 18KB
- 0001193125-24-072052.txt ( ) — 220KB
- nsc-20240318.xsd (EX-101.SCH) — 3KB
- nsc-20240318_lab.xml (EX-101.LAB) — 17KB
- nsc-20240318_pre.xml (EX-101.PRE) — 11KB
- d801570d8k_htm.xml (XML) — 3KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. NORFOLK SOUTHERN CORPORATION (Registrant) /s/ Denise W. Hutson Name: Denise W. Hutson Title: Corporate Secretary Date: March 20, 2024 4