---
schema_version: "secwatch.filing_event.v1"
accession: "0001552781-22-000119"
form_type: "8-K"
ticker: "NSC"
cik: "0000702165"
company_name: "NORFOLK SOUTHERN CORP"
filed_at: "2022-01-26T23:59:59+00:00"
generated_at: "2026-06-27T15:36:20.997704+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Norfolk Southern Q4 EPS $3.12, op ratio 60.4% record; Shaw to become CEO May 1

## Summary
- Q4 net income $760M, diluted EPS $3.12; FY net income $3.005B, diluted EPS $12.11, both records.
- Railway operating ratio improved to 60.4% in Q4 and 60.1% for FY, both all-time records.
- Alan H. Shaw to succeed James A. Squires as CEO effective May 1, 2022; Shaw elected to board.
- Amy E. Miles elected non-executive chair of board effective May 1; Steven Leer remains as director.
- Repurchased 12.7M shares for $3.4B in 2021; board amended bylaws to separate CEO/chair roles.

## SEC filing metadata
- accession: 0001552781-22-000119
- form_type: 8-K
- ticker: NSC
- cik: 0000702165
- company_name: NORFOLK SOUTHERN CORP
- filed_at: 2022-01-26T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 5.02, 5.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/702165/000155278122000119/0001552781-22-000119-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/702165/000155278122000119/e22049_nsc-8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001552781-22-000119
- JSON: https://secwatch.observer/filing/0001552781-22-000119.json
- Plain text: https://secwatch.observer/filing/0001552781-22-000119.txt

## Key facts
- Executive change
  Alan H. Shaw was appointed as Chief Executive Officer at NORFOLK SOUTHERN CORP.
  - Action: appointed
  - Role: Chief Executive Officer
  source text: Mr. Shaw also will succeed James A. Squires as the Company's CEO on May 1, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/702165/000155278122000119/0001552781-22-000119-index.htm
- Executive change
  James A. Squires resigned as Chief Executive Officer at NORFOLK SOUTHERN CORP.
  - Action: resigned
  - Role: Chief Executive Officer
  source text: Mr. Shaw also will succeed James A. Squires as the Company's CEO on May 1, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/702165/000155278122000119/0001552781-22-000119-index.htm
- Executive change
  Alan H. Shaw was elected as Director at NORFOLK SOUTHERN CORP.
  - Action: elected
  - Role: Director
  source text: elected Alan H. Shaw to the Board, effective May 1, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/702165/000155278122000119/0001552781-22-000119-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.