Norfolk Southern EVP & Chief Transformation Officer Adams departs; retention agreement through July 2025

NORFOLK SOUTHERN CORP

Ann A. Adams leaves EVP & Chief Transformation Officer role effective March 16, 2024; remains as employee under Retention Agreement through July 31, 2025.
Retention Agreement: oversight of HR, IT, labor relations, litigation support, and 2025 national labor negotiations.
Severance benefits: 2x base salary lump sum, prorated 2024 annual incentive, cash for equity awards, $30k outplacement, $36k healthcare.
Departure qualifies as 'Good Reason' under Executive Severance Plan; Separation Agreement required for benefits.
Retention Agreement to be filed with Q1 2024 10-Q.

item 5.02

Executive movements

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Departed

Ann A. Adams

Executive Vice President and Chief Transformation Officer

NSC · NORFOLK SOUTHERN CORP

Effective: 2024-03-16
Filed: February 1, 2024, 6:59 PM ET

On February 1, 2024, Norfolk Southern Corporation (the “Company”) announced that Ann A. Adams will be leaving her position as Executive Vice President and Chief Transformation Officer of the Company, effective March 16, 2024 (the “Transition Date”).

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Ann A. Adams departed as Executive Vice President and Chief Transformation Officer at NORFOLK SOUTHERN CORP.

Action: leaving her position
Role: Executive Vice President and Chief Transformation Officer

Exact text from the filing

On February 1, 2024, Norfolk Southern Corporation (the “Company”) announced that Ann A. Adams will be leaving her position as Executive Vice President and Chief Transformation Officer of the Company, effective March 16, 2024 (the “Transition Date”).

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Source: SEC EDGAR

accession 0001552781-24-000029

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