secwatch.observer — SEC 8-K summary
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Issuer:     NORFOLK SOUTHERN CORP (NSC)
CIK:        0000702165
Form:       8-K
Filed at:   2024-02-01T23:59:59+00:00
Accession:  0001552781-24-000029
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/702165/000155278124000029/0001552781-24-000029-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/702165/000155278124000029/e24028_nsc-8k.htm
  HTML page:      https://secwatch.observer/filing/0001552781-24-000029

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer