Highest-materiality recent filing
All twelve director nominees elected with strong majority votes; each received over 148M votes for.
Norfolk Southern Q1 EPS $2.43 (-27% YoY); operating ratio 70.7%
Railway operating revenues $3.0B flat YoY; volume down 1%.
Norfolk Southern renews HQ lease for 5 years, $498.7M aggregate; reclassifies as finance lease
Renewed lease for headquarters at 650 West Peachtree Street, Atlanta, for a 5-year term starting April 1, 2026.
Norfolk Southern Q4 adj. EPS $3.22 (+6%); revenue $3.0B (-2%); OR 65.3%
Q4 revenue $3.0B (-2% YoY); volume down 4%. Income from railway ops $937M (-17%).
Norfolk Southern & Union Pacific file STB merger application for first transcontinental railroad
7,000-page application filed with STB on Dec. 19, 2025; 2,000 support letters; 99% shareholder approval at both companies.
Norfolk Southern shareholders approve merger with Union Pacific; ~99% vote FOR
Shareholders voted 162.2M FOR, 2.4M AGAINST, 310k abstain — ~98.6% of votes cast in favor.
Norfolk Southern discloses three shareholder lawsuits challenging UP merger; supplements proxy
Three lawsuits filed in NY Supreme Court (Oct 23-26, 2025) allege disclosure deficiencies in merger proxy.
Norfolk Southern Q3 rev $3.1B (+2%), adj EPS $3.30 (+2%); raises FY25 productivity target to ~$200M
GAAP EPS $3.16 vs $4.85 YoY (prior year included $380M railway line gains).
Norfolk Southern awards $13.25M retention bonuses to five NEOs for merger stability
CEO Mark R. George receives $4M; CFO Jason A. Zampi $2.25M; John F. Orr $3M; Claude E. Elkins $2M; Anil Bhatt $2M.
Union Pacific to acquire Norfolk Southern for $320/sh; creates first transcontinental railroad
Transaction values Norfolk Southern at $85B enterprise; combined enterprise over $250B.
Norfolk Southern Q2 EPS $3.41, announces $85B merger with Union Pacific
Revenue $3.1B (+2% YoY), diluted EPS $3.41 vs $3.25; adjusted EPS $3.29 (+8%).
Each NSC share converts into 1 share of UNP common stock plus $88.82 in cash.
Norfolk Southern and Union Pacific in advanced merger discussions
Norfolk Southern (NSC) and Union Pacific (UNP) confirmed advanced discussions for a potential business combination.
Norfolk Southern elects Richard H. Anderson as independent board chair, effective immediately
Anderson succeeds Claude Mongeau, who resigned June 2, 2025 for personal reasons.
Norfolk Southern Board Chair Claude Mongeau resigns for personal reasons
Claude Mongeau resigned from the Board effective June 2, 2025, citing personal reasons.
On June 2, 2025, Claude Mongeau, Chair of the Board of Directors (the “Board”) of Norfolk Southern Corporation (the “Company”) resigned from the Board for personal reasons.
Max materiality 1.00 · Median 0.70 · Most common event m_and_a