CSX (CSX) CEO granted phantom stock through deferred compensation plan

Rhea-AI Filing Summary

CSX CORP President & CEO Stephen F. Angel reported an acquisition of phantom stock units through a company deferred compensation plan. On April 1, 2026, he received a grant of 218 units of phantom stock at a reference price of $41.44 per unit, held indirectly in the CSX Executive Deferred Compensation Plan.

Each phantom stock unit is the economic equivalent of one share of CSX common stock and will be settled in cash according to his prior distribution election. After this award, his plan account holds 1,432 phantom stock units, which includes 3.57 units credited in connection with a March 13, 2026 dividend at $37.18 per share.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider ANGEL STEPHEN F

Role President & CEO

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock	218	$41.44	$9K

Holdings After Transaction: Phantom Stock — 1,432 shares (Indirect, CSX Executive Deferred Compensation Plan)

Footnotes (1)

1. Each unit of phantom stock is the economic equivalent of one share of Company common stock. Units of phantom stock become payable, in cash, consistent with the Reporting Person's distribution election made at the time of deferral. Includes 3.57 units of phantom stock acquired in connection with the payment of a dividend on March 13, 2026 at $37.18 per share. By Trustee, CSX Corporation Executive Deferred Compensation Plan.

Key Figures

Phantom stock units granted: 218 units Reference price per unit: $41.44 per unit Total phantom units after grant: 1,432 units +3 more

6 metrics

Phantom stock units granted 218 units Grant on April 1, 2026

Reference price per unit $41.44 per unit Phantom stock grant price

Total phantom units after grant 1,432 units Balance following April 1, 2026 transaction

Dividend-related phantom units 3.57 units Credited from March 13, 2026 dividend

Dividend share price $37.18 per share Price used for March 13, 2026 dividend credit

Conversion price $0.00 Conversion or exercise price for phantom stock

Key Terms

Phantom Stock, CSX Executive Deferred Compensation Plan, economic equivalent, payable, in cash, +1 more

5 terms

Phantom Stock financial

"Each unit of phantom stock is the economic equivalent of one share of Company common stock."

A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.

CSX Executive Deferred Compensation Plan financial

"Nature of ownership: CSX Executive Deferred Compensation Plan."

economic equivalent financial

"Each unit of phantom stock is the economic equivalent of one share of Company common stock."

payable, in cash financial

"Units of phantom stock become payable, in cash, consistent with the Reporting Person's distribution election."

dividend financial

"Includes 3.57 units of phantom stock acquired in connection with the payment of a dividend on March 13, 2026 at $37.18 per share."

A dividend is a payment that a company gives to its shareholders, usually from its profits. It’s like a bonus or reward for owning the company's stock, and it can provide a steady income stream for investors. Companies pay dividends to share their success with the people who own their stock.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

ANGEL STEPHEN F

(Last) (First) (Middle)

500 WATER STREET

(Street)

JACKSONVILLE FLORIDA 32202

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
CSX CORP [ CSX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President & CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Stock	(1)	04/01/2026		A		218		(1)	(1)	Common Stock	218	$41.44	1,432(2)	I	CSX Executive Deferred Compensation Plan(3)

Explanation of Responses:

1. Each unit of phantom stock is the economic equivalent of one share of Company common stock. Units of phantom stock become payable, in cash, consistent with the Reporting Person's distribution election made at the time of deferral.

2. Includes 3.57 units of phantom stock acquired in connection with the payment of a dividend on March 13, 2026 at $37.18 per share.

3. By Trustee, CSX Corporation Executive Deferred Compensation Plan.

	Kacey Heekin-Luchin, Attorney-in-Fact	04/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did CSX (CSX) report for Stephen F. Angel?

CSX reported that President & CEO Stephen F. Angel acquired 218 units of phantom stock on April 1, 2026. The units were granted as a compensation award and are held indirectly through the CSX Executive Deferred Compensation Plan for his benefit.

What is the size and price of the phantom stock award reported by CSX (CSX)?

The award consists of 218 phantom stock units with a reference price of $41.44 per unit. Each unit tracks the value of one CSX common share, providing cash-settled, share-linked compensation rather than direct ownership of common stock.

How many phantom stock units does Stephen F. Angel hold after this CSX (CSX) Form 4?

Following the April 1, 2026 grant, Stephen F. Angel’s account shows 1,432 phantom stock units. This total includes 3.57 units credited from a March 13, 2026 dividend reinvestment at $37.18 per share within the deferred compensation plan.

How do CSX (CSX) phantom stock units work for executives?

Each CSX phantom stock unit is economically equivalent to one share of company common stock, but is paid out in cash. Payout timing follows the executive’s distribution election at the time of deferral, aligning compensation value with CSX’s share performance without issuing new shares.

Is Stephen F. Angel’s CSX (CSX) phantom stock held directly or indirectly?

The phantom stock is held indirectly through the CSX Executive Deferred Compensation Plan, with a trustee holding the units. The Form 4 describes the ownership as indirect, identifying the plan as the vehicle through which the economic interest is maintained for the executive.