CSX CEO granted 185 phantom stock units at $48.70

CSX’s President & CEO received a cash-settled phantom stock award credited to the executive deferred compensation plan.

Rhea-AI Filing Summary

CSX CORP (symbol: CSX) is the issuer of record for a Form 4 filing submitted to the SEC. ANGEL STEPHEN F reported acquisition or exercise transactions in this Form 4 filing.

CSX CORP (CSX) reported that President & CEO Stephen F. Angel received an award of 185 units of Phantom Stock on September 1, 2026. These units, held indirectly through the CSX Executive Deferred Compensation Plan, now total 2,387 units and are economically equivalent to CSX common shares but are payable in cash.

Insider Trade Summary

Grant/Award: 185 shares

Grant/Award 1 txn

Insider ANGEL STEPHEN F

Role President & CEO

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock F1, F2	185	$48.70	$9K

Holdings After Transaction: Phantom Stock — 2,387 contracts (Indirect, CSX Executive Deferred Compensation Plan)

Footnotes (2)

1. F1. 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. F2. By Trustee, CSX Corporation Executive Deferred Compensation Plan.

Key Figures

Phantom Stock units granted: 185 units Reference value per Phantom Stock unit: $48.70 per unit Total Phantom Stock units after transaction: 2,387 units

3 metrics

Phantom Stock units granted 185 units Grant to President & CEO Stephen F. Angel on September 1, 2026

Reference value per Phantom Stock unit $48.70 per unit Transaction price per unit for the September 1, 2026 award

Total Phantom Stock units after transaction 2,387 units Indirect holdings in CSX Executive Deferred Compensation Plan following the award

Key Terms

Phantom Stock, economic equivalent, Executive Deferred Compensation Plan

3 terms

Phantom Stock financial

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

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.

economic equivalent financial

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

Executive Deferred Compensation Plan financial

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

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

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

CSX reported that President & CEO Stephen F. Angel acquired 185 units of Phantom Stock on September 1, 2026, as a grant or award credited to the CSX Executive Deferred Compensation Plan.

How many Phantom Stock units does the CSX (CSX) CEO hold after this Form 4?

After the reported award, Stephen F. Angel holds 2,387 units of Phantom Stock indirectly through the CSX Executive Deferred Compensation Plan, according to the filing’s post-transaction holdings figure.

What is Phantom Stock in the context of CSX (CSX)?

Each unit of Phantom Stock is the economic equivalent of one share of CSX common stock and becomes payable in cash according to the executive’s distribution election made at the time of deferral.

What was the reference price for the CSX (CSX) Phantom Stock grant?

The award to Stephen F. Angel covered 185 Phantom Stock units at a reported reference value of $48.70 per unit, as shown in the transaction price per unit field.

Is the CSX (CSX) Phantom Stock award held directly by the CEO?

No. The 185 Phantom Stock units, and the total 2,387 units, are held indirectly by a trustee under the CSX Executive Deferred Compensation Plan, as stated in the ownership nature footnote.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/02/2026 - 04:16 PM EDT Accepted by SEC EDGAR 09/02/2026 - 04:15 PM EDT Learn about SEC filing dates

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)
09/01/2026

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)	09/01/2026		A		185		(1)	(1)	Common Stock	185	$48.7	2,387	I	CSX Executive Deferred Compensation Plan(2)

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. By Trustee, CSX Corporation Executive Deferred Compensation Plan.

	Kacey D. Heekin-Luchin, Attorney-in-Fact	09/02/2026
	** 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)