CSX (CSX) CEO Stephen F. Angel granted 209 phantom stock units

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

ANGEL STEPHEN F reported acquisition or exercise transactions in this Form 4 filing.

CSX Corp reported that President and CEO Stephen F. Angel had 209 units of phantom stock credited on March 2, 2026 under the CSX Executive Deferred Compensation Plan. Each unit is economically equivalent to one CSX share and will be paid in cash according to his prior distribution election, bringing his indirect phantom stock balance in this plan to 1,211 units held by the plan trustee.

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	209	$43.17	$9K

Holdings After Transaction: Phantom Stock — 1,211 shares (Indirect, CSX Executive Deferred Compensation Plan)

Footnotes (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. By Trustee, CSX Corporation Executive Deferred Compensation Plan.

Form 4 Insider Transactions: What Each Field Means →

03/04/2026 - 04:15 PM

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

32202

(City)

(State)

(Zip)

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

3. Date of Earliest Transaction (Month/Day/Year)
03/02/2026

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

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

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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Phantom Stock	⁽¹⁾	03/02/2026		A		209		⁽¹⁾	⁽¹⁾	Common Stock	209	$43.17	1,211	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 Heekin-Luchin, Attorney-in-Fact	03/04/2026
	** 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.

Source: View Original Filing on SEC EDGAR

FAQ

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

CSX reported that President and CEO Stephen F. Angel was credited with 209 units of phantom stock on March 2, 2026. These units were awarded through the CSX Executive Deferred Compensation Plan and are economically equivalent to CSX common shares but settled in cash later.

Is the CSX (CSX) Form 4 transaction a stock purchase or sale?

The CSX Form 4 shows a grant or award acquisition of phantom stock, not an open-market stock purchase or sale. The 209 units were credited under the company’s Executive Deferred Compensation Plan and represent a deferred cash-settled benefit tied to CSX’s share value.

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

After the March 2, 2026 award, Stephen F. Angel is credited with a total of 1,211 phantom stock units in the CSX Executive Deferred Compensation Plan. Each unit mirrors the value of one CSX common share, with payment to be made in cash in the future.

What is phantom stock in the context of CSX (CSX) executive compensation?

At CSX, phantom stock represents units whose value equals one share of CSX common stock. Executives receive these units under a deferred compensation plan, and they are ultimately paid out in cash based on prior distribution elections rather than delivering actual company shares.

Who holds the CSX (CSX) phantom stock units reported for Stephen F. Angel?

The phantom stock units are held by the trustee of the CSX Corporation Executive Deferred Compensation Plan. The Form 4 notes the nature of ownership as indirect, with the trustee administering the plan and the units tied economically to CSX common stock.

How and when will the CSX (CSX) phantom stock units be paid to Stephen F. Angel?

The phantom stock units will be paid in cash according to Stephen F. Angel’s distribution election made at the time of deferral. Payment timing and form follow his prior election, with the cash amount based on the value of CSX common stock at payout.