Norfolk Southern (NSC) executive compensation, 2026 proxy

Mark R. George, President & Chief Executive Officer, was paid $16.2M in 2025, up 81% from $9M the year before. The CEO-to-median-employee pay ratio was 137:1, on median employee pay of $118,895.

Filed
March 27, 2026
Annual meeting
May 7, 2026
Pay year
2025
Named executives
5
CEO total pay
$16.2M+81% vs prior year
CEO to median employee
137:1median $118,895
CEO pay in equity
71%$11.5M in awards
Prior say-on-pay support
95%of votes cast
Operating Revenues
$12.2BUp $57 million from 2024
Operating Ratio
64.2%220 bps improvement
Diluted EPS
$12.7510% increase
Productivity Savings
$215MIn excess of target

How George was paid

$16.2M in total for 2025, as reported in the Summary Compensation Table. Equity awards are valued at grant, not at what they turned out to be worth.

Salary7%Stock awards57%Option awards14%Non-equity incentive18%Pension and deferred comp3%All other compensation1%

Named executive officers

ExecutiveTotal
Mark R. GeorgePresident & Chief Executive Officer$16,245,050
Jason A. ZampiExecutive Vice President & Chief Financial Officer$4,865,704
John F. OrrExecutive Vice President & Chief Operating Officer$5,604,601
Claude E. ElkinsExecutive Vice President & Chief Commercial Officer$6,915,992
Anil BhattExecutive Vice President & Chief Information & Digital Officer$4,382,284

What changed and why

  • $16.2MCEO Mark R. George received total compensation of $16,245,050 for fiscal year 2025.
  • $12.2BRailway operating revenues increased to $12.2 billion, up $57 million compared to 2024.
  • 64.2%The operating ratio improved by 220 basis points to 64.2% from 66.4% in 2024.
  • 10%Diluted earnings per share increased by 10% to $12.75 compared to the prior year.
  • $66MThe company exceeded its original productivity target by $66 million or 44%.

About this page

Figures are automated and can be wrong; check the filing for the exact numbers. Totals follow SEC rules, which value stock and option awards at grant. Read the DEF 14A proxy statement for footnotes and the compensation committee's full reasoning.