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Norfolk Southern Corporation 2025-2026 Proxy Voting Records

Compiled from SEC Form N-PX filings and Norfolk Southern Corporation’s Form 8-K (Item 5.07 on EDGAR). Page generated 02 October 2026.

28Reported items
1,282Asset managers
15,080Fund votes
2026-05-07Main meeting date

Proxy season: 2023-2024 2024-2025 2025-2026

Explore Norfolk Southern Corporation in the interactive database Compare manager voting policies

Official 2025-2026 meeting results reported by Norfolk Southern Corporation

These tallies are Norfolk Southern Corporation’s own, as disclosed to the U.S. Securities and Exchange Commission on Form 8-K (Item 5.07, “Submission of Matters to a Vote of Security Holders”). They cover every share voted at the meeting, not just the funds that file Form N-PX. Norfolk Southern Corporation reported 2 meetings in this season; each is tabulated separately below, with its own filing.

Norfolk Southern Corporation — official shareholder meeting results, meeting held 2026-05-07 (Form 8-K)
Ballot item	For	Against	Abstain	Withheld	Broker non-votes	Outcome
Elect Director: Richard H. Anderson	152,512,632	1,482,330	647,482	--	29,538,903	Majority: yes
Elect Director: William Clyburn, Jr.	152,233,704	1,979,216	429,524	--	29,538,903	Majority: yes
Elect Director: Philip S. Davidson	153,435,546	849,468	357,430	--	29,538,903	Majority: yes
Elect Director: Francesca A. DeBiase	152,004,541	2,298,676	339,227	--	29,538,903	Majority: yes
Elect Director: Marcela E. Donadio	151,629,036	2,673,402	340,005	--	29,538,903	Majority: yes
Elect Director: Sameh Fahmy	152,607,463	1,676,013	358,967	--	29,538,903	Majority: yes
Elect Director: Mark R. George	153,449,212	856,767	336,465	--	29,538,903	Majority: yes
Elect Director: Mary K. Heitkamp	152,207,108	2,012,797	422,539	--	29,538,903	Majority: yes
Elect Director: John C. Huffard, Jr.	148,653,437	5,622,830	366,177	--	29,538,903	Majority: yes
Elect Director: Christopher T. Jones	153,454,635	805,321	382,488	--	29,538,903	Majority: yes
Elect Director: Gilbert H. Lamphere	152,909,098	1,380,458	352,888	--	29,538,903	Majority: yes
Elect Director: Lori J. Ryerkerk	152,274,397	1,924,124	443,923	--	29,538,903	Majority: yes
Proposal 2: Ratification of Appointment of Independent Registered Public Accounting Firm Shareholders ratified the appointment of KPMG LLP as the Corporation's independent registered public accounting firm for the year ending December 31, 2026, by the followin	173,549,280	10,296,435	335,631	--	--	Majority: yes
Proposal 3: Advisory Resolution on Executive Compensation ("Say on Pay") Shareholders approved, on an advisory basis, the resolution on executive compensation, as disclosed in the proxy statement for the 2026 Annual Meeting of Shareholders, by the following co	145,144,991	8,525,943	971,510	--	29,538,903	Majority: yes

Source: Norfolk Southern Corporation, Form 8-K — read the filing on EDGAR.

Norfolk Southern Corporation — official shareholder meeting results, meeting held 2025-11-14 (Form 8-K, filed 2025-11-17)
Ballot item	For	Against	Abstain	Withheld	Broker non-votes	Outcome
Proposal 1: The Merger Agreement Proposal Shareholders approved the Agreement and Plan of Merger entered into by and among Norfolk Southern, Union Pacific and two wholly owned subsidiaries of Union Pacific on July 28, 2025 (the "Merger Agreement"), and the tra	162,191,626	2,366,923	310,098	--	--	Majority: yes
Proposal 2: The Merger-Related Compensation Proposal Shareholders approved, on a non-binding advisory basis, the compensation that may be paid or become payable to the named executive officers of Norfolk Southern in connection with the transactions contemplate	152,680,836	11,189,077	998,734	--	--	Majority: yes

Source: Norfolk Southern Corporation, Form 8-K, filed with the SEC on 2025-11-17 — read the filing on EDGAR.

How asset managers voted at the Norfolk Southern Corporation 2025-2026 meetings

Each item below shows how the 1,282 asset managers that disclosed a Norfolk Southern Corporation vote in their SEC Form N-PX filings actually voted. Share totals are the shares those managers' funds voted, summed across every fund they report. These are reported items, not a count of the ballot: fund filings describe one ballot item in different words. Two descriptions are shown as one item only on evidence — the same text (or one cut short of the other), the same director nominee, or a match to the same row of Norfolk Southern Corporation’s own Form 8-K tally — never because they merely read alike. A description that could not be joined that way is listed on its own, so one ballot item can appear more than once.

1. Approval of the advisory resolution on executive compensation, as disclosed in the proxy statement for the 2026 Annual Meeting of Shareholders.

SECTION 14A SAY-ON-PAY VOTESMajority of the votes cast: yes

Meeting held 2026-05-07.

Combines 25 wordings of this item as funds reported it.

94% Majority: yes · of votes cast

FOR 94%

FOR: 145,144,991AGAINST: 8,525,943

Norfolk Southern Corporation’s own tally for this item (“Proposal 3: Advisory Resolution on Executive Compensation ("Say on Pay") Shareholders approved, on an advisory basis, the resolution on executive compensation, as disclosed in the proxy statement for the 2026 Annual Meet”): 145,144,991 for, 8,525,943 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 224,594,001 outstanding shares: 65% for, 4% against (68% of the company cast a for/against vote).

The 1,147 asset managers below cast 97% of the shares they voted on this item FOR (136,941,214 for, 4,908,581 against).

FOR 96%

FOR: 136,941,214 (96.3%)AGAINST: 4,908,581 (3.5%)ABSTAIN: 272,987 (0.2%)NOT VOTED: 14,450 (0.0%)UNKNOWN: 7,409 (0.0%)SPLIT: 51 (0.0%)

Largest asset managers voting on “Approval of the advisory resolution on executive compensation, as disclosed in the proxy statement for the 202” at Norfolk Southern Corporation, 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	22,363,680	129	14	For
Dodge & Cox	14,328,127	0	0	For
BlackRock	12,974,129	130	0	For
Fidelity	6,971,527	0	0	For
State Street	5,937,904	68,155	0	For
GEODE CAPITAL MANAGEMENT, LLC	5,034,219	0	0	For
T. Rowe Price	4,413,062	175	0	For
Capital Group	3,974,267	0	0	For
American Century	3,384,760	0	0	For
Invesco	3,203,007	0	0	For
Charles Schwab	2,951,429	0	0	For
Northern Trust	2,441,627	10,139	0	For
Amundi	0	1,997,792	0	Against
LONDON CO OF VIRGINIA	1,617,238	0	0	For
Dimensional	1,607,739	0	0	For
OAK RIDGE INVESTMENTS LLC	1,522,858	0	0	For
Pentwater Capital Management LP	1,522,858	0	0	For
DE Shaw	1,293,908	0	0	For
Global X	1,230,744	0	0	For
Legal & General Investment Management Ltd	39,285	1,111,951	0	Against
Goldman Sachs	1,086,213	0	0	For
MELLON INVESTMENTS Corp	1,036,236	0	0	For
PRIMECAP MANAGEMENT CO/CA/	1,025,293	0	0	For
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP	1,002,938	17,890	0	For
PARAMETRIC PORTFOLIO ASSOCIATES LLC	933,835	0	0	For

Showing the 25 largest of 1,147 asset managers. See all 1,147 in the interactive database.

2. To approve, on a non-binding advisory basis, the compensation that may be paid or become payable to the named executive officers of Norfolk Southern in connection with the transactions contemplated by the merger agreement.

COMPENSATIONMajority of the votes cast: yes

Meeting held 2025-11-14.

Combines 28 wordings of this item as funds reported it.

93% Majority: yes · of votes cast

FOR 93%

FOR: 152,680,836AGAINST: 11,189,077

Norfolk Southern Corporation’s own tally for this item (“Proposal 2: The Merger-Related Compensation Proposal Shareholders approved, on a non-binding advisory basis, the compensation that may be paid or become payable to the named executive officers of Norfolk Southern in conn”): 152,680,836 for, 11,189,077 against, per its Form 8-K filed 2025-11-17 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 224,594,001 outstanding shares: 68% for, 5% against (73% of the company cast a for/against vote).

The 1,109 asset managers below cast 96% of the shares they voted on this item FOR (143,600,114 for, 5,277,869 against).

FOR 96%

FOR: 143,600,114 (96.4%)AGAINST: 5,277,869 (3.5%)ABSTAIN: 69,884 (0.0%)NOT VOTED: 12,769 (0.0%)UNKNOWN: 4,600 (0.0%)DID NOT VOTE: 357 (0.0%)

Largest asset managers voting on “To approve, on a non-binding advisory basis, the compensation that may be paid or become payable to the named ” at Norfolk Southern Corporation, 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	21,980,384	14,957	2	For
Dodge & Cox	18,530,224	0	0	For
BlackRock	9,997,938	1,317	0	For
Fidelity	9,125,197	0	0	For
T. Rowe Price	5,806,625	0	0	For
State Street	5,534,290	11,392	0	For
GEODE CAPITAL MANAGEMENT, LLC	4,839,228	0	0	For
Invesco	4,009,018	0	0	For
American Century	2,580,157	987,690	0	For
Capital Group	3,512,553	0	0	For
Charles Schwab	2,917,245	0	0	For
Northern Trust	2,507,635	0	0	For
LONDON CO OF VIRGINIA	1,718,644	0	0	For
Citadel	1,587,652	0	0	For
Dimensional	1,568,307	0	0	For
OAK RIDGE INVESTMENTS LLC	1,356,551	0	0	For
Pentwater Capital Management LP	1,356,551	0	0	For
Ancora Advisors LLC	1,293,524	0	0	For
Third Point	1,283,947	0	0	For
Legal & General Investment Management Ltd	39,247	1,181,778	0	Against
Amundi	3,092	1,148,509	0	Against
PRIMECAP MANAGEMENT CO/CA/	1,132,583	0	0	For
Goldman Sachs	1,089,361	0	0	For
MELLON INVESTMENTS Corp	1,075,349	0	0	For
Global X	1,074,930	0	0	For

Showing the 25 largest of 1,109 asset managers. See all 1,109 in the interactive database.

3. To adjourn the Norfolk Southern special meeting from time to time, if necessary or appropriate, to solicit additional proxies in the event there are not sufficient votes at the time of the Norfolk Southern special meeting to approve the merger agreement proposal.

EXTRAORDINARY TRANSACTIONS

Meeting held 2025-11-14.

Combines 4 wordings of this item as funds reported it.

93% fund support · no official result

FOR 93%

The 178 asset managers below cast 93% of the shares they voted on this item FOR (50,695,330 for, 3,749,095 against).

FOR: 50,695,330 (93.1%)AGAINST: 3,749,095 (6.9%)ABSTAIN: 4,739 (0.0%)NOT VOTED: 173 (0.0%)

Largest asset managers voting on “To adjourn the Norfolk Southern special meeting from time to time, if necessary or appropriate, to solicit add” at Norfolk Southern Corporation, 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	19,652,003	29	1	For
Dodge & Cox	8,333,700	0	0	For
Fidelity	6,097,767	0	0	For
BlackRock	2,172,238	0	0	For
State Street	5,268	1,912,682	0	Against
Capital Group	1,720,813	0	0	For
American Century	1,574,499	0	0	For
T. Rowe Price	0	1,454,044	0	Against
Invesco	1,421,354	0	0	For
Charles Schwab	1,403,891	0	0	For
Dimensional	1,247,301	0	0	For
Global X	1,071,415	0	0	For
TIAA	442,345	0	0	For
MASTER INVESTMENT PORTFOLIO	341,545	0	0	For
Jackson National	188,284	143,767	0	For
Columbia Threadneedle	298,268	0	0	For
Cohen & Steers	297,871	0	0	For
WisdomTree	291,672	0	0	For
AMERICAN BEACON FUNDS	233,517	0	0	For
Calamos	217,288	0	0	For
Northern Trust	208,910	0	0	For
First Trust	208,900	0	0	For
Equitable	175,475	0	0	For
REAVES UTILITY INCOME FUND	163,700	0	0	For
Franklin Custodian Funds	150,000	0	0	For

Showing the 25 largest of 178 asset managers. See all 178 in the interactive database.

4. To approve the Agreement and Plan of Merger, dated as of July 28, 2025, as it may be amended from time to time, by and among Norfolk Southern, Union Pacific Corporation, Ruby Merger Sub 1 Corporation and Ruby Merger Sub 2 LLC (the "merger agreement" and such proposal, the "merger agreement proposal").

EXTRAORDINARY TRANSACTIONSMajority of the votes cast: yes

Meeting held 2025-11-14.

Combines 10 wordings of this item as funds reported it.

99% Majority: yes · of votes cast

FOR 99%

FOR: 162,191,626AGAINST: 2,366,923

Norfolk Southern Corporation’s own tally for this item (“Proposal 1: The Merger Agreement Proposal Shareholders approved the Agreement and Plan of Merger entered into by and among Norfolk Southern, Union Pacific and two wholly owned subsidiaries of Union Pacific on July 28, 20”): 162,191,626 for, 2,366,923 against, per its Form 8-K filed 2025-11-17 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 224,594,001 outstanding shares: 72% for, 1% against (73% of the company cast a for/against vote).

The 176 asset managers below cast 99.9% of the shares they voted on this item FOR (54,513,153 for, 900 against).

FOR 99.9%

FOR: 54,513,153 (100.0%)AGAINST: 900 (0.0%)ABSTAIN: 41 (0.0%)NOT VOTED: 173 (0.0%)

Largest asset managers voting on “To approve the Agreement and Plan of Merger, dated as of July 28, 2025, as it may be amended from time to time” at Norfolk Southern Corporation, 2025-2026
Asset manager	For	Against	Vote
Vanguard	19,652,027	4	For
Dodge & Cox	8,333,700	0	For
Fidelity	6,097,767	0	For
BlackRock	2,172,238	0	For
State Street	1,917,950	0	For
Capital Group	1,720,813	0	For
American Century	1,574,499	0	For
T. Rowe Price	1,454,044	0	For
Invesco	1,421,354	0	For
Charles Schwab	1,403,891	0	For
Dimensional	1,247,301	0	For
Global X	1,071,415	0	For
TIAA	442,345	0	For
MASTER INVESTMENT PORTFOLIO	341,545	0	For
Jackson National	332,051	0	For
Columbia Threadneedle	298,268	0	For
Cohen & Steers	297,871	0	For
WisdomTree	291,672	0	For
AMERICAN BEACON FUNDS	233,517	0	For
Calamos	217,288	0	For
Northern Trust	208,910	0	For
First Trust	208,900	0	For
Equitable	175,475	0	For
REAVES UTILITY INCOME FUND	163,700	0	For
Franklin Custodian Funds	150,000	0	For

Showing the 25 largest of 176 asset managers. See all 176 in the interactive database.

5. Ratification of the appointment of KPMG LLP, independent registered public accounting firm, as Norfolk Southern's independent auditors for the year ending December 31, 2026.

AUDIT-RELATEDMajority of the votes cast: yes

Meeting held 2026-05-07.

Combines 6 wordings of this item as funds reported it.

94% Majority: yes · of votes cast

FOR 94%

FOR: 173,549,280AGAINST: 10,296,435

Norfolk Southern Corporation’s own tally for this item (“Proposal 2: Ratification of Appointment of Independent Registered Public Accounting Firm Shareholders ratified the appointment of KPMG LLP as the Corporation's independent registered public accounting firm for the year e”): 173,549,280 for, 10,296,435 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 224,594,001 outstanding shares: 77% for, 5% against (82% of the company cast a for/against vote).

The 169 asset managers below cast 99.3% of the shares they voted on this item FOR (55,035,318 for, 346,103 against).

FOR 99.3%

FOR: 55,035,318 (99.4%)AGAINST: 346,103 (0.6%)ABSTAIN: 4,429 (0.0%)NOT VOTED: 171 (0.0%)

Largest asset managers voting on “Ratification of the appointment of KPMG LLP, independent registered public accounting firm, as Norfolk Souther” at Norfolk Southern Corporation, 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	19,944,480	15,334	3	For
Dodge & Cox	6,347,300	0	0	For
Fidelity	5,306,775	0	0	For
BlackRock	5,196,583	1,294	0	For
State Street	2,164,801	28	0	For
Capital Group	1,960,952	0	0	For
American Century	1,492,612	0	0	For
Charles Schwab	1,429,793	0	0	For
Invesco	1,428,873	0	0	For
Dimensional	1,276,862	0	0	For
Global X	1,226,923	0	0	For
T. Rowe Price	1,188,533	0	0	For
JPMorgan	876,364	0	0	For
TIAA	429,153	0	0	For
MERGER FUND	408,914	0	0	For
MASTER INVESTMENT PORTFOLIO	342,031	0	0	For
Cohen & Steers	302,184	0	0	For
Jackson National	272,696	0	0	For
Calamos	246,421	0	0	For
Equitable	212,533	0	0	For
Amplify ETF Trust	0	210,962	0	Against
AMERICAN BEACON FUNDS	208,210	0	0	For
Columbia Threadneedle	170,765	0	0	For
Northern Trust	169,940	0	0	For
Lincoln Financial	133,700	0	0	For

Showing the 25 largest of 169 asset managers. See all 169 in the interactive database.

6. Election of Directors: Richard H. Anderson

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2026-05-07.

Combines 7 wordings of this item as funds reported it.

99.0% Majority: yes · of votes cast

FOR 99.0%

FOR: 152,512,632AGAINST: 1,482,330

Norfolk Southern Corporation’s own tally for this item (“Elect Director: Richard H. Anderson”): 152,512,632 for, 1,482,330 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 224,594,001 outstanding shares: 68% for, 0.7% against (69% of the company cast a for/against vote).

The 167 asset managers below cast 99.9% of the shares they voted on this item FOR (55,372,318 for, 5,892 against).

FOR 99.9%

FOR: 55,372,318 (100.0%)AGAINST: 5,892 (0.0%)ABSTAIN: 4,435 (0.0%)NOT VOTED: 171 (0.0%)

Largest asset managers voting on “Election of Directors: Richard H. Anderson” at Norfolk Southern Corporation, 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	19,959,787	21	9	For
Dodge & Cox	6,347,300	0	0	For
Fidelity	5,306,775	0	0	For
BlackRock	5,197,877	0	0	For
State Street	2,164,829	0	0	For
Capital Group	1,960,952	0	0	For
American Century	1,492,612	0	0	For
Charles Schwab	1,429,793	0	0	For
Invesco	1,428,873	0	0	For
Dimensional	1,276,862	0	0	For
Global X	1,221,472	5,451	0	For
T. Rowe Price	1,188,533	0	0	For
JPMorgan	876,364	0	0	For
TIAA	429,153	0	0	For
MERGER FUND	408,914	0	0	For
MASTER INVESTMENT PORTFOLIO	342,031	0	0	For
Cohen & Steers	302,184	0	0	For
Jackson National	272,696	0	0	For
Calamos	246,421	0	0	For
Equitable	212,533	0	0	For
Amplify ETF Trust	210,962	0	0	For
AMERICAN BEACON FUNDS	208,210	0	0	For
Columbia Threadneedle	170,765	0	0	For
Northern Trust	169,940	0	0	For
Lincoln Financial	133,700	0	0	For

Showing the 25 largest of 167 asset managers. See all 167 in the interactive database.

7. Election of Directors: William Clyburn, Jr.

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2026-05-07.

Combines 7 wordings of this item as funds reported it.

99% Majority: yes · of votes cast

FOR 99%

FOR: 152,233,704AGAINST: 1,979,216

Norfolk Southern Corporation’s own tally for this item (“Elect Director: William Clyburn, Jr.”): 152,233,704 for, 1,979,216 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 224,594,001 outstanding shares: 68% for, 0.9% against (69% of the company cast a for/against vote).

The 167 asset managers below cast 99.9% of the shares they voted on this item FOR (55,377,865 for, 348 against).

FOR 99.9%

FOR: 55,377,865 (100.0%)AGAINST: 348 (0.0%)ABSTAIN: 4,432 (0.0%)NOT VOTED: 171 (0.0%)

Largest asset managers voting on “Election of Directors: William Clyburn, Jr.” at Norfolk Southern Corporation, 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	19,959,782	29	6	For
Dodge & Cox	6,347,300	0	0	For
Fidelity	5,306,775	0	0	For
BlackRock	5,197,877	0	0	For
State Street	2,164,829	0	0	For
Capital Group	1,960,952	0	0	For
American Century	1,492,612	0	0	For
Charles Schwab	1,429,793	0	0	For
Invesco	1,428,873	0	0	For
Dimensional	1,276,862	0	0	For
Global X	1,226,923	0	0	For
T. Rowe Price	1,188,533	0	0	For
JPMorgan	876,364	0	0	For
TIAA	429,153	0	0	For
MERGER FUND	408,914	0	0	For
MASTER INVESTMENT PORTFOLIO	342,031	0	0	For
Cohen & Steers	302,184	0	0	For
Jackson National	272,696	0	0	For
Calamos	246,421	0	0	For
Equitable	212,533	0	0	For
Amplify ETF Trust	210,962	0	0	For
AMERICAN BEACON FUNDS	208,210	0	0	For
Columbia Threadneedle	170,765	0	0	For
Northern Trust	169,940	0	0	For
Lincoln Financial	133,700	0	0	For

Showing the 25 largest of 167 asset managers. See all 167 in the interactive database.

8. Election of Directors: Philip S. Davidson

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2026-05-07.

Combines 7 wordings of this item as funds reported it.

99.4% Majority: yes · of votes cast

FOR 99.4%

FOR: 153,435,546AGAINST: 849,468

Norfolk Southern Corporation’s own tally for this item (“Elect Director: Philip S. Davidson”): 153,435,546 for, 849,468 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 224,594,001 outstanding shares: 68% for, 0.4% against (69% of the company cast a for/against vote).

The 167 asset managers below cast 99.9% of the shares they voted on this item FOR (55,378,202 for, 11 against).

FOR 99.9%

FOR: 55,378,202 (100.0%)AGAINST: 11 (0.0%)ABSTAIN: 4,431 (0.0%)NOT VOTED: 171 (0.0%)

Largest asset managers voting on “Election of Directors: Philip S. Davidson” at Norfolk Southern Corporation, 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	19,959,800	11	5	For
Dodge & Cox	6,347,300	0	0	For
Fidelity	5,306,775	0	0	For
BlackRock	5,197,877	0	0	For
State Street	2,164,829	0	0	For
Capital Group	1,960,952	0	0	For
American Century	1,492,612	0	0	For
Charles Schwab	1,429,793	0	0	For
Invesco	1,428,873	0	0	For
Dimensional	1,276,862	0	0	For
Global X	1,226,923	0	0	For
T. Rowe Price	1,188,533	0	0	For
JPMorgan	876,364	0	0	For
TIAA	429,153	0	0	For
MERGER FUND	408,914	0	0	For
MASTER INVESTMENT PORTFOLIO	342,031	0	0	For
Cohen & Steers	302,184	0	0	For
Jackson National	272,696	0	0	For
Calamos	246,421	0	0	For
Equitable	212,533	0	0	For
Amplify ETF Trust	210,962	0	0	For
AMERICAN BEACON FUNDS	208,210	0	0	For
Columbia Threadneedle	170,765	0	0	For
Northern Trust	169,940	0	0	For
Lincoln Financial	133,700	0	0	For

Showing the 25 largest of 167 asset managers. See all 167 in the interactive database.

9. Election of Directors: Francesca A. DeBiase

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2026-05-07.

Combines 8 wordings of this item as funds reported it.

99% Majority: yes · of votes cast

FOR 99%

FOR: 152,004,541AGAINST: 2,298,676

Norfolk Southern Corporation’s own tally for this item (“Elect Director: Francesca A. DeBiase”): 152,004,541 for, 2,298,676 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 224,594,001 outstanding shares: 68% for, 1% against (69% of the company cast a for/against vote).

The 167 asset managers below cast 99.9% of the shares they voted on this item FOR (55,368,010 for, 10,205 against).

FOR 99.9%

FOR: 55,368,010 (100.0%)AGAINST: 10,205 (0.0%)ABSTAIN: 4,431 (0.0%)NOT VOTED: 171 (0.0%)

Largest asset managers voting on “Election of Directors: Francesca A. DeBiase” at Norfolk Southern Corporation, 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	19,959,779	34	5	For
Dodge & Cox	6,347,300	0	0	For
Fidelity	5,306,775	0	0	For
BlackRock	5,196,583	1,294	0	For
State Street	2,164,829	0	0	For
Capital Group	1,960,952	0	0	For
American Century	1,492,612	0	0	For
Charles Schwab	1,429,793	0	0	For
Invesco	1,428,873	0	0	For
Dimensional	1,276,862	0	0	For
Global X	1,226,923	0	0	For
T. Rowe Price	1,188,533	0	0	For
JPMorgan	876,364	0	0	For
TIAA	429,153	0	0	For
MERGER FUND	408,914	0	0	For
MASTER INVESTMENT PORTFOLIO	342,031	0	0	For
Cohen & Steers	302,184	0	0	For
Jackson National	272,696	0	0	For
Calamos	246,421	0	0	For
Equitable	212,533	0	0	For
Amplify ETF Trust	210,962	0	0	For
AMERICAN BEACON FUNDS	208,210	0	0	For
Columbia Threadneedle	170,765	0	0	For
Northern Trust	169,940	0	0	For
Lincoln Financial	133,700	0	0	For

Showing the 25 largest of 167 asset managers. See all 167 in the interactive database.

10. Election of Directors: Marcela E. Donadio

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2026-05-07.

Combines 7 wordings of this item as funds reported it.

98% Majority: yes · of votes cast

FOR 98%

FOR: 151,629,036AGAINST: 2,673,402

Norfolk Southern Corporation’s own tally for this item (“Elect Director: Marcela E. Donadio”): 151,629,036 for, 2,673,402 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 224,594,001 outstanding shares: 68% for, 1% against (69% of the company cast a for/against vote).

The 167 asset managers below cast 99.6% of the shares they voted on this item FOR (55,160,747 for, 217,467 against).

FOR 99.5%

FOR: 55,160,747 (99.6%)AGAINST: 217,467 (0.4%)ABSTAIN: 4,430 (0.0%)NOT VOTED: 171 (0.0%)

Largest asset managers voting on “Election of Directors: Marcela E. Donadio” at Norfolk Southern Corporation, 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	19,959,772	40	4	For
Dodge & Cox	6,347,300	0	0	For
Fidelity	5,306,775	0	0	For
BlackRock	5,197,877	0	0	For
State Street	2,164,829	0	0	For
Capital Group	1,960,952	0	0	For
American Century	1,492,612	0	0	For
Charles Schwab	1,429,793	0	0	For
Invesco	1,428,873	0	0	For
Dimensional	1,276,862	0	0	For
Global X	1,226,923	0	0	For
T. Rowe Price	1,188,533	0	0	For
JPMorgan	876,364	0	0	For
TIAA	429,153	0	0	For
MERGER FUND	408,914	0	0	For
MASTER INVESTMENT PORTFOLIO	342,031	0	0	For
Cohen & Steers	302,184	0	0	For
Jackson National	272,696	0	0	For
Calamos	246,421	0	0	For
Equitable	212,533	0	0	For
Amplify ETF Trust	0	210,962	0	Against
AMERICAN BEACON FUNDS	208,210	0	0	For
Columbia Threadneedle	170,765	0	0	For
Northern Trust	169,940	0	0	For
Lincoln Financial	133,700	0	0	For

Showing the 25 largest of 167 asset managers. See all 167 in the interactive database.

11. Election of Directors: Sameh Fahmy

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2026-05-07.

Combines 6 wordings of this item as funds reported it.

99% Majority: yes · of votes cast

FOR 99%

FOR: 152,607,463AGAINST: 1,676,013

Norfolk Southern Corporation’s own tally for this item (“Elect Director: Sameh Fahmy”): 152,607,463 for, 1,676,013 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 224,594,001 outstanding shares: 68% for, 0.8% against (69% of the company cast a for/against vote).

The 167 asset managers below cast 99.9% of the shares they voted on this item FOR (55,378,190 for, 25 against).

FOR 99.9%

FOR: 55,378,190 (100.0%)AGAINST: 25 (0.0%)ABSTAIN: 4,431 (0.0%)NOT VOTED: 171 (0.0%)

Largest asset managers voting on “Election of Directors: Sameh Fahmy” at Norfolk Southern Corporation, 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	19,959,788	25	5	For
Dodge & Cox	6,347,300	0	0	For
Fidelity	5,306,775	0	0	For
BlackRock	5,197,877	0	0	For
State Street	2,164,829	0	0	For
Capital Group	1,960,952	0	0	For
American Century	1,492,612	0	0	For
Charles Schwab	1,429,793	0	0	For
Invesco	1,428,873	0	0	For
Dimensional	1,276,862	0	0	For
Global X	1,226,923	0	0	For
T. Rowe Price	1,188,533	0	0	For
JPMorgan	876,364	0	0	For
TIAA	429,153	0	0	For
MERGER FUND	408,914	0	0	For
MASTER INVESTMENT PORTFOLIO	342,031	0	0	For
Cohen & Steers	302,184	0	0	For
Jackson National	272,696	0	0	For
Calamos	246,421	0	0	For
Equitable	212,533	0	0	For
Amplify ETF Trust	210,962	0	0	For
AMERICAN BEACON FUNDS	208,210	0	0	For
Columbia Threadneedle	170,765	0	0	For
Northern Trust	169,940	0	0	For
Lincoln Financial	133,700	0	0	For

Showing the 25 largest of 167 asset managers. See all 167 in the interactive database.

12. Election of Directors: Mark R. George

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2026-05-07.

Combines 7 wordings of this item as funds reported it.

99.4% Majority: yes · of votes cast

FOR 99.4%

FOR: 153,449,212AGAINST: 856,767

Norfolk Southern Corporation’s own tally for this item (“Elect Director: Mark R. George”): 153,449,212 for, 856,767 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 224,594,001 outstanding shares: 68% for, 0.4% against (69% of the company cast a for/against vote).

The 167 asset managers below cast 99.9% of the shares they voted on this item FOR (55,378,202 for, 12 against).

FOR 99.9%

FOR: 55,378,202 (100.0%)AGAINST: 12 (0.0%)ABSTAIN: 4,431 (0.0%)NOT VOTED: 171 (0.0%)

Largest asset managers voting on “Election of Directors: Mark R. George” at Norfolk Southern Corporation, 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	19,959,800	12	5	For
Dodge & Cox	6,347,300	0	0	For
Fidelity	5,306,775	0	0	For
BlackRock	5,197,877	0	0	For
State Street	2,164,829	0	0	For
Capital Group	1,960,952	0	0	For
American Century	1,492,612	0	0	For
Charles Schwab	1,429,793	0	0	For
Invesco	1,428,873	0	0	For
Dimensional	1,276,862	0	0	For
Global X	1,226,923	0	0	For
T. Rowe Price	1,188,533	0	0	For
JPMorgan	876,364	0	0	For
TIAA	429,153	0	0	For
MERGER FUND	408,914	0	0	For
MASTER INVESTMENT PORTFOLIO	342,031	0	0	For
Cohen & Steers	302,184	0	0	For
Jackson National	272,696	0	0	For
Calamos	246,421	0	0	For
Equitable	212,533	0	0	For
Amplify ETF Trust	210,962	0	0	For
AMERICAN BEACON FUNDS	208,210	0	0	For
Columbia Threadneedle	170,765	0	0	For
Northern Trust	169,940	0	0	For
Lincoln Financial	133,700	0	0	For

Showing the 25 largest of 167 asset managers. See all 167 in the interactive database.

13. Election of Directors: Mary K. Heitkamp

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2026-05-07.

Combines 8 wordings of this item as funds reported it.

99% Majority: yes · of votes cast

FOR 99%

FOR: 152,207,108AGAINST: 2,012,797

Norfolk Southern Corporation’s own tally for this item (“Elect Director: Mary K. Heitkamp”): 152,207,108 for, 2,012,797 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 224,594,001 outstanding shares: 68% for, 0.9% against (69% of the company cast a for/against vote).

The 167 asset managers below cast 99.9% of the shares they voted on this item FOR (55,377,865 for, 348 against).

FOR 99.9%

FOR: 55,377,865 (100.0%)AGAINST: 348 (0.0%)ABSTAIN: 4,431 (0.0%)NOT VOTED: 171 (0.0%)

Largest asset managers voting on “Election of Directors: Mary K. Heitkamp” at Norfolk Southern Corporation, 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	19,959,782	29	5	For
Dodge & Cox	6,347,300	0	0	For
Fidelity	5,306,775	0	0	For
BlackRock	5,197,877	0	0	For
State Street	2,164,829	0	0	For
Capital Group	1,960,952	0	0	For
American Century	1,492,612	0	0	For
Charles Schwab	1,429,793	0	0	For
Invesco	1,428,873	0	0	For
Dimensional	1,276,862	0	0	For
Global X	1,226,923	0	0	For
T. Rowe Price	1,188,533	0	0	For
JPMorgan	876,364	0	0	For
TIAA	429,153	0	0	For
MERGER FUND	408,914	0	0	For
MASTER INVESTMENT PORTFOLIO	342,031	0	0	For
Cohen & Steers	302,184	0	0	For
Jackson National	272,696	0	0	For
Calamos	246,421	0	0	For
Equitable	212,533	0	0	For
Amplify ETF Trust	210,962	0	0	For
AMERICAN BEACON FUNDS	208,210	0	0	For
Columbia Threadneedle	170,765	0	0	For
Northern Trust	169,940	0	0	For
Lincoln Financial	133,700	0	0	For

Showing the 25 largest of 167 asset managers. See all 167 in the interactive database.

14. Election of Directors: John C. Huffard, Jr.

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2026-05-07.

Combines 7 wordings of this item as funds reported it.

96% Majority: yes · of votes cast

FOR 96%

FOR: 148,653,437AGAINST: 5,622,830

Norfolk Southern Corporation’s own tally for this item (“Elect Director: John C. Huffard, Jr.”): 148,653,437 for, 5,622,830 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 224,594,001 outstanding shares: 66% for, 3% against (69% of the company cast a for/against vote).

The 167 asset managers below cast 99.9% of the shares they voted on this item FOR (55,377,810 for, 405 against).

FOR 99.9%

FOR: 55,377,810 (100.0%)AGAINST: 405 (0.0%)ABSTAIN: 4,431 (0.0%)NOT VOTED: 171 (0.0%)

Largest asset managers voting on “Election of Directors: John C. Huffard, Jr.” at Norfolk Southern Corporation, 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	19,959,727	86	5	For
Dodge & Cox	6,347,300	0	0	For
Fidelity	5,306,775	0	0	For
BlackRock	5,197,877	0	0	For
State Street	2,164,829	0	0	For
Capital Group	1,960,952	0	0	For
American Century	1,492,612	0	0	For
Charles Schwab	1,429,793	0	0	For
Invesco	1,428,873	0	0	For
Dimensional	1,276,862	0	0	For
Global X	1,226,923	0	0	For
T. Rowe Price	1,188,533	0	0	For
JPMorgan	876,364	0	0	For
TIAA	429,153	0	0	For
MERGER FUND	408,914	0	0	For
MASTER INVESTMENT PORTFOLIO	342,031	0	0	For
Cohen & Steers	302,184	0	0	For
Jackson National	272,696	0	0	For
Calamos	246,421	0	0	For
Equitable	212,533	0	0	For
Amplify ETF Trust	210,962	0	0	For
AMERICAN BEACON FUNDS	208,210	0	0	For
Columbia Threadneedle	170,765	0	0	For
Northern Trust	169,940	0	0	For
Lincoln Financial	133,700	0	0	For

Showing the 25 largest of 167 asset managers. See all 167 in the interactive database.

15. Election of Directors: Christopher T. Jones

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2026-05-07.

Combines 7 wordings of this item as funds reported it.

99.4% Majority: yes · of votes cast

FOR 99.4%

FOR: 153,454,635AGAINST: 805,321

Norfolk Southern Corporation’s own tally for this item (“Elect Director: Christopher T. Jones”): 153,454,635 for, 805,321 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 224,594,001 outstanding shares: 68% for, 0.4% against (69% of the company cast a for/against vote).

The 167 asset managers below cast 99.9% of the shares they voted on this item FOR (55,378,202 for, 11 against).

FOR 99.9%

FOR: 55,378,202 (100.0%)AGAINST: 11 (0.0%)ABSTAIN: 4,431 (0.0%)NOT VOTED: 171 (0.0%)

Largest asset managers voting on “Election of Directors: Christopher T. Jones” at Norfolk Southern Corporation, 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	19,959,800	11	5	For
Dodge & Cox	6,347,300	0	0	For
Fidelity	5,306,775	0	0	For
BlackRock	5,197,877	0	0	For
State Street	2,164,829	0	0	For
Capital Group	1,960,952	0	0	For
American Century	1,492,612	0	0	For
Charles Schwab	1,429,793	0	0	For
Invesco	1,428,873	0	0	For
Dimensional	1,276,862	0	0	For
Global X	1,226,923	0	0	For
T. Rowe Price	1,188,533	0	0	For
JPMorgan	876,364	0	0	For
TIAA	429,153	0	0	For
MERGER FUND	408,914	0	0	For
MASTER INVESTMENT PORTFOLIO	342,031	0	0	For
Cohen & Steers	302,184	0	0	For
Jackson National	272,696	0	0	For
Calamos	246,421	0	0	For
Equitable	212,533	0	0	For
Amplify ETF Trust	210,962	0	0	For
AMERICAN BEACON FUNDS	208,210	0	0	For
Columbia Threadneedle	170,765	0	0	For
Northern Trust	169,940	0	0	For
Lincoln Financial	133,700	0	0	For

Showing the 25 largest of 167 asset managers. See all 167 in the interactive database.

16. Election of Directors: Gilbert H. Lamphere

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2026-05-07.

Combines 7 wordings of this item as funds reported it.

99.1% Majority: yes · of votes cast

FOR 99.1%

FOR: 152,909,098AGAINST: 1,380,458

Norfolk Southern Corporation’s own tally for this item (“Elect Director: Gilbert H. Lamphere”): 152,909,098 for, 1,380,458 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 224,594,001 outstanding shares: 68% for, 0.7% against (69% of the company cast a for/against vote).

The 167 asset managers below cast 99.9% of the shares they voted on this item FOR (55,378,194 for, 20 against).

FOR 99.9%

FOR: 55,378,194 (100.0%)AGAINST: 20 (0.0%)ABSTAIN: 4,431 (0.0%)NOT VOTED: 171 (0.0%)

Largest asset managers voting on “Election of Directors: Gilbert H. Lamphere” at Norfolk Southern Corporation, 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	19,959,792	20	5	For
Dodge & Cox	6,347,300	0	0	For
Fidelity	5,306,775	0	0	For
BlackRock	5,197,877	0	0	For
State Street	2,164,829	0	0	For
Capital Group	1,960,952	0	0	For
American Century	1,492,612	0	0	For
Charles Schwab	1,429,793	0	0	For
Invesco	1,428,873	0	0	For
Dimensional	1,276,862	0	0	For
Global X	1,226,923	0	0	For
T. Rowe Price	1,188,533	0	0	For
JPMorgan	876,364	0	0	For
TIAA	429,153	0	0	For
MERGER FUND	408,914	0	0	For
MASTER INVESTMENT PORTFOLIO	342,031	0	0	For
Cohen & Steers	302,184	0	0	For
Jackson National	272,696	0	0	For
Calamos	246,421	0	0	For
Equitable	212,533	0	0	For
Amplify ETF Trust	210,962	0	0	For
AMERICAN BEACON FUNDS	208,210	0	0	For
Columbia Threadneedle	170,765	0	0	For
Northern Trust	169,940	0	0	For
Lincoln Financial	133,700	0	0	For

Showing the 25 largest of 167 asset managers. See all 167 in the interactive database.

17. Election of Directors: Lori J. Ryerkerk

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2026-05-07.

Combines 7 wordings of this item as funds reported it.

99% Majority: yes · of votes cast

FOR 99%

FOR: 152,274,397AGAINST: 1,924,124

Norfolk Southern Corporation’s own tally for this item (“Elect Director: Lori J. Ryerkerk”): 152,274,397 for, 1,924,124 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 224,594,001 outstanding shares: 68% for, 0.9% against (69% of the company cast a for/against vote).

The 167 asset managers below cast 99.9% of the shares they voted on this item FOR (55,377,865 for, 347 against).

FOR 99.9%

FOR: 55,377,865 (100.0%)AGAINST: 347 (0.0%)ABSTAIN: 4,432 (0.0%)NOT VOTED: 171 (0.0%)

Largest asset managers voting on “Election of Directors: Lori J. Ryerkerk” at Norfolk Southern Corporation, 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	19,959,782	28	6	For
Dodge & Cox	6,347,300	0	0	For
Fidelity	5,306,775	0	0	For
BlackRock	5,197,877	0	0	For
State Street	2,164,829	0	0	For
Capital Group	1,960,952	0	0	For
American Century	1,492,612	0	0	For
Charles Schwab	1,429,793	0	0	For
Invesco	1,428,873	0	0	For
Dimensional	1,276,862	0	0	For
Global X	1,226,923	0	0	For
T. Rowe Price	1,188,533	0	0	For
JPMorgan	876,364	0	0	For
TIAA	429,153	0	0	For
MERGER FUND	408,914	0	0	For
MASTER INVESTMENT PORTFOLIO	342,031	0	0	For
Cohen & Steers	302,184	0	0	For
Jackson National	272,696	0	0	For
Calamos	246,421	0	0	For
Equitable	212,533	0	0	For
Amplify ETF Trust	210,962	0	0	For
AMERICAN BEACON FUNDS	208,210	0	0	For
Columbia Threadneedle	170,765	0	0	For
Northern Trust	169,940	0	0	For
Lincoln Financial	133,700	0	0	For

Showing the 25 largest of 167 asset managers. See all 167 in the interactive database.

18. Advisory Vote to Ratify Named Executive Officers' Compensation

SECTION 14A SAY-ON-PAY VOTESMajority of the votes cast: yes

Meeting held 2026-05-07.

94% Majority: yes · of votes cast

FOR 94%

FOR: 145,144,991AGAINST: 8,525,943

The 31 asset managers below cast 55% of the shares they voted on this item FOR (1,072,351 for, 873,696 against).

FOR 55%AGAINST 45%

FOR: 1,072,351 (55.1%)AGAINST: 873,696 (44.9%)

Largest asset managers voting on “Advisory Vote to Ratify Named Executive Officers' Compensation” at Norfolk Southern Corporation, 2025-2026
Asset manager	For	Against	Vote
Union Investment Management GmbH	0	792,520	Against
HBK INVESTMENTS L P	730,624	0	For
Cardano Risk Management B.V.	0	80,225	Against
Lincoln Financial	75,006	0	For
Ghisallo Capital Management LLC	52,000	0	For
Rokos Capital Management LLP	41,759	0	For
Birnam Oak Advisors, LP	36,705	0	For
Empower	36,705	0	For
Ausbil Investment Management Ltd	32,825	0	For
NORDEA INVESTMENT MANAGEMENT AB	22,641	0	For
TD Waterhouse Canada Inc.	11,814	0	For
WHITENER CAPITAL MANAGEMENT, INC.	6,417	0	For
Hanson & Doremus Investment Management	5,616	0	For
Metzler Asset Management GmbH	4,586	0	For
Douglass Winthrop Advisors, LLC	3,000	0	For
CLEARWATER INVESTMENT TRUST	2,926	0	For
WASHINGTON CAPITAL MANAGEMENT, INC	1,455	870	For
Westbourne Investment Advisors, Inc.	2,022	0	For
TOBAM	1,204	0	For
Moment Partners, LLC	1,102	0	For
Multi-Select Securities Fund for Puerto Rico Residents	953	0	For
Empirical Financial Services, LLC d.b.a. Empirical Wealth Ma	906	0	For
Edgemoor Investment Advisors, Inc.	820	0	For
ARS Investment Partners, LLC	515	0	For
Sepio Capital, LP	340	0	For

Showing the 25 largest of 31 asset managers. See all 31 in the interactive database.

19. Advisory Vote on Golden Parachutes

SECTION 14A SAY-ON-PAY VOTES

Meeting held 2025-11-14.

73% fund support · no official result

FOR 73%AGAINST 27%

The 31 asset managers below cast 73% of the shares they voted on this item FOR (3,727,468 for, 1,368,584 against).

FOR: 3,727,468 (73.1%)AGAINST: 1,368,584 (26.9%)

Largest asset managers voting on “Advisory Vote on Golden Parachutes” at Norfolk Southern Corporation, 2025-2026
Asset manager	For	Against	Vote
JPMorgan	2,460,861	0	For
HBK INVESTMENTS L P	873,374	0	For
Union Investment Management GmbH	0	860,661	Against
APG Asset Management US Inc.	0	497,654	Against
Lincoln Financial	81,115	9,909	For
Cardano Risk Management B.V.	76,257	0	For
Rokos Capital Management LLP	49,154	0	For
Birnam Oak Advisors, LP	42,986	0	For
Empower	36,705	0	For
Ausbil Investment Management Ltd	34,869	0	For
NORDEA INVESTMENT MANAGEMENT AB	21,689	0	For
TD Waterhouse Canada Inc.	10,432	0	For
Douglass Winthrop Advisors, LLC	7,500	0	For
HC CAPITAL TRUST	5,345	0	For
OSSIAM	5,219	0	For
Metzler Asset Management GmbH	4,586	0	For
Hanson & Doremus Investment Management	4,093	0	For
WASHINGTON CAPITAL MANAGEMENT, INC	3,825	0	For
NORTHERN LIGHTS FUND TRUST II	3,700	0	For
CLEARWATER INVESTMENT TRUST	3,077	0	For
Multi-Select Securities Fund for Puerto Rico Residents	953	0	For
Sepio Capital, LP	544	0	For
ARS Investment Partners, LLC	515	0	For
Convergence Investment Partners, LLC	310	0	For
Impact Investors, Inc	0	259	Against

Showing the 25 largest of 31 asset managers. See all 31 in the interactive database.

20. Approve Merger Agreement

EXTRAORDINARY TRANSACTIONS

Meeting held 2025-11-14.

100% fund support · no official result

FOR 100%

The 9 asset managers below cast 100% of the shares they voted on this item FOR (2,590,906 for, 0 against).

FOR: 2,590,906 (100.0%)

Largest asset managers voting on “Approve Merger Agreement” at Norfolk Southern Corporation, 2025-2026
Asset manager	For	Vote
JPMorgan	2,449,849	For
Lincoln Financial	91,024	For
Empower	36,705	For
HC CAPITAL TRUST	5,345	For
NORTHERN LIGHTS FUND TRUST II	3,700	For
CLEARWATER INVESTMENT TRUST	3,077	For
Multi-Select Securities Fund for Puerto Rico Residents	953	For
NORTHERN LIGHTS FUND TRUST III	253	For
ESL Trust Services, LLC	0	--

21. Adjourn Meeting

CORPORATE GOVERNANCE

Meeting held 2025-11-14.

100% fund support · no official result

FOR 100%

The 8 asset managers below cast 100% of the shares they voted on this item FOR (2,590,906 for, 0 against).

FOR: 2,590,906 (100.0%)

Largest asset managers voting on “Adjourn Meeting” at Norfolk Southern Corporation, 2025-2026
Asset manager	For	Vote
JPMorgan	2,449,849	For
Lincoln Financial	91,024	For
Empower	36,705	For
HC CAPITAL TRUST	5,345	For
NORTHERN LIGHTS FUND TRUST II	3,700	For
CLEARWATER INVESTMENT TRUST	3,077	For
Multi-Select Securities Fund for Puerto Rico Residents	953	For
NORTHERN LIGHTS FUND TRUST III	253	For

22. Approval of the advisory resolution on executive compensation, as disclosed in the proxy statement for the 2025 Annual Meeting of Shareholders.

SECTION 14A SAY-ON-PAY VOTESMajority of the votes cast: yes

Meeting held 2025-05-08 (outside the 2025-2026 season's 1 July to 30 June window; reported in this season's filings).

Combines 4 wordings of this item as funds reported it.

95% Majority: yes · of votes cast

FOR 95%

FOR: 164,352,835AGAINST: 8,166,851

Norfolk Southern Corporation’s own tally for this item (“Proposal 3: Advisory Resolution on Executive Compensation ("Say on Pay") Shareholders approved, on an advisory basis, the resolution on executive compensation, as disclosed in the proxy statement for the 2025 Annual Meet”): 164,352,835 for, 8,166,851 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 224,594,001 outstanding shares: 73% for, 4% against (77% of the company cast a for/against vote).

The 6 asset managers below cast 98% of the shares they voted on this item FOR (23,609 for, 525 against).

FOR 98%

FOR: 23,609 (97.8%)AGAINST: 525 (2.2%)

Largest asset managers voting on “Approval of the advisory resolution on executive compensation, as disclosed in the proxy statement for the 202” at Norfolk Southern Corporation, 2025-2026
Asset manager	For	Against	Vote
ST. NICHOLAS PRIVATE ASSET MANAGEMENT, INC	10,510	0	For
Investment Management Corp of Ontario	9,779	0	For
NORRIS PERNE & FRENCH LLP/MI	2,525	0	For
OSSIAM	0	525	Against
FIRST UNITED BANK & TRUST	485	0	For
PEDDOCK CAPITAL ADVISORS, LLC	310	0	For

23. TO APPROVE THE AGREEMENT AND PLAN OF MERGER, DATED AS OF JULY 28, 2025, AS IT MAY BE AMENDED FROM TIME TO TIME, BY AND AMONG NORFOLK SOUTHERN, UNION PACIFIC CORPORATION, RUBY MERGER SUB 1 CORPORATION AND RUBY MERGER SUB 2 LLC (THE MERGER AGREEMENT&QUOT AND SUCH PROPOSAL, THE &QUOTMERGER AGREEMENT PROPOSAL&QUOT). &QUOT

EXTRAORDINARY TRANSACTIONSMajority of the votes cast: yes

Meeting held 2025-11-14.

99% Majority: yes · of votes cast

FOR 99%

FOR: 162,191,626AGAINST: 2,366,923

The 6 asset managers below cast 100% of the shares they voted on this item FOR (22,086 for, 0 against).

FOR 100%

FOR: 22,086 (100.0%)

Largest asset managers voting on “TO APPROVE THE AGREEMENT AND PLAN OF MERGER, DATED AS OF JULY 28, 2025, AS IT MAY BE AMENDED FROM TIME TO TIME” at Norfolk Southern Corporation, 2025-2026
Asset manager	For	Vote
TIMOTHY PLAN	16,356	For
RBB Fund Trust	2,377	For
apricus wealth, LLC	2,060	For
Advisors' Inner Circle Fund III	1,104	For
Legacy Capital Wealth Partners, LLC	136	For
KKM Financial LLC	53	For

24. Election of Directors (Majority Voting)

SECTION 14A SAY-ON-PAY VOTES

Meeting held 2026-05-07.

All nominees (reported as one line). These filers reported the election of directors as a single line covering every nominee. It is not attributed to any one director, and no share total is shown for it.

100% fund support · no official result

FOR 100%

The 2 asset managers below cast 100% of the shares they voted on this item FOR.

FOR: 100.0%

Largest asset managers voting on “Election of Directors (Majority Voting)” at Norfolk Southern Corporation, 2025-2026
Asset manager	For	Against	Abstain	Withheld	Vote
HARBOUR INVESTMENT MANAGEMENT LLC	30,804	0	0	0	For
ESL Trust Services, LLC	638	0	0	0	For

25. COMPENSATION

SECTION 14A SAY-ON-PAY VOTESMajority of the votes cast: yes

Meeting held 2026-05-07.

94% Majority: yes · of votes cast

FOR 94%

FOR: 145,144,991AGAINST: 8,525,943

The 2 asset managers below cast 100% of the shares they voted on this item FOR (1,700 for, 0 against).

FOR 100%

FOR: 1,700 (100.0%)

Largest asset managers voting on “COMPENSATION” at Norfolk Southern Corporation, 2025-2026
Asset manager	For	Against	Abstain	Withheld	Vote
Members Trust Co	1,500	0	0	0	For
Capital Group	200	0	0	0	For

26. Director Elections

DIRECTOR ELECTIONS

Meeting held 2026-05-07.

100% fund support · no official result

FOR 100%

The 2 asset managers below cast 100% of the shares they voted on this item FOR (1,540 for, 0 against).

FOR: 1,540 (100.0%)

Largest asset managers voting on “Director Elections” at Norfolk Southern Corporation, 2025-2026
Asset manager	For	Against	Abstain	Withheld	Vote
Members Trust Co	1,500	0	0	0	For
Ballew Advisors, Inc	40	0	0	0	For

27. To Approve, By An Advisory Vote, The Compensation Of The Company's Named Executives

SECTION 14A SAY-ON-PAY VOTESMajority of the votes cast: yes

Meeting held 2026-05-07.

94% Majority: yes · of votes cast

FOR 94%

FOR: 145,144,991AGAINST: 8,525,943

The 2 asset managers below cast 100% of the shares they voted on this item FOR (82 for, 0 against).

FOR 100%

FOR: 82 (100.0%)

Largest asset managers voting on “To Approve, By An Advisory Vote, The Compensation Of The Company's Named Executives” at Norfolk Southern Corporation, 2025-2026
Asset manager	For	Against	Abstain	Withheld	Vote
Modern Wealth Management, LLC	41	0	0	0	For
Tandem Financial, LLC	41	0	0	0	For

28. COMPENSATION

SECTION 14A SAY-ON-PAY VOTESMajority of the votes cast: yes

Meeting held 2025-11-14.

93% Majority: yes · of votes cast

FOR 93%

FOR: 152,680,836AGAINST: 11,189,077

The 2 asset managers below cast 100% of the shares they voted on this item FOR (2,175 for, 0 against).

FOR 100%

FOR: 2,175 (100.0%)

Largest asset managers voting on “COMPENSATION” at Norfolk Southern Corporation, 2025-2026
Asset manager	For	Against	Abstain	Withheld	Vote
Members Trust Co	1,225	0	0	0	For
Capital Group	950	0	0	0	For

Largest Norfolk Southern Corporation shareholders voting in 2025-2026

Ranked by the number of Norfolk Southern Corporation shares each manager voted on the most widely held ballot item of the 2025-2026 meeting, shown as a share of the 224,594,001 shares outstanding at the time of that meeting.

Top Norfolk Southern Corporation shareholders by shares voted, 2025-2026
#	Asset manager	% of shares outstanding
1	Vanguard	9.96%
2	Dodge & Cox	6.38%
3	BlackRock	5.78%
4	Fidelity	3.10%
5	State Street	2.67%
6	GEODE CAPITAL MANAGEMENT, LLC	2.24%
7	T. Rowe Price	1.96%
8	Capital Group	1.77%
9	American Century	1.51%
10	Invesco	1.43%

Reported Norfolk Southern Corporation ownership

Positions disclosed to the SEC on Schedules 13D and 13G, Form 13F and the company’s own proxy statement (DEF 14A).

Norfolk Southern Corporation beneficial owners on record for the 2025-2026 proxy season
Holder	% outstanding	Disclosure
The Vanguard Group	9.27%	DEF14A
BlackRock, Inc.	6.46%	DEF14A
State Street	4.38%	13F
Millennium Management	2.04%	13F
Citadel Advisors	1.19%	13F
Northern Trust	1.17%	13F
Morgan Stanley	1.17%	13F
D.E. Shaw	1.01%	13F
Dimensional Fund Advisors	1.01%	13F

Percentages above are of 224,594,001 shares outstanding, as reported by Norfolk Southern Corporation on its Form 10-Q dated 2026-03-31 (see the filing on EDGAR). This is the count contemporaneous with the 2025-2026 meeting, so the percentages are the ones that were true then, not ones restated against today’s share count.

About this page

Every figure above is derived from filings made with the US Securities and Exchange Commission: Form N-PX, in which registered investment companies and institutional managers disclose how they voted every proxy, and Form 8-K Item 5.07, in which the company reports its own meeting results. Shares outstanding are taken from Norfolk Southern Corporation’s 10-Q dated 2026-03-31. This page is a static snapshot rebuilt weekly on 02 October 2026; a live search always shows the current data.

At Norfolk Southern Corporation's 2 shareholder meetings in the 2025-2026 proxy season (held 2025-11-14 and 2026-05-07), 1,282 asset managers reported how they voted in their SEC Form N-PX filings, covering 15,080 separate fund positions. Their filings are grouped here into 28 reported items; because filers word the same ballot item differently, that can be more than the number of items on the ballot. On the most widely held item of the season, voted at the meeting held 2026-05-07 — Approval of the advisory resolution on executive compensation, as disclosed in the proxy… — FOR was 94% of the votes cast (FOR divided by FOR plus AGAINST, the conventional basis for proxy support; abstentions, broker non-votes and unvoted shares are excluded because none of them took a side), which is more than half. Whether the item was approved is for the filing to say; that statement has not been read for this item. Source: Norfolk Southern Corporation's Form 8-K, Item 5.07, filed with the U.S. Securities and Exchange Commission (filing date not recorded for this item).

Norfolk Southern Corporation proxy season coverage: 2023-2024 · 2024-2025 · 2025-2026 (this page).