Norfolk Southern Corp. director John C. Huffard Jr. reported an insider ownership change dated June 30, 2026, involving deferred stock units credited under the company’s Directors’ Deferred Fee Plan. The Form 4 was filed July 1, 2026, and was signed by J. Jeremy Ballard under power of attorney for Huffard. The reported action relates to the deferral of quarterly director fees. Under the plan, deferred stock units are credited to the director’s account based on the closing market value of Norfolk Southern common stock on the last trading day of each quarter. Because the transaction was dated June 30, 2026, the credit was tied to the quarter-end valuation date for Norfolk Southern shares. These deferred stock units are derivative securities for reporting purposes, but the filing notes that they will ultimately be settled in cash, not in shares of Norfolk Southern common stock. Payment occurs upon the reporting person’s retirement or at another time elected under the terms of the plan. As a result, the filing does not describe an open-market purchase or sale of NSC common stock by Huffard. The document excerpt does not provide the exact number of deferred stock units credited, the closing stock price used for the calculation, a transaction code, or Huffard’s full post-transaction ownership total. The key reported event is the routine quarterly crediting of cash-settled deferred stock units to a Norfolk Southern director as part of deferred compensation arrangements, rather than a discretionary trading transaction.