Skip to content
AnalystLens

CSX CORP 8-K Report, Executive Changes (Feb 21, 2023)

Reports
Leadership Changes
Filing Date
Filed February 21, 2023
Period End
February 15, 2023
Security
CSX
In the record · 2016–202610-K1110-Q328-K137

CSX filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 137 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · May ’17May ’17
  2. Material agreement8-K · Oct ’19Oct ’19
  3. Leadership change8-K · Jan ’22Jan ’22
  4. Leadership change8-K · May ’26May ’26

01—Abstract

Summary

Summary of the 8-K filed February 21, 2023. Cited figures are marked; the original filing is the authoritative source.

CSX Corporation (CSX) filed an 8-K on February 21, 2023, reporting on executive compensation adjustments.

The Compensation and Talent Management Committee reviewed and approved increases to the annual base salary and target annual bonus opportunity for Executive Vice President and Chief Financial Officer, Sean R. Pelkey. These changes, effective February 15, 2023, reflect adjustments based on peer company compensation levels and are intended to align Mr. Pelkey's compensation with market standards.

02—Key points

Key Highlights

  1. CSX Corporation announced executive compensation adjustments via an 8-K filing.
  2. Sean R. Pelkey, EVP and CFO, received an increase in his annual base salary.
  3. Mr. Pelkey's base salary increased from $600,000 to $660,000.
  4. The target annual bonus opportunity for the CFO also saw an increase.
  5. Mr. Pelkey's target bonus opportunity rose from 90% to 100% of his base salary.
  6. These compensation changes were approved by the Compensation and Talent Management Committee on February 15, 2023.
  7. The adjustments were made following a review of peer company compensation levels.

03—Questions

Frequently Asked Questions

  1. What is the main purpose of this 8-K filing?

    The main purpose of this 8-K filing is to disclose material changes to the compensation of a named executive officer, specifically the Executive Vice President and Chief Financial Officer, Sean R. Pelkey.

  2. What specific compensation changes were made for Sean R. Pelkey?

    Sean R. Pelkey's annual base salary was increased from $600,000 to $660,000, and his target annual bonus opportunity was increased from 90% to 100% of his base salary.

  3. Why were these compensation adjustments made?

    The adjustments were made following a review of the Company's annual compensation levels for its named executive officers, including a review of peer company compensation, to align Mr. Pelkey's compensation with market standards.

  4. When were these changes approved and effective?

    The changes were approved by the Compensation and Talent Management Committee on February 15, 2023, and are effective from that date.

04—Continue

← View all 8-K filings