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CSX CORP 8-K Report, Executive Changes (Jan 27, 2025)

Reports
Leadership Changes·Regulation FD·Exhibits & Filings
Filing Date
Filed January 27, 2025
Period End
January 27, 2025
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 · Feb ’18Feb ’18
  2. Leadership change8-K · Jul ’20Jul ’20
  3. Material agreement8-K · Jul ’22Jul ’22
  4. Leadership change8-K · May ’26May ’26

01—Abstract

Summary

Summary of the 8-K filed January 27, 2025. Cited figures are marked; the original filing is the authoritative source.

CSX Corporation announced a significant change to its Board of Directors with the immediate appointment of Ann Begeman.

Ms. Begeman brings extensive experience in surface transportation regulation, having served as Chairman and Acting Chairman of the Surface Transportation Board (STB) and holding key leadership roles within the U.S. Senate, particularly on transportation policy. Her deep understanding of railroad regulatory and government affairs is expected to be a valuable asset to the company. While Ms. Begeman's expertise is notable, investors should be aware that she has been determined to not be an independent director due to her prior consulting work for CSX, for which she was paid $275,000a in fiscal year 2024.

She has been appointed to the Finance Committee. This appointment increases the Board's size to thirteen members. The company has also issued a press release detailing this appointment.

02—Key points

Key Highlights

  1. CSX Corporation appointed Ann Begeman to its Board of Directors, effective immediately.
  2. Ms. Begeman has extensive experience in transportation policy and regulation, including leadership roles at the Surface Transportation Board (STB) and the U.S. Senate.
  3. Her appointment increases the CSX Board size from twelve to thirteen directors.
  4. Ms. Begeman will serve on the Finance Committee.
  5. The Board determined Ms. Begeman is not an independent director due to prior consulting services provided to CSX.
  6. CSX paid Ms. Begeman $275,000 in fiscal year 2024 for consulting services.
  7. The company issued a press release announcing this board appointment.

03—Questions

Frequently Asked Questions

  1. Who is Ann Begeman and why has she been appointed to the CSX Board?

    Ann Begeman has been appointed to the CSX Board of Directors due to her extensive background in surface transportation regulation and government affairs. She previously served as Chairman and Acting Chairman of the Surface Transportation Board (STB) and held significant policy roles in the U.S. Senate. Her expertise is expected to benefit CSX's regulatory and government relations efforts.

  2. Is Ann Begeman considered an independent director?

    No, the CSX Board has determined that Ms. Begeman does not qualify as an independent director. This is due to her recent consulting work for the company, for which she received $275,000 in fiscal year 2024. Her compensation as a director will be consistent with that of other non-employee directors.

  3. What is the impact of this appointment on the Board's size and composition?

    Ms. Begeman's appointment increases the size of the CSX Board of Directors from twelve to thirteen members. She has been appointed to serve on the Finance Committee.

  4. Has CSX provided any further details on this appointment?

    Yes, CSX issued a press release on January 27, 2025, announcing Ms. Begeman's appointment. This press release is included as an exhibit to the 8-K filing.

04—Continue

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