8-KLeadership ChangesRegulation FDExhibits & Filings

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

Filed January 27, 2025For Securities:CSX

Summary

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 $275,000 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.

Key Highlights

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

Frequently Asked Questions

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.

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.

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.

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.