01—Abstract
Summary
Summary of the 8-K filed September 24, 2024. Cited figures are marked; the original filing is the authoritative source.
Norfolk Southern Corporation (NSC) announced a significant leadership change in its finance department, appointing Jason A.
Zampi as its new Executive Vice President, Chief Financial Officer, and Treasurer, effective September 24, 2024. Mr. Zampi, who has been with the company since 2011 and most recently served as Acting CFO, brings a wealth of internal experience across various finance and accounting roles, including Senior Vice President Finance & Treasurer and Vice President of Financial Planning and Analysis. This permanent appointment suggests continuity and a focus on internal talent development for a critical executive position.
Investors can expect Mr. Zampi's compensation package to include a base salary of $600,000,a an annual incentive opportunity of 150% of his base salary, and a long-term incentive award valued at approximately $554,200. These financial arrangements are prorated for 2024, reflecting his transition into the permanent CFO role.
He will also be subject to the Company’s Executive Severance Plan. The filing indicates no conflicts of interest or family relationships relevant to his appointment.
02—Key points
Key Highlights
- Jason A. Zampi appointed as Executive Vice President, Chief Financial Officer, and Treasurer.
- Mr. Zampi has a strong internal track record with Norfolk Southern since 2011.
- He most recently served as Acting Chief Financial Officer and Senior Vice President Finance & Treasurer.
- His annual base salary is set at $600,000.
- He is eligible for an annual incentive opportunity of 150% of his base salary.
- A long-term incentive award with a grant date fair market value of $554,200 was granted.
- Compensation elements are prorated for 2024 based on his tenure in the CFO role.
03—Questions
Frequently Asked Questions
Who has been appointed as the new Chief Financial Officer of Norfolk Southern?
Jason A. Zampi has been appointed as the new Executive Vice President, Chief Financial Officer, and Treasurer of Norfolk Southern Corporation.
What is Jason A. Zampi's background with Norfolk Southern?
Mr. Zampi has been with Norfolk Southern since 2011 and has held various senior finance and accounting positions, including Acting Chief Financial Officer, Senior Vice President Finance & Treasurer, Vice President of Financial Planning and Analysis, and Vice President and Controller.
What is the compensation package for the new CFO?
The new CFO will receive an annual base salary of $600,000, an annual incentive opportunity of 150% of his base salary, and a long-term incentive award valued at approximately $554,200. These will be prorated for 2024. He is also eligible for the Company's Executive Severance Plan.
Are there any conflicts of interest or family relationships associated with this appointment?
The filing states that there are no family relationships between Mr. Zampi and any Company director or executive officer, nor are there any arrangements or understandings with any other person pursuant to which he was selected that require disclosure. He is also not a party to any current or proposed transactions with the Company requiring disclosure.
04—Continue