Norfolk Southern Corporation has announced the approval of one-time cash retention awards for its named executive officers as part of a transaction bonus program tied to the company's pending merger with Union Pacific Corporation. The awards, approved by the board's Compensation and Talent Management Committee, will be distributed in three installments: 25% on April 28, 2026, 25% on January 28, 2027, and the remaining 50% upon completion of the merger. Award amounts range from $2 million to $4 million for each executive, including CFO Mark R. George, who will receive $4 million. If an executive is terminated without cause before the merger closes, or if a qualifying termination occurs after closing, the next scheduled installment will vest immediately.