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CSX Corp Executive Compensation (FY25)

CSX · Executive and director compensation, fiscal 2023 to 2025

The CSX Corp brief, $1,500

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Data as of September 7, 2026Latest filing (8-K): May 14, 2026
13 filings cited on this page
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CSX Corp brief$1,500Get the executive brief
364 figures on this page: 353 cited to the filing that reported them, 11 calculated from figures it prints. See the citations
Chief executive, fiscal 2025
◇
Stephen Angel
Median of the other named officers
$4,475,697
6 officers, excluding the chief executive
Latest say-on-pay support
=
May 12, 2026
Chief executive pay ratio
◇
To the median employee
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive of record: Joseph Hinrichs → Stephen Angel
CEO pay ratio: 124:1 → 123:1 (0.8% lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is CSX Corp's chief executive and what were they paid?
Total compensation for Stephen Angel, President and Chief Executive Officer, came to $11,711,612 in fiscal 2025.
What was CSX Corp's say-on-pay result?
For fiscal 2025, shareholders backed the say-on-pay proposal with 93.0% of votes cast for or against in favor at the meeting held May 12, 2026.
Which companies are in CSX Corp's peer group?
Companies named in the disclosed peer group include Air Products and Chemicals, Inc., Canadian National Railway Company, Canadian Pacific Kansas City Limited, Dover Corporation and Eaton Corporation, among others.
What is CSX Corp's chief executive pay ratio?
For fiscal 2025, the company reported a chief executive pay ratio of 123:1, against median employee compensation of $122,362.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Joseph Hinrichs
Former President and Chief Executive Officer
◇—◇◇◇—◇◇
Kevin Boone
Executive Vice President and Chief Financial Officer
◇—◇◇◇◇◇◇
Sean Pelkey
Former Executive Vice President and Chief Financial Officer
◇—◇◇◇◇◇◇
Stephen Fortune
Executive Vice President and Chief Digital & Technology Officer
◇—◇◇◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Joseph Hinrichs
Former President and Chief Executive Officer
◇—◇◇◇—◇◇
Michael Cory
Executive Vice President and Chief Operating Officer
◇—◇◇◇—◇◇
Kevin Boone
Executive Vice President and Chief Financial Officer
◇—◇◇◇◇◇◇
Sean Pelkey
Former Executive Vice President and Chief Financial Officer
◇—◇◇◇◇◇◇
Stephen Fortune
Executive Vice President and Chief Digital & Technology Officer
◇—◇◇◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Joseph Hinrichs
Former President and Chief Executive Officer
Departed during or after this year
◇—◇◇◇—◇◇
Stephen Angel
President and Chief Executive Officer
◇—◇◇◇—◇◇
Michael Cory
Executive Vice President and Chief Operating Officer
◇—◇◇◇—◇◇
Kevin Boone
Executive Vice President and Chief Financial Officer
◇—◇◇◇◇◇◇
Sean Pelkey
Former Executive Vice President and Chief Financial Officer
Departed during or after this year
◇—◇◇◇◇◇◇
Stephen Fortune
Executive Vice President and Chief Digital & Technology Officer
◇—◇◇◇—◇◇
Diana Sorfleet
Retired Executive Vice President and Chief Administrative Officer
Departed during or after this year
◇———◇◇◇— not reconciled
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Diana B. SorfleetRSU◇——◇——◇
Diana B. SorfleetPSU◇◇◇—◇—◇
Diana B. SorfleetOPTION◇——◇—◇◇
Joseph R. HinrichsRSU◇——◇——◇
Joseph R. HinrichsPSU◇◇◇—◇—◇
Joseph R. HinrichsOPTION◇——◇—◇◇
Kevin S. BooneRSU◇——◇——◇
Kevin S. BoonePSU◇◇◇—◇—◇
Kevin S. BooneOPTION◇——◇—◇◇
Michael A. CoryOPTION◇——◇—◇◇
Michael A. CoryPSU◇◇◇—◇—◇
Michael A. CoryRSU◇——◇——◇
Sean R. PelkeyRSU◇——◇——◇
Sean R. PelkeyPSU◇◇◇—◇—◇
Sean R. PelkeyOPTION◇——◇—◇◇
Stephen F. AngelOPTION◇——◇—◇◇
Stephen F. AngelPSU◇◇◇—◇—◇
Stephen FortuneRSU◇——◇——◇
Stephen FortunePSU◇◇◇—◇—◇
Stephen FortuneOPTION◇——◇—◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Joseph HinrichsRSU◇◇——
RSU◇◇——
Option◇—◇—
Option◇—◇—
Option◇—◇—
Stephen FortuneRSU◇◇——
RSU◇◇——
Option◇—◇—
Option◇—◇—
Option◇—◇—
Stephen AngelRSU◇◇——
Option◇—◇—
Michael CoryRSU◇◇——
RSU◇◇——
Option◇—◇—
Option◇—◇—
Kevin BooneRSU◇◇——
RSU◇◇——
Option◇—◇—
Option◇—◇—
Option◇—◇—
Sean PelkeyRSU◇◇——
RSU◇◇——
Option◇—◇—
Option◇—◇—
Option◇—◇—
Diana SorfleetRSU◇◇——
RSU◇◇——
Option◇—◇—
Option◇—◇—
Option◇—◇—
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Severance and change in control

The terms as written in the agreements.
Diana Sorfleet
Retired Executive Vice President and Chief Administrative Officer · Severance agreement
Severance multiple◇
Change-in-control trigger◇
Equity acceleration on change in control◇
Benefits continuation◇
Clawback◇
Kevin Boone
Executive Vice President and Chief Financial Officer · Severance agreement
Severance multiple◇
Change-in-control trigger◇
Equity acceleration on change in control◇
Benefits continuation◇
Clawback◇
Michael Cory
Executive Vice President and Chief Operating Officer · Severance agreement
Severance multiple◇
Benefits continuation◇
Clawback◇
Sean Pelkey
Former Executive Vice President and Chief Financial Officer · Severance agreement
Severance multiple◇
Change-in-control trigger◇
Benefits continuation◇
Clawback◇
Stephen Angel
President and Chief Executive Officer · Severance agreement
Severance multiple◇
Change-in-control trigger◇
Benefits continuation◇
Clawback◇
Stephen Fortune
Executive Vice President and Chief Digital & Technology Officer · Severance agreement
Severance multiple◇
Benefits continuation◇
Clawback◇

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
John J. Zillmer
Board chair
◇◇————◇
Linda H. Riefler
◇◇———◇◇
Steven T. Halverson
◇◇———◇◇
J. Steven Whisler
◇◇———◇◇
David M. Moffett
◇◇———◇◇
Paul C. Hilal
◇◇———◇◇
James L. Wainscott
◇◇———◇◇
Anne H. Chow
◇◇———◇◇
Suzanne M. Vautrinot
◇◇———◇◇
Thomas P. Bostick
◇◇———◇◇
Ann D. Begeman
◇◇————◇
Donna M. Alvarado
◇◇———◇◇
Stephen F. Angel served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Board chair premium◇
Equity is delivered as Stock.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Air Products and Chemicals, Inc. APD
  • Canadian National Railway Company CNI
  • Canadian Pacific Kansas City Limited CP
  • Dover Corporation DOV
  • Eaton Corporation ETN
  • Ecolab Inc. ECL
  • Emerson Electric Co. EMR
  • Illinois Tool Works Inc. ITW
  • J.B. Hunt Transport Services, Inc. JBHT
  • Norfolk Southern Corporation NSC
  • Otis Worldwide Corporation OTIS
  • Parker-Hannifin Corporation PH
  • PPG Industries, Inc. PPG
  • Republic Services, Inc. RSG
  • Salary symbol not shown
  • Schlumberger Limited SLB
  • The Williams Companies, Inc. WMB
  • Trane Technologies plc TT
  • Union Pacific Corporation UNP
  • Wabtec Corporation WAB
  • Waste Management, Inc. WM

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 12, 2026=◇◇◇
2024May 7, 2025=◇◇◇
2023May 8, 2024=◇◇◇
2022May 10, 2023=◇◇◇
2021May 4, 2022=◇◇◇
2020May 7, 2021=◇◇◇
2019May 6, 2020=◇◇◇
2018May 3, 2019=◇◇◇
2017May 18, 2018=◇◇◇
2016June 5, 2017=◇◇◇
2015May 11, 2016=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
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What this page does not include

Everything above is a fact CSX Corp disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where CSX Corp sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion Intelligence
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
364 figures on this page: 353 cited to the filing that reported them, 11 calculated from figures it prints.
353 cited to the filing
11 calculated from the filing

Documents cited

  1. 0000950103-26-007181
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0001628280-26-021944
    2025 Grants of Plan-Based Awards Table · CEO Pay Ratio · Compensation Tables · Director Compensation · and 1 more section
  3. 0000950103-25-005915
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0000950103-24-006544
    Item 5.07 Submission of Matters to a Vote of Security Holders
  5. 0000277948-23-000053
    Employment Agreement
  6. 0000950103-23-007234
    Item 5.07 Submission of Matters to a Vote of Security Holders
  7. 0001193125-22-143694
  8. 0001193125-21-160581
    Item 5.07 Submission of Matters to a Vote of Security Holders
  9. 0001193125-20-139067
    Item 5.07 Submission of Matters to a Vote of Security Holders
  10. 0001193125-19-141532
    Item 5.07 Submission of Matters to a Vote of Security Holders
  11. 0001193125-18-170738
    Item 5.07 Submission of Matters to a Vote of Security Holders
  12. 0001193125-17-198632
    Item 5.07 Submission of Matters to a Vote of Security Holders
  13. 0001193125-16-592001
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “CSX Corp executive compensation, FY2023–FY2025.” https://intel.velarion.ai/comp/CSX (accessed 2026).
Short form: data: Velarion

The CSX Corp brief, $1,500

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
From $1,200 for the board report; $2,400 for both.
Get the executive briefGet the board briefNo account needed.
13 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
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Peers CSX Corp discloses

The companies named in CSX's own disclosed peer group.

Air Products and Chemicals, Inc.Dover CorporationEaton CorporationEcolab Inc.Emerson Electric Co.Illinois Tool Works Inc.J.B. Hunt Transport Services, Inc.Norfolk Southern CorporationOtis Worldwide CorporationParker-Hannifin CorporationPPG Industries, Inc.Republic Services, Inc.Schlumberger LimitedThe Williams Companies, Inc.Trane Technologies plcUnion Pacific CorporationWabtec CorporationWaste Management, Inc.

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies

Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.

Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
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