SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Shaw Alan H.

(Last)

(First)

(Middle)

THREE COMMERCIAL PLACE

(Street)

NORFOLK

23510

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
05/16/2015

3. Issuer Name and Ticker or Trading Symbol
NORFOLK SOUTHERN CORP [ NSC ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	EVP & Chief Marketing Officer

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock⁽¹⁾	882	D
Common Stock	1,557.0374⁽²⁾	I	By 401(k) Plan

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Option (right to buy, granted 2010)⁽³⁾	01/29/2014	01/28/2020	Common Stock	2,700	$47.76	D
Option (right to buy, granted 2011)⁽³⁾	01/27/2015	01/26/2021	Common Stock	2,000	$62.745	D
Option (right to buy, granted 2012)⁽³⁾	01/26/2016	01/25/2022	Common Stock	1,900	$75.14	D
Option (right to buy, granted 2013)⁽³⁾	01/24/2017	01/23/2023	Common Stock	2,550	$69.83	D
Option (right to buy, granted 2014)⁽³⁾	01/23/2018	01/22/2024	Common Stock	2,760	$94.17	D
Option (right to buy, granted 2015)⁽³⁾	01/27/2019	01/26/2025	Common Stock	2,720	$104.23	D
Restricted Stock Units⁽⁴⁾	01/23/2019	01/23/2019	Common Stock	730	⁽⁴⁾	D
Restricted Stock Units⁽⁴⁾	01/24/2018	01/24/2018	Common Stock	650	⁽⁴⁾	D
Restricted Stock Units⁽⁴⁾	01/26/2017	01/26/2017	Common Stock	550	⁽⁴⁾	D
Restricted Stock Units⁽⁴⁾	01/27/2016	01/27/2016	Common Stock	600	⁽⁴⁾	D
Restricted Stock Units⁽⁴⁾	01/27/2020	01/27/2020	Common Stock	660	⁽⁴⁾	D

Explanation of Responses:

1. At is meeting on May 14, 2015, the Corporation's Board of Directors elected the reporting person to his current position and designated him an "Executive Officer" for purposes of Section 16, effective May 16, 2015. Accordingly, this Form 3 reports the reporting person's direct and indirect holdings of Common Stock and derivative securities on the effective date of his designation.

2. Represents the approximate number of whole shares of Common Stock estimated -- on the basis of the unit accounting system used by the Plan Administrator -- as of May 15, 2015, to have been credited to the reporting person's account in the Norfolk Southern Corporation Thrift and Investment Plan (TIP), a trusteed 401(k) plan. In accordance with TIP's terms applicable to all participants, acquisitions were made at various times and at various prices.

3. Employee stock options (right to buy) granted under the Norfolk Southern Corporation Long-Term Incentive Plan.

4. Reports the total number of Restricted Stock Units granted to the reporting person under the terms of the Norfolk Southern Corporation Long-Term Incentive Plan. These units will ultimately be satisfied in shares of stock.

Remarks:

poashaw.txt

	Denise W. Hutson via P.O.A. for Alan H. Shaw	05/26/2015
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.