SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
TOBIAS STEPHEN C

(Last) (First) (Middle)
THREE COMMERCIAL PLACE

(Street)
NORFOLK VA 23510

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
NORFOLK SOUTHERN CORP [ NSC ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Vice Chmn. and C.O.O.
3. Date of Earliest Transaction (Month/Day/Year)
05/06/2008
4. 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 Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock(1) 05/06/2008 M 100,000 A $22.49 344,221 D
Common Stock(1) 05/06/2008 S 8,400 D $62.16 335,821 D
Common Stock(1) 05/06/2008 S 461 D $62.17 335,360 D
Common Stock(1) 05/06/2008 S 100 D $62.18 335,260 D
Common Stock(1) 05/06/2008 S 400 D $62.19 334,860 D
Common Stock(1) 05/06/2008 S 6,036 D $62.2 328,824 D
Common Stock(1) 05/06/2008 S 454 D $62.205 328,370 D
Common Stock(1) 05/06/2008 S 7,700 D $62.21 320,670 D
Common Stock(1) 05/06/2008 S 346 D $62.215 320,324 D
Common Stock(1) 05/06/2008 S 4,480 D $62.22 315,844 D
Common Stock(1) 05/06/2008 S 300 D $62.225 315,544 D
Common Stock(1) 05/06/2008 S 12,262 D $62.23 303,282 D
Common Stock(1) 05/06/2008 S 400 D $62.235 302,882 D
Common Stock(1) 05/06/2008 S 4,045 D $62.24 298,837 D
Common Stock(1) 05/06/2008 S 200 D $62.245 298,637 D
Common Stock(1) 05/06/2008 S 12,624 D $62.25 286,013 D
Common Stock(1) 05/06/2008 S 100 D $62.255 285,913 D
Common Stock(1) 05/06/2008 S 6,100 D $62.26 279,813 D
Common Stock(1) 05/06/2008 S 7,000 D $62.27 272,813 D
Common Stock(1) 05/06/2008 S 2,000 D $62.28 270,813 D
Common Stock(1) 05/06/2008 S 9,500 D $62.29 261,313 D
Common Stock(1) 05/06/2008 S 200 D $62.295 261,113 D
Common Stock(1) 05/06/2008 S 5,568 D $62.3 255,545 D
Common Stock(1) 05/06/2008 S 400 D $62.305 255,145 D
Common Stock(1) 05/06/2008 S 2,376 D $62.31 252,769 D
Common Stock(1) 05/06/2008 S 200 D $62.315 252,569 D
Common Stock(1) 05/06/2008 S 936 D $62.32 251,633 D
Common Stock(1) 05/06/2008 S 700 D $62.35 250,933 D
Common Stock(1) 05/06/2008 S 800 D $62.38 250,133 D
Common Stock(1) 05/06/2008 S 4,014 D $62.39 246,119 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Option to buy (granted 2002) $22.49 05/06/2008 M(2) 100,000(2) 01/28/2003 01/27/2012 Common Stock 100,000 (2) 100,000 D
Explanation of Responses:
1. Two Forms 4 are being filed to reflect the exercise of a stock option and sale of the shares acquired, all on May 6, 2008. This is the first of two Forms 4.
2. Reflects exercise and resulting cancellation of stock option, in a single transaction, exempt from Section 16(b). The stock option was granted under the Long-Term Incentive Plan (a Rule 16b-3 plan).
Remarks:
H. D. McFadden, via P.O.A. for Stephen C. Tobias 05/08/2008
** 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 4 (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.
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