James A. Squires served as the Chairman, President, and CEO of Norfolk Southern Corp from 2015 until his retirement in May 2022. He started working at the company in 1992 and climbed the ranks to become CEO while holding multiple...

James A. Squires served as the Chairman, President, and CEO of Norfolk Southern Corp from 2015 until his retirement in May 2022. He started working at the company in 1992 and climbed the ranks to become CEO while holding multiple roles, including CFO. Squires is known for his focus on aligning executive pay with company performance, which is clear from his total compensation, which was over $14 million in 2020, driven by targets like operating income. Interestingly, he received a substantial stock reward of $7.3 million in 2021, indicating his strong performance measures. In 2023, Squires communicated he would not stand for re-election, marking the end of an era but stated it was not due to any disagreements. His career reflects stability, growth, and a solid approach to corporate governance without any controversies, a rarity in the corporate world.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Norfolk Southern CEOs

N

James A. Squires

Ex-CEO of Norfolk Southern

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Industrials

Born

September 22, 1961 - 63 years ago

CEO of Norfolk Southern for

6 years 11 months (Jun 2015 - May 2022)

Previous Experience

Executive Vice President Administration, Executive Vice President Finance and Chief Financial Officer

Rivals

Competitors/colleagues of James A. Squires

U

David P. Abney

CEO of United Parcel Service, Inc.

2023 Compensation

Stock

$0.00

Salary

$1.51M

Bonus

$0.00

Other

$95.67K

Total Holdings

$30.00M

U

Lance M. Fritz

CEO of Union Pacific

2023 Compensation

Stock

$4.94M

Salary

$1.33M

Bonus

$960.00K

Other

$165.96K

Total Holdings

$192.70M

C

Joseph R. Hinrichs

CEO of CSX

2023 Compensation

Stock

$0.00

Salary

$1.40M

Bonus

$2.42M

Other

$0.00

Total Holdings

$27.36M

Holdings

See how much did James A. Squires make over time.

Throughout his tenure, James A. Squires maintained significant holdings in Norfolk Southern, particularly as he moved into leadership roles. At his peak, he had substantial wealth tied up in company stock, which indicated his confidence in the company’s performance. For...

Throughout his tenure, James A. Squires maintained significant holdings in Norfolk Southern, particularly as he moved into leadership roles. At his peak, he had substantial wealth tied up in company stock, which indicated his confidence in the company’s performance. For example, in 2021 alone, Squires had stock rewards valued at approximately $7.3 million. However, by 2022, as he prepared for retirement, his holdings did not see any increased stock grants, reflecting a shift in focus from active engagement to legacy planning. The volatility of the stock market during his last years brought fluctuations in his net worth, but his previous holdings had significantly contributed to his overall wealth.

Total Stock Sold

$110.94M

NSC

$110.94M

523,738 NSC shares

What if they kept their stock?

If James A. Squires didn't sell their stock, today they would have:
Extra NSC523,738 shares worth $100.30M.
This is -9.6% and $10.65M less than what they got when they sold the stock.

Charitable Transactions

NSC

261,780 shares

NSC

Recent Charitable Transactions

NSC

16,000 shares

NSC

Mar 24, 2022

Charity

NSC

14,000 shares

NSC

Mar 21, 2022

Charity

NSC

14,000 shares

NSC

Mar 21, 2022

Charity

NSC

3,200 shares

NSC

Aug 4, 2021

Charity

NSC

3,177 shares

NSC

May 26, 2021

Charity

NSC

16,456 shares

NSC

Mar 9, 2021

Charity

Insider Trading

See recent insider trades of James A. Squires.

NSC

20,396 shares

NSC

Jan 26, 2023

Received

NSC

$5.23M

NSC at $245.76/share

Dec 8, 2022

Sale

NSC

$26.32M

NSC at $249.64/share

Aug 2, 2022

Sale

NSC

$6.90M

NSC at $247.54/share

May 16, 2022

Sale

NSC

16,000 shares

NSC

Mar 24, 2022

Charity

NSC

14,000 shares

NSC

Mar 21, 2022

Charity

NSC

14,000 shares

NSC

Mar 21, 2022

Charity

NSC

$16.94M

NSC at $269.36/share

Jan 27, 2022

Sale

NSC

29,481 shares

NSC

Jan 27, 2022

Received

NSC

3,200 shares

NSC

Aug 4, 2021

Charity

Compensation History

See how much did James A. Squires make over time.

During his time at Norfolk Southern, James A. Squires’ compensation reflected a strong performance-driven philosophy. In 2022, his total compensation was $407,426, which included a hefty cash bonus of $7340445 based on the company's performance metrics. In previous years, particularly in 2020, his earnings exceeded $14 million, showcasing the importance of performance targets. Over the years, Squires received various other benefits including life insurance and retirement contributions, but his compensation remained tightly linked to the company’s achievements and efficiency in operations. His approach to executive pay has been a proactive measure to ensure alignment with shareholder interests, marking a sensible strategy in corporate governance.

Year

2022

Total Compensation

$7.91M

Salary

$366.67K

Board Justification

The compensation philosophy emphasizes performance-based incentives to align executive compensation with shareholder interests, focusing on achieving strategic goals and financial performance metrics.

Bonus

$7.34M

Board Justification

The annual incentive award was based on performance against corporate goals, with a payout of 49.4% of the target opportunity, resulting in a cash bonus of $407,426 for the period he served as Chairman and CEO before retirement.

Other

$205.71K

Board Justification

This includes life insurance premiums and other benefits provided during his tenure as CEO.

Restricted Stock

$0.00(0 RSU)

Board Justification

No stock awards vested in 2022 as Mr. Squires retired on May 1, 2022, and any stock grants would have been forfeited due to his retirement.

Performance Metrics

The performance metrics for the annual incentive plan included operating ratio, operating income, and progress towards strategic objectives.

Other Norfolk Southern CEOs

Here are other CEOs of Norfolk Southern

Charles W. Moorman

CEO of Norfolk Southern

November 2005 - Invalid Date

Alan H. Shaw

CEO of Norfolk Southern

May 2022 - Present