Union Pacific VP buys 5.5 shares at $285.78

Union Pacific’s VP & Controller added a small number of shares through the 2021 Employee Stock Purchase Plan, modestly increasing her direct and indirect holdings.

Rhea-AI Filing Summary

UNION PACIFIC CORP (UNP) reported that officer Carrie J. Powers, VP & Controller, acquired 5.529 shares of common stock on September 10, 2026 at $285.78 per share, as a purchase under the 2021 Employee Stock Purchase Plan. After this transaction she directly holds 8,146.838 shares and also has 967.981 shares held indirectly through a managed account. No Rule 10b5-1 trading plan is reported for these transactions.

Insider Trade Summary

Grant/Award: 5.529 shares

Grant/Award 2 txns

Insider Powers Carrie J

Role VP & CONTROLLER

Type	Security	Shares	Price	Value
Grant/Award	Common Stock F1	5.529	$285.78	$2K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 8,146.838 shares (Direct); Common Stock — 967.981 shares (Indirect, by Managed Account)

Footnotes (1)

1. F1. Purchase pursuant to the 2021 Employee Stock Purchase Plan.

Key Figures

Shares acquired: 5.529 shares Acquisition price per share: $285.78 per share Direct holdings after transaction: 8,146.838 shares +1 more

4 metrics

Shares acquired 5.529 shares Common stock acquired on September 10, 2026 under the 2021 Employee Stock Purchase Plan

Acquisition price per share $285.78 per share Price for the 5.529 UNION PACIFIC CORP shares acquired on September 10, 2026

Direct holdings after transaction 8,146.838 shares Direct UNION PACIFIC CORP common stock owned by Carrie J. Powers following the acquisition

Indirect holdings after transaction 967.981 shares UNION PACIFIC CORP common stock held indirectly by managed account after the reported date

Key Terms

2021 Employee Stock Purchase Plan, managed account, indirect ownership

3 terms

2021 Employee Stock Purchase Plan financial

"Purchase pursuant to the 2021 Employee Stock Purchase Plan"

managed account financial

"indirect ownership is described as by Managed Account"

indirect ownership financial

"classification of holdings as indirect ownership by Managed Account"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did UNP report for Carrie J. Powers on September 10, 2026?

UNION PACIFIC CORP reported that VP & Controller Carrie J. Powers acquired 5.529 shares of common stock on September 10, 2026 through a purchase under the 2021 Employee Stock Purchase Plan at a price of $285.78 per share.

At what price were the new UNP shares acquired under the employee plan?

The new UNION PACIFIC CORP shares were acquired at $285.78 per share on September 10, 2026, as disclosed for the purchase under the 2021 Employee Stock Purchase Plan by VP & Controller Carrie J. Powers.

How many UNP shares does Carrie J. Powers hold after this Form 4 transaction?

After the reported transaction, Carrie J. Powers directly holds 8,146.838 shares of UNION PACIFIC CORP common stock and indirectly holds an additional 967.981 shares through a managed account, according to the Form 4 disclosure.

Was the UNP insider transaction made under a Rule 10b5-1 trading plan?

No. The filing indicates no Rule 10b5-1 trading plan for the reported transaction. The 5.529-share acquisition was identified instead as a purchase under the 2021 Employee Stock Purchase Plan.

How are some of Carrie J. Powers’ UNP shares held according to the Form 4?

In addition to her direct holdings, the Form 4 shows 967.981 shares of UNION PACIFIC CORP common stock held indirectly by Carrie J. Powers through a managed account, classified as indirect ownership.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/11/2026 - 02:11 PM Accepted by SEC EDGAR 09/11/2026 - 02:11 PM Learn about SEC filing dates

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Powers Carrie J

(Last) (First) (Middle)

1400 DOUGLAS STREET

(Street)

OMAHA NEBRASKA 68179

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
UNION PACIFIC CORP [ UNP ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	VP & CONTROLLER

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/10/2026

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

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

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

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	09/10/2026		A(1)		5.529	A	$285.78	8,146.838	D
Common Stock								967.981	I	by Managed Account

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

Explanation of Responses:

1. Purchase pursuant to the 2021 Employee Stock Purchase Plan.

	By: Trevor L. Kingston, Attorney-in-Fact For: Carrie J. Powers	09/11/2026
	** 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.
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.
* Form 4: SEC 1474 (03-26)