Union Pacific (UNP) VP & Controller adds stock through 2021 employee plan

Rhea-AI Filing Summary

UNION PACIFIC CORP officer Carrie J. Powers, VP & Controller, acquired common stock through an employee plan. On April 10, 2026, she received 6.307 shares of common stock at $250.5100 per share, described as a purchase under the 2021 Employee Stock Purchase Plan.

After this acquisition, Powers directly holds 8,118.509 shares of Union Pacific common stock. The filing also shows an additional 963.070 shares held indirectly in a managed account, reflecting total reported exposure split between direct and indirect ownership.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Powers Carrie J

Role VP & CONTROLLER

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	6.307	$250.51	$2K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 8,118.509 shares (Direct); Common Stock — 963.07 shares (Indirect, by Managed Account)

Footnotes (1)

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Key Figures

Shares acquired: 6.307 shares Acquisition price: $250.5100 per share Direct holdings after transaction: 8,118.509 shares +1 more

4 metrics

Shares acquired 6.307 shares Common stock acquired on April 10, 2026 under 2021 ESPP

Acquisition price $250.5100 per share Price for 6.307 common shares acquired April 10, 2026

Direct holdings after transaction 8,118.509 shares Direct Union Pacific common stock owned by Carrie J. Powers after acquisition

Indirect holdings 963.070 shares Union Pacific common stock held indirectly by managed account

Key Terms

Employee Stock Purchase Plan, Managed Account, Common Stock

3 terms

Employee Stock Purchase Plan financial

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

An employee stock purchase plan is a company program that lets workers buy shares through small payroll deductions, often at a discount to the market price and after a set offering period. Think of it like a workplace savings plan that turns into ownership: it encourages employees to share in the company’s success and can create predictable buying or selling of stock that investors watch because it affects supply, demand and employee incentives.

Managed Account financial

"nature_of_ownership": "by Managed Account""

Common Stock financial

"security_title": "Common Stock""

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

Form 4 Insider Transactions: What Each Field Means →

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)
04/10/2026

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	04/10/2026		A(1)		6.307	A	$250.51	8,118.509	D
Common Stock								963.07	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	04/13/2026
	** 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)

FAQ

What insider transaction did Union Pacific (UNP) report for Carrie J. Powers?

Union Pacific reported that VP & Controller Carrie J. Powers acquired 6.307 shares of common stock. The shares were obtained on April 10, 2026, as a purchase under the company’s 2021 Employee Stock Purchase Plan, adding to her existing direct ownership position.

How many Union Pacific (UNP) shares does Carrie J. Powers now hold directly?

After the reported transaction, Carrie J. Powers directly holds 8,118.509 shares of Union Pacific common stock. This reflects her position following the 6.307-share acquisition on April 10, 2026, under the 2021 Employee Stock Purchase Plan described in the Form 4 filing.

At what price were Carrie J. Powers’ Union Pacific (UNP) shares acquired?

The 6.307 Union Pacific common shares were acquired at $250.5100 per share. This price applies to the April 10, 2026 transaction, which the filing describes as a purchase pursuant to Union Pacific’s 2021 Employee Stock Purchase Plan for eligible employees.

What indirect Union Pacific (UNP) holdings are reported for Carrie J. Powers?

The filing shows 963.070 Union Pacific common shares held indirectly for Carrie J. Powers. These indirect holdings are described as being owned through a managed account, separate from her 8,118.509 directly held shares reported after the April 10, 2026 acquisition.

Was the Union Pacific (UNP) insider transaction part of an employee plan?

Yes. A footnote states the acquisition was a purchase pursuant to the 2021 Employee Stock Purchase Plan. This indicates the 6.307 shares of Union Pacific common stock were obtained through a company-sponsored employee stock purchase program, rather than an open-market trade.