Union Pacific (UNP) VP adds 5.97 shares under 2021 employee stock purchase plan

Rhea-AI Filing Summary

UNION PACIFIC CORP vice president and controller Carrie J. Powers acquired additional company stock through an employee program. On a reported date in May 2026, she obtained 5.97 shares of Common Stock at $264.65 per share under the 2021 Employee Stock Purchase Plan. After this acquisition, she directly holds 8,124.479 shares of Union Pacific Common Stock and also reports 963.127 shares held indirectly through a managed account.

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	5.97	$264.65	$2K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 8,124.479 shares (Direct, null); Common Stock — 963.127 shares (Indirect, by Managed Account)

Footnotes (1)

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Key Figures

Shares acquired: 5.97 shares Acquisition price: $264.65 per share Direct holdings after transaction: 8,124.479 shares +1 more

4 metrics

Shares acquired 5.97 shares Common Stock acquired under 2021 Employee Stock Purchase Plan

Acquisition price $264.65 per share Price for Employee Stock Purchase Plan acquisition

Direct holdings after transaction 8,124.479 shares Direct Union Pacific Common Stock owned after acquisition

Indirect holdings reported 963.127 shares Indirect Union Pacific Common Stock held by managed account

Key Terms

Employee Stock Purchase Plan, grant/award acquisition, 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.

grant/award acquisition financial

"transaction_action: "grant/award acquisition" for the Common Stock entry"

Common Stock financial

"security_title: "Common Stock" for reported Union Pacific shares"

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)
05/10/2026

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	05/10/2026		A(1)		5.97	A	$264.65	8,124.479	D
Common Stock								963.127	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	05/11/2026
	** 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)

FAQ

What did Union Pacific (UNP) executive Carrie J. Powers report in this Form 4?

Carrie J. Powers reported acquiring 5.97 Union Pacific Common Stock shares through the 2021 Employee Stock Purchase Plan. The Form 4 also updates her total direct and indirect holdings following this routine employee equity transaction.

How many Union Pacific (UNP) shares did Carrie J. Powers acquire?

She acquired 5.97 shares of Union Pacific Common Stock. The shares were obtained at a price of $264.65 per share pursuant to the company’s 2021 Employee Stock Purchase Plan, reflecting a small, compensation-related increase in her ownership.

What are Carrie J. Powers’ total Union Pacific (UNP) share holdings after the transaction?

Following the reported acquisition, Carrie J. Powers directly holds 8,124.479 Union Pacific Common Stock shares. She also reports 963.127 shares held indirectly through a managed account, giving a fuller picture of her reported equity exposure.

Was Carrie J. Powers’ Union Pacific (UNP) share acquisition an open-market purchase?

No, the acquisition was made through the 2021 Employee Stock Purchase Plan rather than an open-market trade. The Form 4 classifies it as a grant, award, or other acquisition, consistent with compensation-related employee stock programs.

How is the indirect ownership of Union Pacific (UNP) shares reported for Carrie J. Powers?

The Form 4 lists 963.127 Union Pacific Common Stock shares as indirectly owned by a managed account. This entry is categorized as indirect ownership, providing transparency on shares not held directly in her own name.