Union Pacific EVP buys 2.222 shares at $285.78

Union Pacific’s EVP and chief legal officer modestly increased her direct UNP shareholdings via the employee stock purchase plan.

Rhea-AI Filing Summary

UNION PACIFIC CORP (UNP) reported that executive officer Christina B. Conlin acquired a small amount of company common stock through an employee plan. On September 10, 2026, she acquired 2.222 shares of common stock at $285.78 per share under the 2021 Employee Stock Purchase Plan, bringing her direct holdings to 16,013.874 shares.

Insider Trade Summary

Grant/Award: 2.222 shares

Grant/Award 1 txn

Insider Conlin Christina B

Role EVP CHIEF LEGAL OFFICER & CORP

Type	Security	Shares	Price	Value
Grant/Award	Common Stock F1	2.222	$285.78	$635.00

Holdings After Transaction: Common Stock — 16,013.874 shares (Direct)

Footnotes (1)

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

Key Figures

Shares acquired: 2.222 shares Acquisition price per share: $285.78 per share Holdings after transaction: 16,013.874 shares

3 metrics

Shares acquired 2.222 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 2.222 Union Pacific common shares acquired on September 10, 2026

Holdings after transaction 16,013.874 shares Total direct Union Pacific common stock held by Christina B. Conlin after the transaction

Key Terms

Form 4, Rule 10b5-1 plan, Employee Stock Purchase Plan

3 terms

Form 4 regulatory

"reported in the Form 4 filing"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

Rule 10b5-1 plan regulatory

"No Rule 10b5-1 plan was affirmed"

A Rule 10b5-1 plan is a prearranged, written schedule that lets corporate insiders buy or sell company stock at set times or amounts, even if they later learn material nonpublic information. Think of it like setting an automatic thermostat for trades: it creates a clear record that trades were planned in advance, reducing the risk of insider-trading accusations and helping investors trust that insider transactions are routine rather than based on secret information.

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.

FAQ

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

What insider transaction did UNP report for Christina B. Conlin?

Christina B. Conlin, EVP Chief Legal Officer & Corp at UNP, reported acquiring 2.222 shares of Union Pacific common stock on September 10, 2026, as a grant/award acquisition tied to the 2021 Employee Stock Purchase Plan.

At what price were the Union Pacific (UNP) shares acquired in this Form 4?

The reported acquisition price was $285.78 per share for the 2.222 shares of Union Pacific common stock acquired by Christina B. Conlin on September 10, 2026, under the 2021 Employee Stock Purchase Plan.

How many Union Pacific (UNP) shares does Christina B. Conlin hold after this transaction?

Following the September 10, 2026 acquisition, Christina B. Conlin directly holds 16,013.874 shares of Union Pacific common stock, as reported in the Form 4 filing.

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

No. The Form 4 indicates no Rule 10b5-1 plan was affirmed. The footnote states the purchase was made pursuant to the 2021 Employee Stock Purchase Plan, which is separate from a Rule 10b5-1 trading plan.

What plan is referenced in this Union Pacific (UNP) Form 4 transaction?

The transaction footnote specifies that the acquisition of 2.222 shares of Union Pacific common stock was a purchase made pursuant to the 2021 Employee Stock Purchase Plan.

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

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Available on EDGAR 09/11/2026 - 02:11 PM EDT Accepted by SEC EDGAR 09/11/2026 - 02:11 PM EDT 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^*

Conlin Christina B

(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)
	EVP CHIEF LEGAL OFFICER & CORP

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)		2.222	A	$285.78	16,013.874	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

Explanation of Responses:

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

	By: Trevor L. Kingston, Attorney-in-Fact For: Christina B. Conlin	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)