Union Pacific CFO buys shares via employee plan

UNION PACIFIC CORP EVP & Chief Financial Officer Jennifer L. Hamann reported a small share acquisition under an employee plan.

Rhea-AI Filing Summary

UNION PACIFIC CORP EVP & Chief Financial Officer Jennifer L. Hamann reported a small share acquisition under an employee plan. She acquired 8.786 shares of common stock at $264.65 per share pursuant to the 2021 Employee Stock Purchase Plan, bringing her direct holdings to 114,650.6516 shares. The filing also notes indirect ownership of 5,686.776 shares held through a deferral account, reflecting compensation and savings arrangements rather than open-market trading.

Insider Trade Summary

Grant/Award: 8.786 shares

Grant/Award 2 txns

Insider Hamann Jennifer L

Role EVP & CHIEF FINANCIAL OFFICER

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	8.786	$264.65	$2K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 114,650.6516 shares (Direct); Common Stock — 5,686.776 shares (Indirect, By Deferral Account)

Footnotes (1)

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

Key Figures

Employee plan purchase: 8.786 shares Purchase price: $264.65 per share Direct holdings after transaction: 114,650.6516 shares +1 more

4 metrics

Employee plan purchase 8.786 shares Common stock acquired under 2021 Employee Stock Purchase Plan

Purchase price $264.65 per share Price for 8.786 shares acquired

Direct holdings after transaction 114,650.6516 shares Common stock directly owned by CFO after acquisition

Indirect deferral account holdings 5,686.776 shares Common stock held indirectly by deferral account

Key Terms

Employee Stock Purchase Plan, Deferral Account, indirect ownership, Form 4

4 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.

Deferral Account financial

"By Deferral Account"

indirect ownership financial

"The filing also notes indirect ownership of 5,686.776 shares held through a deferral account"

Form 4 regulatory

"This Union Pacific Form 4 shows a small acquisition of 8.786 shares"

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.

FAQ

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

What insider transaction did Union Pacific (UNP) report for CFO Jennifer Hamann?

Union Pacific reported that CFO Jennifer L. Hamann acquired 8.786 shares of common stock. The shares were obtained at $264.65 each through the 2021 Employee Stock Purchase Plan, indicating a compensation-related purchase rather than a large open-market trade.

How many Union Pacific (UNP) shares does the CFO hold after this Form 4?

After the reported transaction, CFO Jennifer L. Hamann directly holds 114,650.6516 Union Pacific common shares. The filing also shows 5,686.776 shares held indirectly through a deferral account, reflecting additional ownership tied to deferred compensation arrangements.

Was the Union Pacific (UNP) CFO transaction an open-market buy or an employee plan purchase?

The transaction was an employee plan purchase, not a standard open-market buy. A footnote explains the 8.786 shares were purchased pursuant to Union Pacific’s 2021 Employee Stock Purchase Plan, which allows employees to acquire stock under plan terms.

Does this Union Pacific (UNP) Form 4 show any insider share sales?

The Form 4 does not report any insider share sales. It shows a small acquisition of 8.786 shares by CFO Jennifer L. Hamann via the employee stock purchase plan and a separate entry reflecting existing indirect holdings in a deferral account.

What does 'By Deferral Account' mean in the Union Pacific (UNP) Form 4 filing?

“By Deferral Account” indicates shares are held indirectly in a deferred compensation account. For Jennifer L. Hamann, the Form 4 lists 5,686.776 Union Pacific shares in this deferral account, separate from her directly owned 114,650.6516 shares of common stock.

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

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Accepted by SEC EDGAR 05/11/2026 - 06:09 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^*

Hamann Jennifer L

(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 FINANCIAL OFFICER

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)		8.786	A	$264.65	114,650.6516	D
Common Stock								5,686.776	I	By Deferral 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: Jennifer L. Hamann	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)