Union Pacific (NYSE: UNP) EVP boosts holdings through employee stock purchase

Rhea-AI Filing Summary

Union Pacific Corp executive Kenyatta G. Rocker increased his stake in the company through an employee stock purchase. On March 10, 2026, he acquired 12.1900 shares of Union Pacific common stock directly and 2.8660 shares indirectly through his spouse at $250.2100 per share, pursuant to the 2021 Employee Stock Purchase Plan. Following these acquisitions, he directly owns 61,087.9627 shares, while his spouse holds 1,290.8540 shares indirectly attributed to him. The filing also reports indirect holdings of 350.0000 shares through a deferral account and 2,038.6693 shares through a managed account.

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
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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^*

Rocker Kenyatta G

(Last) (First) (Middle)

1400 DOUGLAS STREET

(Street)

OMAHA NE 68179

(City) (State) (Zip)

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 MARKETING & SALES

3. Date of Earliest Transaction (Month/Day/Year)
03/10/2026

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

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

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

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	03/10/2026		A(1)		12.19	A	$250.21	61,087.9627	D
Common Stock	03/10/2026		A(1)		2.866	A	$250.21	1,290.854	I	by Spouse
Common Stock								350	I	By Deferral Account
Common Stock(2)								2,038.6693	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.

2. Includes holdings in Union Pacific's Payroll-based and Tax-reduction stock ownership plans and 401(k) plan.

	By: Trevor L. Kingston, Attorney-in-Fact For: Kenyatta G. Rocker	03/11/2026
	** 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.

FAQ

What insider transaction did UNP executive Kenyatta Rocker report on this Form 4?

EVP Marketing & Sales Kenyatta G. Rocker reported acquiring Union Pacific common stock. He received 12.1900 shares directly and 2.8660 shares indirectly via his spouse at $250.2100 per share under the 2021 Employee Stock Purchase Plan.

Was Kenyatta Rocker’s UNP stock acquisition an open-market purchase?

The acquisition was not an open-market trade. The filing states the shares were purchased pursuant to Union Pacific’s 2021 Employee Stock Purchase Plan, indicating a compensation-related employee plan transaction rather than a discretionary market buy or sell.

How many Union Pacific (UNP) shares does Kenyatta Rocker hold after this transaction?

After the transaction, Kenyatta Rocker directly holds 61,087.9627 Union Pacific shares. In addition, his spouse holds 1,290.8540 shares attributed indirectly to him, plus indirect positions of 350.0000 shares in a deferral account and 2,038.6693 shares in a managed account.

What role does Kenyatta Rocker hold at Union Pacific (UNP)?

Kenyatta G. Rocker is identified as an officer of Union Pacific, serving as Executive Vice President, Marketing & Sales. His Form 4 filing reflects stock acquired through an employee stock purchase plan in connection with this executive position.

Does this Union Pacific Form 4 show any insider selling activity?

The Form 4 shows only acquisition activity. It reports two grant or award acquisitions of Union Pacific common stock and no dispositions, with the transaction summary indicating zero sell transactions and a net neutral buy-sell share balance.