Union Pacific (UNP) legal chief adds shares through 2021 employee stock plan

Rhea-AI Filing Summary

Union Pacific Corp EVP and Chief Legal Officer Christina B. Conlin acquired 7.134 shares of common stock at $267.03 per share under the company’s 2021 Employee Stock Purchase Plan. After this compensation-related acquisition, she directly holds a total of 16,007.266 Union Pacific common shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Conlin Christina B

Role EVP CHIEF LEGAL OFFICER & CORP

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	7.134	$267.03	$2K

Holdings After Transaction: Common Stock — 16,007.266 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Shares acquired: 7.134 shares Acquisition price: $267.03 per share Post-transaction holdings: 16,007.266 shares

3 metrics

Shares acquired 7.134 shares Grant/award acquisition on 2026-06-10

Acquisition price $267.03 per share Price for ESPP acquisition

Post-transaction holdings 16,007.266 shares Direct ownership after acquisition

Key Terms

Form 4, Employee Stock Purchase Plan, Grant, award, or other acquisition

3 terms

Form 4 regulatory

"INSIDER FILING DATA (Form 4):"

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.

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, or other acquisition financial

"transaction_code_description": "Grant, award, or other acquisition""

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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^*

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)
06/10/2026

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	06/10/2026		A(1)		7.134	A	$267.03	16,007.266	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	06/11/2026
	** 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 insider transaction did Union Pacific (UNP) report for Christina B. Conlin?

Union Pacific reported that EVP and Chief Legal Officer Christina B. Conlin acquired 7.134 common shares. The shares were obtained as a compensation-related transaction under the 2021 Employee Stock Purchase Plan, rather than an open-market purchase or sale.

At what price were the new Union Pacific (UNP) shares acquired by Christina B. Conlin?

Christina B. Conlin acquired 7.134 Union Pacific common shares at $267.03 per share. This price comes directly from the transaction line in the filing and reflects the value used for the employee stock purchase plan acquisition.

How many Union Pacific (UNP) shares does Christina B. Conlin hold after this Form 4 transaction?

After the reported acquisition, Christina B. Conlin directly holds 16,007.266 Union Pacific common shares. This post-transaction balance, shown in the filing, helps investors understand the scale of the grant relative to her overall ownership position.

What is the nature of Christina B. Conlin’s Union Pacific (UNP) Form 4 transaction?

The Form 4 shows a grant or award acquisition of 7.134 Union Pacific shares coded as an “A” transaction. A footnote clarifies it was a purchase under the 2021 Employee Stock Purchase Plan, indicating a routine, compensation-linked transaction rather than discretionary trading.

Does the Union Pacific (UNP) Form 4 indicate any share sales by Christina B. Conlin?

The Form 4 does not report any share sales for Christina B. Conlin. It shows only one acquisition transaction for 7.134 shares and lists zero sell transactions in the transaction summary, emphasizing this filing reflects ownership increase, not disposal.