[Form 4] Union Pacific Corp. Insider Trading Activity

Rhea-AI Filing Summary

Immunovant, Inc. (IMVT) – Form 4 filed 07/11/2025

Chief Technology Officer Jay S. Stout disclosed a routine, non-discretionary insider transaction tied to restricted stock unit (RSU) vesting.

• Shares sold: 1,519 common shares on 07/09/2025
• Weighted-average price: $17.24 (price range $17.00–$17.50)
• Reason: Automatic “sell-to-cover” to satisfy tax withholding on the vesting of 3,436 RSUs granted 04/02/2024 (first tranche vested 07/02/2025)
• Ownership after sale: 207,724 shares held directly

The filing notes that the sale was mandated by company policy and therefore does not reflect an elective liquidation by the executive. Given the modest size relative to the remaining stake and the absence of other material disclosures, the event is considered routine with limited market impact.

Insights

Securities Analyst

TL;DR: Minor sell-to-cover insider sale; neutral signal for IMVT valuation.

The Form 4 details a compulsory sale of 1,519 Immunovant shares by CTO Jay S. Stout to cover taxes from RSU vesting. Post-transaction ownership stands at 207,724 shares, indicating the executive retains a substantial equity position. Because the trade was not discretionary and represents less than 1 % of outstanding insider holdings, it is unlikely to influence investor sentiment or fundamentals. No operational, financial, or strategic information accompanies the filing, so the overall impact on the investment thesis is neutral.

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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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 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)
	VP & CONTROLLER

3. Date of Earliest Transaction (Month/Day/Year)
07/10/2025

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	07/10/2025		A(1)		6.435	A	$237	7,379.595	D
Common Stock								947.202	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	07/11/2025
	** 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

How many Immunovant (IMVT) shares did CTO Jay S. Stout sell on July 9, 2025?

He sold 1,519 common shares, as disclosed in the Form 4.

What was the average price of the Immunovant shares sold?

The weighted-average sale price was $17.24, within a range of $17.00–$17.50.

Why were the shares sold by Immunovant's CTO?

The sale was an automatic sell-to-cover transaction to pay tax withholding on vested RSUs.

How many Immunovant shares does Jay S. Stout still own after the transaction?

He now beneficially owns 207,724 shares of IMVT.

Did the Form 4 report any change in Jay S. Stout’s position at Immunovant?

No. He continues to serve as Chief Technology Officer; the filing only addresses share disposition.