Union Pacific (UNP) EVP Rocker acquires additional shares through employee stock purchase plan

Rhea-AI Filing Summary

Union Pacific EVP Marketing & Sales Kenyatta G. Rocker reported routine share acquisitions under company plans. On 2026-06-10, he acquired 13.107 shares of Union Pacific common stock directly and 2.785 shares indirectly through his spouse, both at $267.03 per share, classified as grant or award acquisitions.

Following these transactions, he directly holds 61,128.2657 shares of common stock and indirectly holds 1,301.7676 shares through his spouse, 2,047.1471 shares in a managed account, and 350 shares in a deferral account. A footnote states these purchases were made pursuant to the 2021 Employee Stock Purchase Plan and include holdings in payroll-based, tax-reduction, and 401(k) stock ownership plans, highlighting that the activity is compensation and plan-related rather than open-market trading.

Insights

Equity compensation analyst

Rocker’s Form 4 shows small, plan-based share acquisitions, typical of ongoing compensation.

The filing indicates that EVP Marketing & Sales Kenyatta G. Rocker acquired 13.107 direct shares and 2.785 indirect shares of Union Pacific common stock at $267.03 per share. The transactions are coded as grants or awards, and a footnote ties them to the 2021 Employee Stock Purchase Plan and related stock ownership programs.

Because the total acquired is modest versus his post-transaction direct holding of 61,128.2657 shares, this looks like routine participation in company equity programs rather than a directional bet. There are no sales, derivative exercises, or large ownership shifts disclosed, so the informational impact for investors is limited.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider Rocker Kenyatta G

Role EVP MARKETING & SALES

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	13.107	$267.03	$3K
Grant/Award	Common Stock	2.785	$267.03	$743.68
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 61,128.266 shares (Direct, null); Common Stock — 1,301.768 shares (Indirect, by Spouse)

Footnotes (1)

1. Purchase pursuant to the 2021 Employee Stock Purchase Plan. Includes holdings in Union Pacific's Payroll-based and Tax-reduction stock ownership plans and 401(k) plan.

Key Figures

Direct shares acquired: 13.107 shares Indirect shares acquired (spouse): 2.785 shares Transaction price: $267.03 per share +4 more

7 metrics

Direct shares acquired 13.107 shares Common Stock grant/award on June 10, 2026

Indirect shares acquired (spouse) 2.785 shares Common Stock grant/award on June 10, 2026

Transaction price $267.03 per share Price for both acquisition entries

Direct holdings after transaction 61,128.2657 shares Common Stock, direct ownership

Indirect holdings via spouse 1,301.7676 shares Common Stock, indirect ownership by spouse

Indirect holdings in managed account 2,047.1471 shares Common Stock, indirect ownership by managed account

Deferral account holdings 350.0000 shares Common Stock, indirect ownership by deferral account

Key Terms

2021 Employee Stock Purchase Plan, grant, award, or other acquisition, managed account, deferral account, +1 more

5 terms

2021 Employee Stock Purchase Plan financial

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

grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

managed account financial

"nature_of_ownership: by Managed Account"

deferral account financial

"nature_of_ownership: By Deferral Account"

indirect ownership financial

"ownership_type: indirect, ownership_code: I"

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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^*

Rocker Kenyatta G

(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 MARKETING & SALES

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)		13.107	A	$267.03	61,128.2657	D
Common Stock	06/10/2026		A(1)		2.785	A	$267.03	1,301.7676	I	by Spouse
Common Stock								350	I	By Deferral Account
Common Stock(2)								2,047.1471	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	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 activity did Union Pacific (UNP) report for Kenyatta G. Rocker?

Union Pacific reported that EVP Kenyatta G. Rocker acquired additional common shares. On June 10, 2026, he received 13.107 direct shares and 2.785 indirect shares, both at $267.03 per share, classified as grant or award acquisitions rather than open-market purchases.

How many Union Pacific (UNP) shares does Kenyatta G. Rocker hold after this Form 4?

After these transactions, Rocker holds a substantial Union Pacific stake. He directly owns 61,128.2657 common shares and indirectly owns 1,301.7676 shares through his spouse, 2,047.1471 shares in a managed account, and 350 shares in a deferral account.

At what price were Kenyatta G. Rocker’s new Union Pacific (UNP) shares acquired?

The newly acquired Union Pacific shares were booked at $267.03 each. Both the 13.107 direct shares and the 2.785 indirect shares through his spouse carried a transaction price per share of $267.03, reflecting their value for this equity compensation event.

Were Kenyatta G. Rocker’s Union Pacific (UNP) transactions open-market buys or plan-based?

The filing links Rocker’s share acquisitions to company equity plans. A footnote specifies that the purchases were made pursuant to the 2021 Employee Stock Purchase Plan and include holdings in payroll-based, tax-reduction, and 401(k) stock ownership plans, indicating plan-based activity.

Does the Form 4 for Union Pacific (UNP) show any insider share sales by Kenyatta G. Rocker?

No insider sales are reported in this Form 4. The transaction summary shows two acquisition transactions totaling 15.892 shares and no sell transactions, suggesting the filing reflects incremental additions from compensation or employee stock purchase participation.