Form 4: Director W. Anthony Will Acquires Union Pacific Phantom Stock

Union Pacific Corporation Director W. Anthony Will acquired 179 phantom stock units as part of director compensation.

Summary

• Director W. Anthony Will was granted 179 phantom stock units on April 1, 2026.
• The phantom stock units have a conversion ratio of 1:1 to common stock.
• These units are payable in cash only upon the director's retirement.
• The transaction reflects standard equity-based compensation for board members.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, as it represents routine director compensation rather than a strategic shift or market-moving event.

Positives

• Alignment of director interests with long-term shareholder value through equity-linked compensation.

Negatives

• None identified; this is a routine compensation disclosure.

Risks

• Value of phantom stock is subject to the future market performance of Union Pacific common stock.

Future Outlook

The filing does not provide forward-looking guidance regarding company operations or financial performance.

Industry Context

StockSavvy.ai notes that this filing is a standard regulatory disclosure regarding director compensation and does not signal a change in corporate strategy or operational outlook.

Comparison to Industry Standards

• The use of phantom stock units for director compensation is a common practice among S&P 500 companies to align board incentives with shareholder interests.
• The 1:1 conversion ratio is standard for deferred compensation plans in the transportation and logistics sector.

Stakeholder Impact

• Minimal impact on shareholders as this is a standard compensation disclosure.

Next Steps

• No future actions or milestones were disclosed in this filing.

Key Dates

Keywords

Union Pacific, UNP, Form 4, Insider Trading, Director Compensation, Phantom Stock