Form 4: Union Pacific CFO Exercises Options, Adjusts Holdings

Union Pacific's EVP & CFO, Jennifer L. Hamann, exercised stock options and subsequently sold shares to cover tax obligations.

Summary

• Jennifer L. Hamann, Executive Vice President and Chief Financial Officer of Union Pacific Corp (UNP), exercised 4,243 non-qualified stock options at a price of $124.86 per share on February 12, 2026.
• Following the option exercise, Hamann disposed of 2,016 shares of Common Stock at $262.81 per share to satisfy tax withholding obligations.
• An additional 902 shares of Common Stock were disposed of at $262.81 per share, also for tax withholding purposes.
• After these transactions, Hamann directly beneficially owns 116,624.0606 shares of Common Stock.
• Hamann also indirectly beneficially owns 5,654.613 shares of Common Stock through a Deferral Account.
• The exercised options were granted with an exercisable date starting February 8, 2019, and an expiration date of February 8, 2028.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral to slightly positive event. The exercise of options indicates the executive is realizing value from their compensation, which is generally a positive sign of confidence, though the subsequent sale for tax purposes is a routine administrative action.

Positives

• The exercise of stock options indicates that the executive realized value from their compensation package, suggesting a positive view on the company's stock performance since the options were granted.
• The exercise price of $124.86 is significantly lower than the sale price of $262.81, indicating a substantial gain for the executive on the exercised options.

Negatives

• A portion of the acquired shares (2,918 shares total) was immediately sold to cover tax liabilities, resulting in a reduction of direct beneficial ownership compared to the total shares acquired through option exercise.

Industry Context

StockSavvy.ai notes that routine insider transactions, such as option exercises followed by tax-related sales, are common across all industries, particularly for executives with long-term incentive plans. These transactions typically reflect the executive's compensation structure rather than a specific strategic move or outlook on the company's immediate future.

Key Dates

Keywords

Union Pacific, UNP, Form 4, Insider Transaction, Stock Options, Executive Compensation, Jennifer L. Hamann, CFO