Form 4: Union Pacific Director Acquires Phantom Stock Units

John K. Tien Jr., a director at Union Pacific, acquired 195 phantom stock units on January 2, 2025, convertible to cash upon retirement.

Summary

• John K. Tien Jr., a director of Union Pacific Corp, acquired 195 phantom stock units on January 2, 2025.
• These phantom stock units are payable in cash only, commencing at retirement.
• The distribution ratio for the phantom stock units is 1:1, meaning each unit represents one share of common stock.
• The price of the underlying common stock at the time of the transaction was $229.12 per share.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally. There is no indication of any positive or negative sentiment.

Future Outlook

The phantom stock units will be paid out in cash upon the director's retirement.

Industry Context

This is a standard transaction for a director of a public company, often part of their compensation package.

Comparison to Industry Standards

• Phantom stock grants are a common form of equity compensation for directors and executives in publicly traded companies.
• The vesting and payout terms, such as payment upon retirement, are typical for these types of grants.
• Companies like CSX, Norfolk Southern, and other major transportation companies often use similar compensation structures for their board members.

Stakeholder Impact

• The transaction has a minimal direct impact on shareholders as it is part of the director's compensation package.
• The phantom stock units will be paid out in cash upon retirement, which could have a minor impact on the company's cash flow in the future.

Key Dates

Keywords

phantom stock, stock units, director, insider trading, Union Pacific, UNP, equity compensation