Form 4: Union Pacific Director Acquires Phantom Stock Units

Michael R. McCarthy, a director at Union Pacific, acquired 934 phantom stock units on January 2, 2025, which are payable in cash upon retirement.

Summary

• Michael R. McCarthy, a director of Union Pacific Corp, acquired 934 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.
• Following this transaction, Mr. McCarthy directly owns 67,374 shares of Union Pacific common stock.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction, indicating a neutral to slightly positive sentiment as it shows a director's continued investment in the company.

Future Outlook

The phantom stock units will be payable in cash upon Mr. McCarthy's retirement.

Industry Context

This is a routine disclosure of a director's stock transaction, which is common practice for publicly traded companies.

Comparison to Industry Standards

• Director stock ownership and phantom stock grants are common practices among large publicly traded companies like Union Pacific.
• Similar disclosures are regularly made by directors and officers of companies such as CSX, Norfolk Southern, and Canadian National Railway, all of which are major players in the railroad industry.
• These transactions are typically part of executive compensation packages and are aligned with industry standards for incentivizing management.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it demonstrates a director's continued investment in the company.

Key Dates

Keywords

Phantom Stock Units, Director, Union Pacific, Stock Acquisition, Form 4, Beneficial Ownership