Form 4: Union Pacific Director Teresa Finley Reports Phantom Stock Unit Acquisition

Director Teresa Finley reported the acquisition of 188 phantom stock units of Union Pacific on April 1, 2024, according to a Form 4 filing.

Summary

• On April 1, 2024, Teresa Finley, a director of Union Pacific Corp, acquired 188 phantom stock units.
• These phantom stock units are payable in cash upon retirement.
• The distribution ratio for the phantom stock units is 1:1.
• Following the transaction, Finley directly owns 1,726 phantom stock units.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, indicating a neutral sentiment. It reports a routine transaction related to executive compensation.

Future Outlook

The phantom stock units are payable in cash only commencing at retirement, indicating a deferred compensation plan.

Industry Context

This filing is a routine disclosure related to executive compensation and aligns with standard practices for publicly traded companies.

Comparison to Industry Standards

• Phantom stock grants are a common form of executive compensation in publicly traded companies, used to align executive interests with shareholder value.
• Companies like CSX Corporation and Norfolk Southern also utilize similar equity-based compensation plans for their executives.
• The specific number of units granted and the vesting schedule would need to be compared to industry benchmarks to assess the competitiveness of Union Pacific's compensation practices.

Stakeholder Impact

• The acquisition of phantom stock units aligns the director's interests with those of the shareholders, as the value of the units is tied to the company's performance.

Key Dates