Form 4: Union Pacific EVP Acquires Shares via ESPP

Union Pacific's EVP of Marketing & Sales, Kenyatta G. Rocker, acquired 3.045 shares of common stock at $235.46 per share through an employee stock purchase plan.

Summary

• Kenyatta G. Rocker, Executive Vice President of Marketing & Sales at Union Pacific Corp (UNP), reported a change in beneficial ownership.
• On December 10, 2025, Rocker acquired 3.045 shares of Union Pacific common stock.
• The shares were purchased at a price of $235.46 per share.
• This acquisition was made pursuant to the 2021 Employee Stock Purchase Plan.
• Following this transaction, Rocker's beneficial ownership includes 52,157.1007 shares held directly, 1,284.9951 shares indirectly by spouse, 350 shares indirectly by a deferral account, and 2,034.4439 shares indirectly by a managed account (which includes holdings in Union Pacific's Payroll-based and Tax-reduction stock ownership plans and 401(k) plan).

Sentiment

Score: 7

Explanation: The acquisition of shares by an executive, even a small amount through an ESPP, generally indicates confidence in the company's future, which is a positive signal. However, it's a routine transaction and not a major strategic move.

Positives

• An executive is increasing their stake in the company, which can signal confidence in future performance.
• Participation in an Employee Stock Purchase Plan (ESPP) indicates alignment of employee interests with shareholder interests.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders may view the executive's purchase as a positive signal of management confidence in the company's prospects.

Key Dates

Recommendation

This Form 4 filing reports a routine acquisition of a small number of shares by an executive through an Employee Stock Purchase Plan. While insider buying can be a positive signal, the size and nature of this transaction do not warrant a change in investment recommendation. It primarily reflects participation in a standard employee benefit program rather than a significant discretionary investment decision that would materially alter the company's outlook or valuation.

Keywords

Union Pacific, UNP, Kenyatta G. Rocker, Insider Transaction, Form 4, Stock Acquisition, Employee Stock Purchase Plan, EVP Marketing & Sales, Beneficial Ownership