Form 4: Union Pacific EVP Craig V. Richardson Reports Stock Transactions

Craig V. Richardson, EVP and Chief Legal Officer of Union Pacific, reports the acquisition of common stock through an employee stock purchase plan and conversion of restricted stock units.

Summary

• On March 10, 2025, Craig V. Richardson, EVP and Chief Legal Officer & Corp of Union Pacific Corp, acquired 5.028 shares of common stock at a price of $248.29 per share through the 2021 Employee Stock Purchase Plan.
• Richardson also holds 9,117.717 shares of common stock indirectly through a deferral account.
• Additionally, restricted stock units were converted to fully vested stock units with a 1:1 distribution ratio, payable only in shares of common stock at termination of employment or a date certain.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it reports routine stock transactions. There are no indications of significant positive or negative events.

Positives

• The acquisition of shares through the employee stock purchase plan demonstrates management's confidence in the company.
• Conversion of restricted stock units to fully vested stock units increases the executive's alignment with shareholder interests.

Future Outlook

The document does not contain specific forward-looking statements regarding Union Pacific's future performance.

Industry Context

This filing is a routine disclosure of stock transactions by a company executive, which is common in publicly traded companies. It provides transparency into the executive's investment in the company's stock.

Comparison to Industry Standards

• Executive stock ownership is a common practice in publicly traded companies like Union Pacific.
• Companies such as Canadian National Railway (CNR) and Norfolk Southern (NSC) also have similar executive compensation and stock ownership structures.
• The Employee Stock Purchase Plan is a standard benefit offered by many large corporations to incentivize employee ownership.

Stakeholder Impact

• The stock transactions may have a minor positive impact on shareholder confidence due to the executive's increased investment in the company.

Key Dates