Form 4: Union Pacific EVP Jennifer Hamann Reports Stock Transactions

Jennifer Hamann, EVP & CFO of Union Pacific, reports acquisition and disposal of company stock and derivative securities.

Summary

• Jennifer Hamann, the EVP & Chief Financial Officer of Union Pacific Corp, filed a Form 4 detailing changes in beneficial ownership.
• On February 6, 2025, Hamann disposed of 6,753 shares of common stock and 5,525 shares of common stock due to conversion of restricted stock units, both at a price of $0.0.
• Hamann also acquired 14,784 shares of common stock through a performance retention unit award and 5,525 shares of common stock through a deferral account, both at a price of $0.0.
• Following these transactions, Hamann directly owns 109,056.8036 shares of common stock and indirectly owns 5,525 shares through a deferral account.
• Hamann also acquired 24,639 non-qualified stock options with an exercise price of $243.51, exercisable in three equal installments starting February 6, 2026, and expiring on February 6, 2035.

Sentiment

Score: 6

Explanation: The sentiment is neutral. There are both acquisitions and disposals of stock, suggesting a mixed view. The acquisition of stock options and performance retention units is generally positive, but the disposal of shares tempers the overall sentiment.

Positives

• The acquisition of 14,784 shares through a performance retention unit award suggests confidence in the company's future performance.
• The acquisition of 5,525 shares of common stock through a deferral account suggests confidence in the company's future performance.
• The acquisition of 24,639 non-qualified stock options suggests confidence in the company's future performance.

Negatives

• The disposal of 6,753 shares of common stock could be interpreted negatively, although it may be for personal financial planning reasons.
• The disposal of 5,525 shares of common stock due to conversion of restricted stock units could be interpreted negatively, although it may be for personal financial planning reasons.

Risks

• The actual number of shares paid out at vesting for the performance retention unit award depends on applicable performance criteria being met, introducing uncertainty.

Future Outlook

The performance retention unit award is payable only in shares of common stock with a three-year vesting period, and the actual number of shares paid out depends on applicable performance criteria being met.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders. These filings are closely watched by investors to gauge management's sentiment and confidence in the company's prospects.

Comparison to Industry Standards

• Comparing Jennifer Hamann's stock transactions with those of CFOs at peer companies like Norfolk Southern (NSC) or CSX Corporation (CSX) could provide a broader context.
• Analyzing the vesting schedules and performance criteria of similar performance-based equity awards at these companies would offer a benchmark for Union Pacific's compensation practices.
• Reviewing the overall insider trading activity (Form 4 filings) at these comparable companies can indicate general sentiment within the railroad industry.

Stakeholder Impact

• The transactions may have a minor impact on shareholders' perception of management's confidence in the company.
• Employees may view the performance retention unit award as a positive incentive.

Key Dates

Keywords

Form 4, beneficial ownership, stock options, stock, Jennifer Hamann, Union Pacific, UNP, EVP, CFO