Form 4: Union Pacific Executive Boosts Stake via ESPP

Union Pacific's EVP, Chief Legal Officer Christina B. Conlin acquired additional common stock through an employee stock purchase plan.

Summary

• Christina B. Conlin, Executive Vice President, Chief Legal Officer & Corporate Secretary of Union Pacific Corp (UNP), acquired 7.705 shares of common stock.
• The transaction occurred on November 10, 2025, at a price of $223.88 per share.
• This purchase was made pursuant to the company's 2021 Employee Stock Purchase Plan.
• Following this acquisition, Conlin beneficially owns a total of 5,226.297 shares of Union Pacific common stock.

Sentiment

Score: 6

Explanation: Slightly positive, as an executive's purchase of company stock, even a small amount through an ESPP, indicates continued confidence and alignment with shareholder interests.

Positives

• An executive is increasing their ownership stake in the company, demonstrating continued alignment of interests with shareholders.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This is a routine executive stock purchase through an employee plan, common across various industries, and does not provide specific insights into broader industry trends for the railroad sector.

Stakeholder Impact

• Shareholders: The transaction demonstrates an executive's continued investment in the company, potentially reinforcing confidence in management's alignment with shareholder interests.
• Employees: Participation in the Employee Stock Purchase Plan highlights the availability and utilization of such benefit programs for company personnel.

Key Dates

Keywords

Union Pacific, UNP, Christina B. Conlin, Stock Purchase, Insider Trading, SEC Form 4, Employee Stock Purchase Plan, Executive Ownership