Form 4: Union Pacific Executive Todd M. Rynaski Reports Stock Transactions

Todd M. Rynaski, Chief Accounting, Risk & Compliance Officer of Union Pacific, reports a stock purchase and conversion of restricted stock units.

Summary

• On March 10, 2024, Todd M. Rynaski, Chief Accounting, Risk & Compliance Officer of Union Pacific Corp, reported a transaction involving Union Pacific common stock.
• Rynaski purchased 8.507 shares of common stock at a price of $250.96 per share through the 2021 Employee Stock Purchase Plan.
• Additionally, Rynaski converted restricted stock units into 2,333.438 fully vested stock units with a 1:1 distribution ratio, payable in common stock upon termination of employment or a date certain.
• Following these transactions, Rynaski directly owns 8,864.9138 shares of Union Pacific common stock.
• Rynaski also has indirect ownership through a deferral account (2,333.438 shares), spouse (586 shares), and a trust (18,004 shares).

Sentiment

Score: 6

Explanation: Neutral sentiment. The transactions are routine and don't indicate any significant positive or negative outlook.

Positives

• Executive participation in the Employee Stock Purchase Plan indicates confidence in the company's future.
• Conversion of restricted stock units to vested stock units aligns executive interests with shareholder value.

Future Outlook

The vested stock units are payable only in shares of common stock at termination of employment or a date certain.

Industry Context

Executive stock transactions are common and are often viewed as a signal of management's confidence in the company's prospects. Monitoring these transactions can provide insights into executive sentiment.

Comparison to Industry Standards

• Comparing Rynaski's holdings and transactions to those of executives at similar companies like Norfolk Southern (NSC) or CSX Corporation (CSX) could provide a benchmark for executive compensation and stock ownership.
• Employee stock purchase plans are a common benefit, but the participation rate and the terms of restricted stock unit conversions can vary significantly across the industry.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect routine executive compensation and stock ownership adjustments.
• Employees participating in the stock purchase plan benefit from the opportunity to acquire company stock at potentially favorable terms.

Key Dates