UNION PACIFIC CORP — Director's Dealing 2016

Dec 2, 2016

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: UNION PACIFIC CORP (UNP)
CIK: 0000100885
Period of Report: 2016-12-01

Reporting Person: Whited Elizabeth F (EVP & CHIEF MARKETING OFFICER)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	44529	Direct
Common Stock	1323.5304	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Non-Qualified Stock Option (right to buy)	$23.64	2019-02-05	Common Stock (1000)		Direct
Non-Qualified Stock Option (right to buy)	$30.49	2020-02-04	Common Stock (1000)		Direct
Non-Qualified Stock Option (right to buy)	$31.19	2018-01-31	Common Stock (3000)		Direct
Non-Qualified Stock Option (right to buy)	$46.8	2021-02-03	Common Stock (4782)		Direct
Non-Qualified Stock Option (right to buy)	$57.37	2022-02-02	Common Stock (5886)		Direct
Non-Qualified Stock Option (right to buy)	$66.0	2023-02-07	Common Stock (9612)		Direct
Non-Qualified Stock Option (right to buy)	$75.52	2026-02-04	Common Stock (20070)		Direct
Non-Qualified Stock Option (right to buy)	$87.56	2024-02-06	Common Stock (8826)		Direct
Non-Qualified Stock Option (right to buy)	$122.85	2025-02-05	Common Stock (9510)		Direct

Footnotes

F1: Includes unvested restricted stock units and unvested Long Term Plan performance units.

F2: Represents conversion of restricted stock units to fully vested stock units with a distribution ratio of 1:1 - Payable only in shares of common stock at termination of employment or a date certain.

F3: This option becomes exercisable in three equal installments starting one year from the grant date.