UNION PACIFIC CORP — Director's Dealing 2016

Feb 3, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: UNION PACIFIC CORP (UNP)
CIK: 0000100885
Period of Report: 2016-02-02

Reporting Person: BUTLER ERIC L (EVP MKTG & SALES)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-02-02	Common Stock	F	742.0	$71.71	Disposed	203152	Direct
2016-02-02	Common Stock	F	280.0	$71.71	Disposed	202872	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2417.5284	Indirect
Common Stock	611.6372	Indirect

Footnotes

F1: Transfer of shares for additional tax withholding purposes.

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.