UNION PACIFIC CORP — Director's Dealing 2020

Jan 22, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: UNION PACIFIC CORP (UNP)
CIK: 0000100885
Period of Report: 2020-01-21

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-01-21	Common Stock	M	5000	$75.52	Acquired	69657	Direct
2020-01-21	Common Stock	F	2038	$185.32	Disposed	67619	Direct
2020-01-21	Common Stock	F	857	$185.32	Disposed	66762	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-01-21	Non-Qualified Stock Option (right to buy)	$75.52	M	5000	Disposed	2026-02-04	Common Stock (5000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3151.8614	Indirect

Footnotes

F1: 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.

F2: This option became exercisable in three equal installments starting one year from the grant date.