UNION PACIFIC CORP — Director's Dealing 2021

Dec 7, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: UNION PACIFIC CORP (UNP)
CIK: 0000100885
Period of Report: 2021-12-06

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-12-06	Common Stock	M	2510	$122.85	Acquired	36620.8865	Direct
2021-12-06	Common Stock	S	2510	$245.0	Disposed	34110.8865	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-12-06	Non-Qualified Stock Option (right to buy)	$122.85	M	2510	Disposed	2025-02-05	Common Stock (2510)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	11206.6577	Indirect
Common Stock	35640	Indirect

Footnotes

F1: This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on October 28, 2021.

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 became exercisable in three equal installments starting one year from the grant date.