UNION PACIFIC CORP — Director's Dealing 2021

Oct 28, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: UNION PACIFIC CORP (UNP)
CIK: 0000100885
Period of Report: 2021-10-27

Reporting Person: FRITZ LANCE M (CHAIRMAN PRESIDENT & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-10-26	Common Stock	G	5000	$0.0	Disposed	497686.4479	Direct
2021-10-27	Common Stock	M	107643	$122.85	Acquired	605329.4479	Direct
2021-10-27	Common Stock	F	54935	$240.72	Disposed	550394.4479	Direct
2021-10-27	Common Stock	F	23165	$240.72	Disposed	527229.4479	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-10-27	Non-Qualified Stock Option (right to buy)	$122.85	M	107643	Disposed	2025-02-05	Common Stock (107643)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	50227.4114	Indirect
Common Stock	82282	Indirect
Common Stock	21794	Indirect
Common Stock	48776	Indirect

Footnotes

F1: The reporting person made a gift of shares to a donor-advised charitable fund.

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.