UNION PACIFIC CORP — Director's Dealing 2023

Aug 24, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: UNION PACIFIC CORP (UNP)
CIK: 0000100885
Period of Report: 2023-08-23

Reporting Person: Rocker Kenyatta G (EVP MARKETING & SALES)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-08-21	Common Stock	G	90	$0.0	Disposed	46581.2847	Direct
2023-08-23	Common Stock	S	4520	$222.4145	Disposed	42061.2847	Direct
2023-08-23	Common Stock	M	4180	$107.3	Acquired	46241.2847	Direct
2023-08-23	Common Stock	S	4180	$222.4365	Disposed	42061.2847	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-08-23	Non-Qualified Stock Option (right to buy)	$107.3	M	4180	Disposed	2027-02-02	Common Stock (4180)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	350	Indirect
Common Stock	1980.4162	Indirect
Common Stock	1110.2745	Indirect

Footnotes

F1: The reporting person made a charitable contribution to a non-affiliated entity.

F2: This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on May 22, 2023.

F3: This transaction was executed in multiple trades at prices ranging from $221.92 to $222.83. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

F4: Includes holdings in Union Pacific's Payroll-based and Tax-reduction stock ownership plans and 401(k) plan.

F5: This option became exercisable in three equal installments starting one year from the grant date.