UNION PACIFIC CORP — Director's Dealing 2024

Feb 16, 2024

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: UNION PACIFIC CORP (UNP)
CIK: 0000100885
Period of Report: 2024-02-14

Reporting Person: Whited Elizabeth F (PRESIDENT)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2024-02-14	Common Stock	S	3750	$246.36	Disposed	56681.9993	Direct
2024-02-14	Common Stock	M	3750	$161.57	Acquired	60431.9993	Direct
2024-02-15	Common Stock	S	3750	$250.0	Disposed	56681.9993	Direct
2024-02-15	Common Stock	M	3750	$161.57	Acquired	60431.9993	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2024-02-14	Non-Qualified Stock Option (right to buy)	$161.57	M	3750	Disposed	2029-02-07	Common Stock (3750)	Direct
2024-02-15	Non-Qualified Stock Option (right to buy)	$161.57	M	3750	Disposed	2029-02-07	Common Stock (3750)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	14517.9047	Indirect
Common Stock	23604	Indirect

Footnotes

F1: This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on October 24, 2023.

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.