CHRISTOPHER J. WILLIAMS - 01 Jul 2021 Form 4 Insider Report for UNION PACIFIC CORP (UNP)

Role: Director
Signature: By: Trevor L. Kingston, Attorney-in-Fact For: Christopher J. Williams
Issuer symbol: UNP
Transactions as of: 01 Jul 2021
Net transactions value: $0
Form type: 4
Filing time: 06 Jul 2021, 12:19:28 UTC
Previous filing: 02 Jul 2021
Next filing: 02 Aug 2021
SEC: View on sec.gov

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	UNP	Phantom Stock	Award	$0	+188	+9.5%	$0.000000	2,164	01 Jul 2021	Common Stock	188	$0.000000	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Distribution ratio for Phantom Stock Units is 1:1.
F2	Phantom Stock Units are payable in cash only commencing at retirement.