MICHAEL R. MCCARTHY - 02 Jan 2025 Form 4 Insider Report for UNION PACIFIC CORP (UNP)

Role: Director
Signature: By: Trevor L. Kingston, Attorney-in-Fact For: Michael R. McCarthy
Issuer symbol: UNP
Transactions as of: 02 Jan 2025
Net transactions value: +$213,998
Form type: 4
Filing time: 03 Jan 2025, 15:26:44 UTC
Previous filing: 03 Oct 2024
Next filing: 02 Apr 2025
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	$213,998	+934	+1.4%	$229.12	67,374	02 Jan 2025	Common Stock	934	$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.