Elizabeth F. Whited - Jul 1, 2021 Form 4 Insider Report for UNION PACIFIC CORP (UNP)

Role: EVP & CHIEF HR OFFICER
Signature: By: Trevor L. Kingston, Attorney-in-Fact For: Elizabeth F. Whited
Stock symbol: UNP
Transactions as of: Jul 1, 2021
Transactions value $: -$708,699
Form type: 4
Date filed: 7/2/2021, 04:21 PM
Next filing: Aug 12, 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	UNP	Common Stock	Tax liability	-$709K	-3.17K	-22.32%	$223.55	11K	Jul 1, 2021	By Deferral Account	F1, F2
holding	UNP	Common Stock						38.7K	Jul 1, 2021	Direct
holding	UNP	Common Stock						27.8K	Jul 1, 2021	by Trust

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

Explanation of Responses:

Id	Content
F1	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.
F2	Represents conversion of restricted stock to fully vested stock units with a distribution ratio of 1:1 - payable only in shares of common stock on a date certain (July 1, 2021), which was selected in June of 2017. The shares disposed of, and reported in, column 4 represent shares withheld solely for tax purposes.