Conlin Christina B 4

What Happened
Christina B. Conlin, EVP & Chief Legal Officer of Union Pacific (UNP), acquired 6.601 shares on February 10, 2026, at a reported price of $261.32 per share, for a total value of approximately $1,725. The transaction is coded as an acquisition/award (A), and the shares were purchased under the company's Employee Stock Purchase Plan.

Key Details

• Transaction date and price: 2026-02-10 at $261.32 per share.
• Shares acquired: 6.601; total value ≈ $1,725.
• Shares owned after transaction: not disclosed in this Form 4 filing.
• Footnote: Purchase pursuant to the 2021 Employee Stock Purchase Plan (F1).
• Filing timeliness: Form lists the transaction date as 2026-02-10 and was filed the same day (no late filing indicated).

Context
An ESPP purchase is a routine employee benefit that allows employees to buy company stock—often at a discount—through payroll deductions. This small-dollar purchase appears to be a routine participation in the plan rather than a material insider trade. Purchases by insiders can be interpreted by investors as a positive signal, but they are not definitive evidence of future company performance.