Gehringer Eric J 4

What Happened
Eric J. Gehringer, EVP Operations at Union Pacific (UNP), reported a small net acquisition and multiple zero-dollar dispositions. On Feb 10, 2026 he acquired 13.394 shares at $261.32 each for a total of $3,500 (reported as an acquisition/award). On Feb 9, 2026 the filing shows dispositions to the issuer of 7,589 shares at $0.00 and other acquisition/disposition entries of 5,725 shares at $0.00 (one shown as disposed, one as acquired), each recorded with $0 consideration.

Key Details

• Transaction dates and amounts:
  • 2026-02-09: Disposition to issuer (code D) — 7,589 shares @ $0.00 (disposed)
  • 2026-02-09: Other acquisition/disposition (code J) — 5,725 shares @ $0.00 (disposed)
  • 2026-02-09: Other acquisition/disposition (code J) — 5,725 shares @ $0.00 (acquired)
  • 2026-02-10: Grant/award/acquisition (code A) — 13.394 shares @ $261.32 = $3,500 (acquired)
• Shares owned after the transactions: Not specified in the provided filing data.
• Footnotes from the filing:
  • F1: Conversion of restricted stock units to fully vested stock units at a 1:1 ratio — payable only in shares at termination or a date certain (plan mechanics).
  • F2: Purchase was made pursuant to the 2021 Employee Stock Purchase Plan (ESPP) — applies to the paid acquisition.
• Filing timeliness: Reported on 2026-02-11 for transactions dated Feb 9–10, 2026 (filed within the typical two-business-day Form 4 window).

Context
The only cash-valued purchase here is the Feb 10 ESPP-related acquisition (~$3,500), which is small in dollar terms. The zero-dollar dispositions typically reflect plan mechanics such as conversion or share transfers within company plans (see F1), not open-market sales for cash. For retail investors, purchases under an ESPP and conversions of RSUs are routine compensation/benefit events and do not by themselves indicate a change in executive sentiment about the company.