Gehringer Eric J 4

What Happened Eric J. Gehringer, EVP – Operations at Union Pacific (UNP), acquired 13.988 shares on 2026-03-10 at $250.21 per share, for a reported total of $3,500. The transaction is reported as an award/acquisition (Form 4 code A) and is described as a purchase under the company's 2021 Employee Stock Purchase Plan.

Key Details

• Transaction date: 2026-03-10; Filing date: 2026-03-11 (timely).
• Shares acquired: 13.988 at $250.21 each; reported total value ≈ $3,500.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnotes:
  • F1: Purchase pursuant to the 2021 Employee Stock Purchase Plan (ESPP).
  • F2: Notes 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.
• Filing appears timely (no late filing indicator).

Context This was a routine, small-dollar ESPP acquisition rather than a large open-market buy or exercise/sale. ESPP purchases are common for employees and often reflect regular payroll-based contributions instead of a discrete bullish bet. The F2 note indicates the company uses stock-unit conversions for certain restricted awards, which are payable only in shares.