Tien John K Jr 4

What Happened John K. Tien Jr. (listed in the filing as Tien John K Jr), a director of Union Pacific Corporation (UNP), received a grant of 189 phantom stock units on April 1, 2026. The units are recorded at $243.12 each, for a reported value of $45,950. This was an award/grant (derivative award), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-04-01; Grant type: Award/Acquisition (code A)
• Units granted: 189 phantom stock units; per-unit value shown: $243.12; total reported value: $45,950
• Shares/units owned after transaction: Not specified in the provided filing details
• Footnotes: F1 — distribution ratio is 1:1; F2 — phantom stock units are payable in cash only commencing at retirement
• Filing: Reported on Form 4 with accession 0000100885-26-000114 (filed 2026-04-02); filing appears timely (within standard Form 4 reporting window)

Context Phantom stock units are a cash-settled form of equity compensation: they mirror the economic value of shares but do not represent actual stock ownership or voting rights. According to the filing, these units will be paid in cash beginning at the director’s retirement, so this award provides future cash compensation tied to UNP’s share value rather than immediate equity. This type of grant is common for non-employee directors and should be viewed as compensation rather than a direct buy or sell signal.