Gehringer Eric J 4

What Happened
Eric J. Gehringer, Executive Vice President — Operations at Union Pacific (UNP), reported the sale of 2,991 shares on 2026-06-03. The shares were disposed at $263.96 each, for a total proceeds of $789,504. This filing reports a sale (code S), which is often routine insider selling and not an explicit bullish signal.

Key Details

• Transaction date and price: 2026-06-03 — 2,991 shares sold at $263.96 per share.
• Total value: $789,504 (proceeds).
• Transaction type: Sale (open market or private sale as reported).
• Shares owned after transaction: Not reported in this Form 4.
• Footnote: F1 indicates conversion of restricted stock units (RSUs) to fully vested stock units at a 1:1 ratio; these are payable only in shares of common stock at termination of employment or on a date certain.
• Timeliness: Report filed 2026-06-04 for a 2026-06-03 transaction (no late filing indicated).

Context
This is a straightforward disposition of stock by a senior executive. Sales can be for many personal reasons (taxes, diversification, liquidity) and do not by themselves indicate company outlook. The footnote about RSU conversion simply explains how certain equity awards convert to shares and may relate to the source of sold shares; it does not indicate additional options activity.