Edison Sheri H. 4

What Happened

• Sheri H. Edison, a director of Union Pacific Corp (UNP), received an award of 175 phantom stock units on 2026-07-01. The units were reported at an acquisition value of $277.73 each, totaling $48,603. The Form 4 lists this as a derivative award (transaction code A).

Key Details

• Transaction date and price: 2026-07-01 at $277.73 per unit (175 units; total $48,603).
• Security type: Phantom Stock Units (derivative award), distribution ratio 1:1 (Footnote F1).
• Payout terms: Phantom Stock Units are payable in cash only commencing at retirement (Footnote F2).
• Shares owned after transaction: Not specified in the provided filing details.
• Filing date: 2026-07-02 (filed one day after the transaction), indicating the report appears timely.
• Transaction code: A = Award/Grant (derivative), not an open‑market purchase or sale.

Context

• Phantom stock units are a form of cash‑settled compensation that track the value of the company’s shares but do not represent actual common stock or voting rights until paid out. Grants to directors are common as part of compensation/retention programs and should be viewed as routine executive compensation rather than a direct buy/sell signal.