Tien John K Jr 4

What Happened

• Tien John K Jr, a director of Union Pacific Corporation (UNP), was granted 166 phantom stock units on 2026-07-01. The grant is reported as a derivative award (code A) with an implied per-unit value of $277.73, totaling $46,103.
• This was an award (not an open-market purchase or sale). Phantom stock units are cash-settled and become payable starting at retirement, so this does not represent immediate share ownership or a sale.

Key Details

• Transaction date and terms: 2026-07-01; 166 units @ $277.73 each; total value $46,103 (reported as a derivative acquisition).
• Shares owned after transaction: Not disclosed in the provided filing excerpt.
• Footnotes: F1 — distribution ratio for Phantom Stock Units is 1:1. F2 — Phantom Stock Units are payable in cash only commencing at retirement.
• Filing timeliness: Report filed 2026-07-02 for a 2026-07-01 transaction (appears to be timely).

Context

• Phantom stock units are a form of deferred cash compensation tied to share value; they mirror equity value but are typically settled in cash at a future date (here, at retirement). Such awards are common for directors and are compensation, not an immediate purchase signal.