Union Pacific (UNP) Director Michael R. McCarthy Receives Award

What Happened

• Michael R. McCarthy, a director of Union Pacific Corporation (UNP), received a grant of 839 Phantom Stock Units on 2026-10-01. The units are reported at a per-unit value of $272.42, for a total value of $228,560. This transaction is an award/grant (derivative), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-10-01; Transaction type/code: A (Award/Grant, derivative)
• Units granted: 839 Phantom Stock Units; per-unit value: $272.42; total reported value: $228,560
• Shares/units owned after the transaction: not disclosed in the filing
• 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: reported on 2026-10-01 (no late filing indicated)

Context

• These are phantom stock units (a derivative compensation award) that track the value of the company’s stock but do not represent immediate ownership of shares. According to the filing, they will be paid in cash at retirement on a 1:1 basis, so they are deferred compensation rather than immediate equity. Such grants are common for directors and should be viewed as compensation, not a direct market buy signal.