Union Pacific (UNP) Director Tien John K Jr Receives Award

What Happened Tien John K Jr, a director of Union Pacific Corporation (UNP), was granted 171 phantom stock units on 2026-10-01. The units are reported at a per-unit value of $272.42, totaling $46,584. This filing shows an award/acquisition (Form 4 code A) of derivative units rather than an open-market purchase of common shares.

Key Details

• Transaction date and filing date: 2026-10-01 (filed same day; timely).
• Grant: 171 Phantom Stock Units at $272.42 per unit; total reported value $46,584.
• Shares owned after transaction: not reported on the Form 4.
• Footnotes:
  • F1: Distribution ratio for Phantom Stock Units is 1:1.
  • F2: Phantom Stock Units are payable in cash only commencing at retirement.
• Transaction type: Derivative award (phantom stock), Form 4 code A.

Context Phantom stock units are a cash-settled long-term compensation vehicle tied to the company’s share value; they do not represent actual shares, do not convey voting rights, and are payable in cash when the holder retires per the filing. This award increases the director’s future cash exposure to UNP’s share performance but does not immediately change public share float.