Summary
This Form 8-K filing by Union Pacific Corporation (UNP) on April 21, 2006, primarily discloses the adoption of a Rule 10b5-1 trading plan by Chairman Richard K. Davidson. The plan authorizes the sale of 175,000 shares of Company common stock, with sales commencing on or after May 19, 2006, through a brokerage firm. This action is intended to comply with the company's Stock Ownership Policy and securities regulations. Investors should note that while this specific plan details the Chairman's intention to sell a portion of his holdings, the company's policy allows for such plans to be established by executives during open trading windows. Future transactions under this and other executive plans will be reported on Form 144 and Form 4 filings. The company emphasizes that this is a forward-looking statement and advises investors to consult the 2005 Form 10-K for a comprehensive understanding of risk factors.
Key Highlights
- 1Chairman Richard K. Davidson has adopted a Rule 10b5-1 trading plan.
- 2The plan allows for the sale of 175,000 shares of Union Pacific Corporation common stock.
- 3Sales are scheduled to begin on or after May 19, 2006.
- 4The brokerage firm will execute the stock sales.
- 5The plan is designed to comply with the company's Stock Ownership Policy and SEC Rule 10b5-1.
- 6Transactions under the plan will be reported on Form 144 and Form 4 filings.
- 7The company does not undertake to disclose specific plans by other executives or modifications to existing plans.