Summary
Union Pacific Corporation (UNP) announced the adoption of a written trading plan under Rule 10b5-1 of the Securities Exchange Act of 1934. This plan is designed to facilitate the company's previously announced share repurchase program, authorized by the Board of Directors on January 30, 2007. The trading plan will allow Union Pacific to continue repurchasing its stock during periods when it might otherwise be restricted from trading, such as during blackout periods or due to insider trading regulations. Under the plan, a selected broker will be authorized to execute share repurchases on behalf of the company within specified terms and limitations. Purchases are scheduled to begin on March 19, 2007. This initiative underscores the company's commitment to returning capital to shareholders through its buyback program, with flexibility to adjust future repurchases based on market conditions and management discretion. Investors can expect ongoing updates on share repurchase activities through the company's periodic SEC filings.
Key Highlights
- 1Union Pacific Corporation adopted a Rule 10b5-1 trading plan on March 14, 2007.
- 2The plan is part of the company's share repurchase program authorized by the Board of Directors on January 30, 2007.
- 3Share repurchases under the plan are set to commence on March 19, 2007.
- 4The Rule 10b5-1 plan allows for stock repurchases during periods when the company might otherwise be restricted from trading.
- 5A third-party broker will execute trades under the plan's terms and limitations.
- 6The company may enter into subsequent trading plans in the future to continue share repurchases.
- 7Union Pacific will continue to make discretionary repurchases in the open market or through private transactions.