Summary
This 8-K filing from Union Pacific Corporation (UNP), dated November 23, 2011, primarily discloses the establishment of a prearranged trading plan by Robert M. Knight, Jr., the Executive Vice President – Finance and Chief Financial Officer. This plan, established under Rule 10b5-1, is designed for personal asset diversification, tax, and financial planning. The plan allows for the sale of up to 20,000 shares of Union Pacific common stock, which represents approximately 5% of Mr. Knight's beneficial ownership. Importantly, after these sales, Mr. Knight will continue to hold shares well in excess of the company's executive stock ownership guidelines, indicating continued commitment to the company's performance. All transactions under this plan will be publicly disclosed via Form 4 filings.
Key Highlights
- 1CFO Robert M. Knight, Jr. established a Rule 10b5-1 trading plan.
- 2The plan allows for the sale of up to 20,000 shares of Union Pacific common stock.
- 3This represents approximately 5% of Mr. Knight's beneficial ownership.
- 4The trading plan is for personal asset diversification, tax, and financial planning.
- 5Post-sale, Mr. Knight will still own shares exceeding company executive stock ownership guidelines.
- 6Any transactions under the plan will be reported on Form 4 filings.