Summary
Union Pacific Corporation (UNP) has disclosed through an 8-K filing on August 12, 2020, that its Executive Vice President and Chief Financial Officer, Jennifer L. Hamann, has established a prearranged trading plan for her company stock. This plan, effective August 12, 2020, was set up under Rule 10b5-1 of the Securities Exchange Act of 1934, aligning with the company's insider trading policies for long-term asset diversification and financial planning. The plan allows for the potential sale of up to 2,000 shares of UNP common stock, which represents a modest 2.7% of Ms. Hamann's total beneficial ownership. Importantly, even after executing sales under this plan, Ms. Hamann is expected to retain shares exceeding the company's executive stock ownership guidelines. All transactions executed under this plan will be publicly reported via Form 4 filings.
Key Highlights
- 1CFO Jennifer L. Hamann established a prearranged stock trading plan effective August 12, 2020.
- 2The plan is structured under Rule 10b5-1, a safe harbor provision for insider trading.
- 3The purpose of the plan is for long-term asset diversification and financial planning.
- 4Up to 2,000 shares of UNP common stock may be sold under the plan.
- 5This represents approximately 2.7% of the CFO's beneficial ownership.
- 6Post-sale, the CFO will continue to own shares in excess of company stock ownership guidelines.
- 7All trades made under the plan will be disclosed on Form 4 filings.