UNPUnion Pacific Corporation
Union Pacific Railroad Company is the principal operating company of Union Pacific Corporation. 10-K, Item 1
Deals between UNP and its directors, executives, owners of more than 5% or their families: a relative on the payroll, a plane the company charters from its CEO, a director's company that buys from it. SEC rules (Item 404) make the company list every such deal over $120,000 in its proxy statement. Below: what the proxy filed 2026-03-25 reports that the one filed 2025-03-25 did not, quoted as filed.
New this year
1 newParagraphs about a deal, a person or a relative with nothing like them in the proxy filed 2025-03-25.
Related Party Transactions in 2025“Since 1994, the Railroad has historically and routinely done business with Omaha Track, Inc. and its related companies (Omaha Track). Kelvin Whited, who became the Chief Financial Officer of Omaha Track in July 2015 and served in that role until April 2025, is the spouse of Elizabeth F. Whited, who was the Company’s President from August 2023 until May 8, 2025. Ms. Whited served as Special Advisor until her retirement from the Company on February 28, 2026.”
Read it in the proxy ↗
No longer reported 2 paragraphs of the proxy filed 2025-03-25 with nothing like them this year
Related Party Transactions in 2024“April Rocker, Senior Manager Signal Design, is the spouse of Kenny G. Rocker, who became the Company’s Executive Vice President Marketing and Sales on August 15, 2018. Ms. Rocker has been employed by the Railroad since March 1, 2004. Ms. Rocker’s taxable compensation from the Railroad in 2024 was $159,193.”
Read it in last year's proxy ↗
Related Party Transactions in 2024“These transactions were approved by the Corporate Governance, Nominating and Sustainability Committee pursuant to the Company’s Related Party Policy.”
Read it in last year's proxy ↗
The whole section 5 paragraphs, proxy filed 2026-03-25
“Under the Related Party Policy, the Committee has pre-approved certain transactions. Such transactions include (i) any transaction with another company at which a related party’s only relationship is as an employee (other than an executive officer), direct or beneficial owner of less than 10% of that company’s shares, if the aggregate amount involved does not exceed the greater of $1 million or 2% of that company’s total annual revenues and the related party does not otherwise have a direct economic interest in the transaction; and (ii) any charitable contribution, grant or endowment by the Company or the Company’s foundation to a charitable organization, foundation, or university at which a related party’s only relationship is as an employee (other than an executive officer) or a director, if the aggregate amount involved does not exceed the lesser of $1 million or 2% of the charitable organization’s total annual receipts.”
Read it in the proxy ↗
“Additionally, the Board has delegated to the Chair of the Committee the authority to approve any transaction with any related party where the aggregate amount involved is expected to be less than $1 million. At each regularly scheduled meeting of the Committee, a summary of each new transaction approved is provided to the Committee for its review.”
Read it in the proxy ↗
Related Party Transactions in 2025“Since 1994, the Railroad has historically and routinely done business with Omaha Track, Inc. and its related companies (Omaha Track). Kelvin Whited, who became the Chief Financial Officer of Omaha Track in July 2015 and served in that role until April 2025, is the spouse of Elizabeth F. Whited, who was the Company’s President from August 2023 until May 8, 2025. Ms. Whited served as Special Advisor until her retirement from the Company on February 28, 2026.”
Read it in the proxy ↗
Related Party Transactions in 2025“In 2025, the Railroad paid Omaha Track or its affiliates approximately $21 million for tie disposal services, on-track scrap metal removal, and railcar repairs. All of these transactions are managed by the Railroad’s Supply Department and Ms. Whited had no involvement in these matters.”
Read it in the proxy ↗
Related Party Transactions in 2025“Omaha Track has been a transload provider to customers of the Railroad for transload shipments of various materials. The Railroad paid Omaha Track approximately $3.3 million in 2025 in connection with these transload services. Ms. Whited is not involved in any commercial or rate discussions involving Omaha Track.”
Read it in the proxy ↗
Paragraphs are compared by their words, not read by AI: one counts as new when no paragraph last year shares half of its words, or when it names a person or company last year's section did not. A deal reported again with a new amount is not new. Always check the filing. Open the proxy ↗ · Last year's proxy ↗
Work on UNP in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
CSV.
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