Recent 8-K filings for UNP

• May 18, 2026, 4:15 PM ET other material materiality 0.05 neutral item 5.07

  Union Pacific shareholders elect 11 directors, ratify auditor, approve say on pay at 2026 annual meeting

  Quorum of 90.76% (538,870,394 of 593,678,300 shares) present at May 14, 2026 annual meeting.

• April 23, 2026, 7:59 PM ET earnings materiality 0.80 positive item 2.02item 9.01 ◈ Earnings Releases

  Union Pacific Q1 adjusted EPS $2.93 vs $2.70 YoY; revenue up 3% to $6.2B

  Reported net income $1.7B, diluted EPS $2.87; adjusted EPS $2.93 vs $2.70 in Q1 2025.

• January 27, 2026, 6:59 PM ET earnings materiality 0.75 neutral item 2.02item 9.01

  Union Pacific Q4 reported EPS $3.11; full year net income up 6%; 2026 EPS growth mid-single digit

  Q4 reported net income $1.8B, EPS $3.11; adjusted EPS $2.86 vs $2.96 YoY. Revenue $6.1B down 1%.

• December 19, 2025, 6:59 PM ET M&A materiality 0.90 positive item 7.01item 9.01

  Union Pacific and Norfolk Southern file STB merger application to create first transcontinental railroad

  Filing submitted Dec 19, 2025; nearly 7,000 pages; includes 2,000 letters of support and 99% shareholder votes in favor.

• December 12, 2025, 6:59 PM ET leadership materiality 0.35 neutral item 5.02item 7.01item 9.01

  Union Pacific appoints W. Anthony Will to board effective Jan. 5, 2026

  Will is retiring as CEO and President of CF Industries on Jan. 4, 2026, then serving as senior advisor through March 15.

• November 17, 2025, 6:59 PM ET M&A materiality 0.95 positive item 5.07item 8.01

  Union Pacific shareholders approve Norfolk Southern merger; 99.5% votes in favor

  99.5% of votes cast (465.9M for, 2.2M against) approved share issuance for Norfolk Southern merger.

• November 6, 2025, 6:59 PM ET other material materiality 0.50 neutral item 8.01

  Union Pacific and Norfolk Southern supplement merger proxy after shareholder lawsuits

  Three lawsuits filed in NY Supreme Court challenging merger disclosure; Union Pacific and Norfolk Southern deny claims.

• October 23, 2025, 7:59 PM ET earnings materiality 0.80 positive item 2.02item 9.01

  Union Pacific Q3 adjusted EPS $3.08, revenue $6.2B; OR improves 180 bps

  Adjusted diluted EPS of $3.08, up from $2.75 in prior year; reported EPS $3.01.

• September 10, 2025, 7:59 PM ET other material materiality 0.60 neutral item 7.01

  Union Pacific CFO: Q3 productivity strong; $50M merger fees; buyback paused

  CFO Jennifer Hamann expects continued network fluidity to drive strong Q3 productivity.

• July 29, 2025, 7:59 PM ET M&A materiality 1.00 positive item 8.01item 9.01

  Union Pacific to acquire Norfolk Southern for $85B enterprise value, creating first transcontinental railroad

  Deal values Norfolk Southern at $320/share (1.0 UNP share + $88.82 cash), 25% premium to 30-day VWAP.

• July 29, 2025, 7:59 PM ET M&A materiality 1.00 neutral item 1.01item 9.01

  Union Pacific to acquire Norfolk Southern for 1 UNP share + $88.82 cash per NSC share

  Each Norfolk Southern share exchanged for 1 Union Pacific share plus $88.82 cash.

• July 24, 2025, 7:59 PM ET earnings materiality 0.75 positive item 2.02item 9.01

  Union Pacific Q2 EPS $3.15 vs $2.74 YoY; revenue $6.2B up 2%

  Diluted EPS of $3.15 (GAAP); adjusted EPS $3.03; net income $1.9B vs $1.7B YoY.

• July 24, 2025, 7:59 PM ET M&A materiality 0.75 neutral item 7.01item 9.01

  Union Pacific and Norfolk Southern confirm advanced merger discussions

  Union Pacific (UNP) and Norfolk Southern (NSC) disclosed advanced talks for a potential business combination on July 24, 2025.

• May 9, 2025, 7:59 PM ET other materiality 0.15 neutral item 5.07

  Union Pacific shareholders elect directors, ratify Deloitte, approve say on pay, reject clawback proposal

  All 11 director nominees elected; votes for ranged from 448,028,387 (McCarthy) to 465,200,198 (Finley).

• May 9, 2025, 7:59 PM ET leadership materiality 0.50 neutral item 5.02item 7.01item 9.01 ◈ executive_change ×3

  Union Pacific President Beth Whited to step down effective July 1; new Principal Accounting Officer named

  Beth Whited transitions from President to Strategic Advisor effective July 1, 2025; will advise through early 2026.

• April 24, 2025, 7:59 PM ET earnings materiality 0.60 neutral item 2.02item 9.01

  Union Pacific Q1 EPS flat at $2.70, revenue flat at $6.0B; volume up 7%

  Net income $1.6B ($2.70 diluted EPS) vs $1.6B ($2.69) year ago; EPS unchanged.

• February 18, 2025, 6:59 PM ET other material materiality 0.70 positive item 7.01

  Union Pacific establishes $1.5B accelerated share repurchase programs

  ASRs with Barclays and Citi for $1.5B aggregate; ~4.8M shares received on Feb 18, 2025.

• February 13, 2025, 6:59 PM ET debt materiality 0.55 neutral item 8.01item 9.01

  Union Pacific issues $2B in notes: $1B at 5.100% (2035) and $1B at 5.600% (2054)

  Issued $1B 5.100% Notes due 2035 and $1B 5.600% Notes due 2054 via underwritten public offering.

• January 23, 2025, 6:59 PM ET earnings materiality 0.75 positive item 2.02item 9.01

  Union Pacific Q4 EPS $2.91 (+7% YoY); FY EPS $11.09 (+6%); operating ratio improves

  Q4 operating revenue $6.1B (-1% YoY) on volume +5% and core pricing, offset by lower fuel surcharge.

• October 24, 2024, 7:59 PM ET earnings materiality 0.75 positive item 2.02item 9.01

  Union Pacific Q3 EPS $2.75 beats prior year $2.51; operating income up 11%

  Diluted EPS $2.75, up 10% from $2.51; net income $1.7B, up 9% from $1.5B.

• September 19, 2024, 7:59 PM ET other material materiality 0.60 neutral item 7.01

  Union Pacific sets 3-year targets: EPS CAGR high single to low double digits, $4-5B buybacks from 2025

  Revenue (ex-fuel) to grow faster than volume (ex-coal) and outpace served markets over 3 years.

• July 25, 2024, 7:59 PM ET earnings materiality 0.75 positive item 2.02item 9.01

  Union Pacific Q2 EPS $2.74, up 7%; operating income up 9%

  Q2 2024 diluted EPS $2.74, up 7% YoY vs $2.57; net income $1.7B vs $1.6B.

• May 10, 2024, 7:59 PM ET other materiality 0.15 neutral item 5.07 ◈ Shareholder Votes ×5

  Union Pacific shareholders elect all 12 directors, approve say-on-pay, reject two proposals

  All 12 incumbent directors elected; lowest vote total was McCarthy with 445.6M for vs 25.9M against.

• April 25, 2024, 7:59 PM ET earnings materiality 0.75 positive item 2.02item 9.01 ◈ Earnings Releases

  Union Pacific Q1 EPS $2.69 (+1%); operating income record $2.4B, OR improves 140 bps

  Net income $1.6B ($2.69 diluted EPS), up 1% from $2.67 YoY; revenue flat at $6.0B.

Executive changes

Earnings & guidance

Materiality & sentiment trend

Max materiality 1.00 · Median 0.75 · Most common event earnings

11 positive 0 negative 13 neutral

source · UNP on sec.gov