X0303 4 2008-10-01 0 0000100885 UNION PACIFIC CORP UNP 0001241205 DONOHUE THOMAS J 1615 H STREET NW WASHINGTON DC 20062-2000 1 0 0 0 Phantom Stock 0 2008-10-01 4 A 0 422 0 A Common Stock 422 17136 D Distribution ratio for Phantom Stock Units is 1:1. Phantom Stock Units are payable in cash only commencing at retirement. On May 28, 2008, Union Pacific Corporation effected a 2-for-1 stock split in the form of a stock dividend. Amounts of securities and the grant price or prices with respect to options, if any, and restricted stock or restricted stock units, if any, reported on this form have been adjusted to reflect the stock split. By: Trevor L. Kingston, Attorney-in-Fact For: Thomas J. Donohue 2008-10-02