The stock of Union Pacific has outperformed its peers this year, and CEO Jim Vena recently made a significant investment in the freight-railroad operator. With a year-to-date gain of about 13%, Union Pacific has surpassed Canadian National Railway, Canadian Pacific Kansas City, CSX, and Norfolk Southern.
Vena’s purchase of 4,500 Union Pacific shares on November 21st, at an average price of $222 each, amounted to a total of $1 million. The Securities and Exchange Commission filing on December 11th revealed that Vena now owns 5,106 Union Pacific shares. This purchase was executed through a Rule 10b5-1(c) plan, which triggers trades based on pre-determined parameters. Vena had established this plan on August 22nd.
Union Pacific stated in an email that “The purchase represents Jim’s strong belief in the company’s long-term financial success.”
This purchase marks Vena’s first acquisition of Union Pacific stock on the open market since his return to the company. As Chief Operating Officer (COO), his previous stock purchase occurred at the end of February 2020 when he acquired 3,206 shares for $500,000 at an average price of $155.92. At that time, the purchase was conducted through a trust controlled by Vena.
This new investment highlights Vena’s confidence in Union Pacific’s future.
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