(The Associated Press circulated the following on May 24.)
NEW YORK — John Koraleski, executive vice president of marketing and sales for rail and freight company Union Pacific Corp., exercised options on 200 shares, and sold 20,286 shares the same day under a prearranged trading plan, according to a document filed with the Securities and Exchange Commission on Tuesday.
In a Form 4 filed with the SEC, Koraleski reported he exercised options to buy 200 shares for $55 a piece. The same day he sold 20,286 shares for $119.43 to $119.80 each.
The stock sale was conducted under a prearranged 10b5-1 trading plan which allows company insiders to set up programs in advance for such transactions and proceed with them even if they come into possession of material nonpublic information.
Insiders file Form 4s with the SEC to report transactions in their companies’ shares. Open market purchases and sales must be reported within two business days of the transaction.
Union Pacific is based in Omaha, Neb.