Union Pacific 2010 Annual Report Download - page 21

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21
Five-Year Performance Comparison – The following graph provides an indicator of cumulative total
shareholder returns for the Corporation as compared to the peer group index (described above), the Dow
Jones, and the S&P 500. The graph assumes that the value of the investment in the common stock of
Union Pacific Corporation and each index was $100 on December 31, 2005 and that all dividends were
reinvested.
Purchases of Equity Securities – During 2010, we repurchased 17,556,522 shares of our common
stock at an average price of $75.51. The following table presents common stock repurchases during each
month for the fourth quarter of 2010:
Period
Total Number of
Shares
Purchased [a]
A
verage
Price Paid
Per Share
Total Number of Shares
Purchased as Part of a
Publicly Announced
Plan or Program [b]
Maximum Number of
Shares That May Yet Be
Purchased Under the Plan
or Program [b]
Oct. 1 through Oct. 31 725,450 84.65 519,554 17,917,736
Nov. 1 through Nov. 30 1,205,260 89.92 1,106,042 16,811,694
Dec. 1 through Dec. 31 1,133,106 92.59 875,000 15,936,694
Total 3,063,816 $ 89.66 2,500,596 N/A
[a] Total number of shares purchased during the quarter includes approximately 563,220 shares delivered or attested to UPC by
employees to pay stock option exercise prices, satisfy excess tax withholding obligations for stock option exercises or vesting
of retention units, and pay withholding obligations for vesting of retention shares.
[b] On May 1, 2008, our Board of Directors authorized us to repurchase up to 40 million shares of our common stock through
March 31, 2011. We may make these repurchases on the open market or through other transactions. Our management has
sole discretion with respect to determining the timing and amount of these transactions.
On February 3, 2011, our Board of Directors authorized us to repurchase up to 40 million additional
shares of our common stock under a new program effective from April 1, 2011 through March 31, 2014.