Union Pacific 2011 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 DJ
Trans, and the S&P 500. The graph assumes that $100 was invested in the common stock of Union
Pacific Corporation and each index on December 31, 2006 and that all dividends were reinvested.
Purchases of Equity Securities – During 2011, we repurchased 15,340,810 shares of our common
stock at an average price of $96.08. The following table presents common stock repurchases during each
month for the fourth quarter of 2011:
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. 31 379,488 87.46 371,639 31,370,427
Nov. 1 through Nov. 30 1,748,964 98.41 1,733,877 29,636,550
Dec. 1 through Dec. 31 1,787,343 100.26 1,780,142 27,856,408
Total 3,915,795 $ 98.19 3,885,658 N/A
[a] Total number of shares purchased during the quarter includes approximately 30,137 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 April 1, 2011, our Board of Directors authorized the repurchase of up to 40 million shares of our common stock by March
31, 2014. These repurchases may be made on the open market or through other transactions. Our management has sole
discretion with respect to determining the timing and amount of these transactions.