4 unchanged sentences
Period Total Number
−Removed: Purchased (1)
+Added: Purchased Average
(or Unit) Total
9 unchanged sentences
December 1-31, 2025 — — — 6,339,415,156
−Removed: (1) Of this amount, 478 represent shares tendered by employees in connection with the exercise of stock options under the stockholder-approved Long-Term Incentive Plan (LTIP).
(1) On March 29, 2022, our Board of Directors authorized a new program for the repurchase of up to $10.0 billion of Common Stock beginning April 1, 2022.
As of December 31, 2025, $6.3 billion remains authorized for repurchase, until such amount is exhausted.
+Added: With limited exceptions, the Merger Agreement prohibits repurchases of our Common Stock without Union Pacific’s consent.
+Added: As a result, we suspended repurchases upon entering into the Merger Agreement.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.