Union Pacific investors reject resolutions
Friday, May 11, 2012
OMAHA, Neb. (AP) — Union Pacific investors have rejected shareholder proposals that dealt with executive ownership of the railroad's stock and the company's lobbying.
The Omaha-based railroad disclosed the results of the shareholder voting on Friday. Union Pacific's annual meeting was held Thursday in Salt Lake City, Utah.
Both of the resolutions attracted the support of less than one-third of the shareholders voting. UP's board opposed both measures.
One proposal would have recommended the railroad's executives be required to retain at least 25 percent of the stock they receive from the company until a year after they stop working at Union Pacific.
The other proposal would have required Union Pacific to disclose additional information about its political contributions and lobbying.
Union Pacific Corp.: www.up.com