ULTRALIFE CORP — Director's Dealing 2006

Sep 12, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ULTRALIFE BATTERIES INC (ULBI)
CIK: 0000875657
Period of Report: 2006-09-08

Reporting Person: Hauke Thomas E (Vice President)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-09-08	Stock Option (Right to Buy)	$9.84	A	24000	Acquired	2013-09-08	Common Stock, $.10 par value (24000)	Direct

Footnotes

F1: This option was granted under the Ultralife Batteries, Inc. Amended and Restated 2004 Long-Term Incentive Plan, as amended, in a transaction exempt under Rule 16b-3. Mr. Hauke can exercise this option pro rata with respect to 8,000 shares on each of the first, second and third anniversaries of the 9/08/06 grant date.