ULTRALIFE CORP — Director's Dealing 2008

Dec 19, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ULTRALIFE CORP (ULBI)
CIK: 0000875657
Period of Report: 2008-12-18

Reporting Person: FISHBACK ROBERT W (VP of Finance & CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-12-18	Common Stock, $.10 par value	M	7254	$4.96	Acquired	27766	Direct
2008-12-18	Common Stock, $.10 par value	F	4671	$10.74	Disposed	23095	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-12-18	Common Stock (Right to Buy)	$4.96	M	7254	Disposed	2009-04-25	Common Stock; $.10 par value (7254)	Direct

Footnotes

F1: Represents the total number of shares acquired prior to the cashless exercise of 7254 shares.

F2: The shares were sold to the issuer and were acquired contemporaneously upon the cashless exercise of stock options at an exercise price of $4.96.