ULTRALIFE CORP — Director's Dealing 2008

Jun 25, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ULTRALIFE CORP (ULBI)
CIK: 0000875657
Period of Report: 2008-06-23

Reporting Person: SCHMITZ WILLIAM A (Chief Operating Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-06-23	Common Stock; $.10 par value	M	350	$4.96	Acquired	28362	Direct
2008-06-23	Common Stock; $.10 par value	S	350	$11.39	Disposed	28012	Direct
2008-06-23	Common Stock; $.10 par value	M	159	$4.96	Acquired	28171	Direct
2008-06-23	Common Stock; $.10 par value	S	159	$11.43	Disposed	28012	Direct
2008-06-23	Common Stock; $.10 par value	M	41	$4.96	Acquired	28053	Direct
2008-06-23	Common Stock; $.10 par value	S	41	$11.44	Disposed	28012	Direct
2008-06-23	Common Stock; $.10 par value	M	400	$4.96	Acquired	28412	Direct
2008-06-23	Common Stock; $.10 par value	S	400	$11.50	Disposed	28012	Direct
2008-06-23	Common Stock; $.10 par value	M	200	$4.96	Acquired	28212	Direct
2008-06-23	Common Stock; $.10 par value	S	200	$11.51	Disposed	28012	Direct
2008-06-23	Common Stock; $.10 par value	M	600	$4.96	Acquired	28612	Direct
2008-06-23	Common Stock; $.10 par value	S	600	$11.52	Disposed	28012	Direct
2008-06-23	Common Stock; $.10 par value	M	400	$4.96	Acquired	28412	Direct
2008-06-23	Common Stock; $.10 par value	S	400	$11.54	Disposed	28012	Direct
2008-06-23	Common Stock; $.10 par value	M	200	$4.96	Acquired	28212	Direct
2008-06-23	Common Stock; $.10 par value	S	200	$11.55	Disposed	28012	Direct
2008-06-23	Common Stock; $.10 par value	M	400	$4.96	Acquired	28412	Direct
2008-06-23	Common Stock; $.10 par value	S	400	$11.56	Disposed	28012	Direct
2008-06-23	Common Stock; $.10 par value	M	300	$4.96	Acquired	28312	Direct
2008-06-23	Common Stock; $.10 par value	S	300	$11.59	Disposed	28012	Direct
2008-06-23	Common Stock; $.10 par value	M	500	$4.96	Acquired	28512	Direct
2008-06-23	Common Stock; $.10 par value	S	500	$11.61	Disposed	28012	Direct
2008-06-23	Common Stock; $.10 par value	M	200	$4.96	Acquired	28212	Direct
2008-06-23	Common Stock; $.10 par value	S	200	$11.64	Disposed	28012	Direct
2008-06-23	Common Stock; $.10 par value	M	400	$4.96	Acquired	28412	Direct
2008-06-23	Common Stock; $.10 par value	S	400	$11.65	Disposed	28012	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-06-23	Common Stock (Right to Buy)	$4.96	M	6250	Disposed	2009-04-25	Common Stock; $.10 par value (6250)	Direct

Footnotes

F1: This is the first of 2 Form 4s covering transactions on June 23, 2008.

F2: This option was exercised and the resulting shares sold pursuant to a Rule 10b5-1 trading plan entered into on May 12, 2008.