ULTRALIFE CORP — Director's Dealing 2009

Apr 23, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ULTRALIFE CORP (ULBI)
CIK: 0000875657
Period of Report: 2009-04-23

Reporting Person: Comerford Peter F (VP of Admin. & General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-04-23	Common Stock, $.10 par value	M	15000	$4.96	Acquired	48830	Direct
2009-04-23	Common Stock, $.10 par value	F	11489	$7.97	Disposed	37341	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2009-04-23	Common Stock (Right to Buy)	$4.96	M	15000	Disposed	2009-04-25	Common Stock; $.10 par value (15000)	Direct

Footnotes

F1: This represents the total number of shares acquired prior to the cashless exercise of 15,000 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.