ULTRALIFE CORP — Director's Dealing 2009

Feb 27, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ULTRALIFE CORP (ULBI)
CIK: 0000875657
Period of Report: 2009-02-26

Reporting Person: Meek Philip (Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-02-26	Common Stock, $.10 par value	M	6000	$4.15	Acquired	16165	Direct
2009-02-26	Common Stock, $.10 par value	F	4250	$8.07	Disposed	11915	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2009-02-26	Common Stock (Right to Buy)	$4.15	M	6000	Disposed	2009-04-03	Common Stock: $.10 par value (6000)	Direct

Footnotes

F1: Represents the total number of shares acquired prior to the cashless exercise of 6,000 shares.

F2: The shares were sold to the issuer and were acquired contemporaneiously upon the cashless exercise of stock options at an exercise price of $4.15.