ULTRALIFE CORP — Director's Dealing 2011

Jan 4, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ULTRALIFE CORP (ULBI)
CIK: 0000875657
Period of Report: 2010-12-30

Reporting Person: POPIELEC MICHAEL D (Director, President and CEO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-12-30	Common Stock; $.10 par value	$6.4218	M	50000	Acquired	2017-12-30	Common Stock; $.10 par value (50000)	Direct
2011-01-03	Common Stock; $.10 par value	$6.582	M	50000	Acquired	2017-12-30	Common Stock; $.10 par value (50000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock; $.10 par value	0	Direct

Footnotes

F1: This options vests as follows: 12,500 shares vest on 12/30/2011; 12,500 shares vests on 12/30/2012; 12,500 shares vest on 12/30/2013 and 12,500 shares vest on 12/30/2014.

F2: This options vests as follows: 12,500 shares vest on 12/30/2011; 12,500 shares vests on 12/30/2012; 12,500 shares vest on 12/30/2013 and 12,500 shares vest on 12/30/2014.