UNITED PARCEL SERVICE INC — Director's Dealing 2012

May 15, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: UNITED PARCEL SERVICE INC (UPS)
CIK: 0001090727
Period of Report: 2012-05-11

Reporting Person: MCDEVITT JOHN J (Senior Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-04-27	Class A Common Stock	G	1320.0000	$0.0000	Disposed	71606.1531	Direct
2012-05-11	Class A Common Stock	M	4945.3013	$0.0000	Acquired	76551.4544	Direct
2012-05-11	Class A Common Stock	M	1545.8593	$0.0000	Acquired	78097.3137	Direct
2012-05-11	Class A Common Stock	M	1246.0929	$0.0000	Acquired	79343.4066	Direct
2012-05-11	Class A Common Stock	M	1243.9100	$0.0000	Acquired	80587.3166	Direct
2012-05-11	Class A Common Stock	M	1126.4596	$0.0000	Acquired	81713.7762	Direct
2012-05-11	Class A Common Stock	F	478.1822	$77.7300	Disposed	81235.5940	Direct
2012-05-11	Class A Common Stock	F	528.0398	$77.7300	Disposed	80707.5542	Direct
2012-05-11	Class A Common Stock	F	528.9665	$77.8000	Disposed	80178.5877	Direct
2012-05-11	Class A Common Stock	F	656.2172	$77.7300	Disposed	79522.3705	Direct
2012-05-11	Class A Common Stock	F	2099.2805	$77.1500	Disposed	77423.0900	Direct
2012-04-27	Class A Common Stock	G	330.0000	$0.0000	Acquired	1897.0000	Indirect
2012-04-27	Class A Common Stock	G	330.0000	$0.0000	Acquired	1900.0000	Indirect
2012-04-27	Class A Common Stock	G	330.0000	$0.0000	Acquired	1897.0000	Indirect
2012-04-27	Class A Common Stock	G	330.0000	$0.0000	Acquired	1900.0000	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-05-11	Restricted Performance Units	$	M	4945.3013	Disposed		Class A Common Stock (4945.3013)	Direct
2012-05-11	Restricted Performance Units	$	M	1126.4596	Disposed	2016-05-04	Class A Common Stock (1126.4596)	Direct
2012-05-11	Restricted Performance Units	$	M	1243.9100	Disposed	2015-05-05	Class A Common Stock (1243.9100)	Direct
2012-05-11	Restricted Performance Units	$	M	1545.8593	Disposed	2014-05-06	Class A Common Stock (1545.8593)	Direct
2012-05-11	Restricted Performance Units	$	M	1246.0929	Disposed	2013-05-07	Class A Common Stock (1246.0929)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	11889.2917	Indirect

Footnotes

F1: Includes 37.0181 shares acquired in the Reporting Person's 401(k) account between October 28, 2011 and May 10, 2012 and 674.3514 Dividend Equivalent Units acquired in the Long Term Incentive Plan account between March 3, 2011 and March 7, 2012.

F2: Represents Restricted Performance Units (RPUs) granted as Long-term Incentive Plan Unit Awards under the United Parcel Service, Inc. Incentive Compensation Plan. Each RPU represents a right to receive one share of class A common stock.

F3: RPUs were granted on May 9, 2007, and were converted into shares of class A common stock and distributed to the Reporting Person on May 11, 2012.

F4: RPUs were granted on May 4, 2011 and vest at the rate of 20% annually beginning on May 4th of each year during the vesting period. Securities were converted into shares of class A common stock and distributed to the Reporting Person on May 11, 2012.

F5: RPUs were granted on May 5, 2010 and vest at the rate of 20% annually beginning on May 5th of each year during the vesting period. Securities were converted into shares of class A common stock and distributed to the Reporting Person on May 11, 2012.

F6: RPUs were granted on May 6, 2009, and vest at the rate of 20% annually beginning on May 6th of each year during the vesting period. Securities were converted into shares of class A common stock and distributed to the Reporting Person on May 11, 2012.

F7: RPUs were granted on May 7, 2008, and vest at the rate of 20% annually beginning on May 7th of each year during the vesting period. Securities were converted into shares of class A common stock and distributed to the Reporting Person on May 11, 2012.