UNITED PARCEL SERVICE INC — Director's Dealing 2012

Mar 16, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: UNITED PARCEL SERVICE INC (UPS)
CIK: 0001090727
Period of Report: 2012-03-16

Reporting Person: KUEHN KURT P (CFO & Senior Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-03-16	Class A Common Stock	M	23063.0875	$0.0000	Acquired	83225.4728	Direct
2012-03-16	Class A Common Stock	F	8721.7535	$75.6500	Disposed	74503.7193	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-03-16	Restricted Stock Units	$	M	23063.0875	Disposed	2012-01-31	Class A Common Stock (23063.0875)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	1120.0281	Indirect
Class A Common Stock	532.0000	Indirect
Class A Common Stock	1364.0000	Indirect

Footnotes

F1: One unit is equivalent to one share of UPS Class A Common stock.

F2: The Restricted Stock Units vested on January 31, 2012. Vested shares of Class A common stock were delivered to the reporting person on March 16, 2012.

F3: Includes 678.0875 Dividend Equivalent Units acquired in the Long Term Incentive Performance Plan account between January 30, 2010 and March 7, 2012.