UNITED PARCEL SERVICE INC — Director's Dealing 2017

Jan 30, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: UNITED PARCEL SERVICE INC (UPS)
CIK: 0001090727
Period of Report: 2017-01-27

Reporting Person: Gray Myron A (President, US Operations)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-01-06	Class A Common Stock	G	43.0000	$0.0000	Disposed	100480.9730	Direct
2017-01-27	Class A Common Stock	M	1097.4227	$114.2400	Acquired	101578.3957	Direct
2017-01-27	Class A Common Stock	M	993.8158	$114.2400	Acquired	102572.2115	Direct
2017-01-27	Class A Common Stock	M	747.8009	$114.2400	Acquired	103320.0124	Direct
2017-01-27	Class A Common Stock	M	716.0646	$114.2400	Acquired	104036.0770	Direct
2017-01-27	Class A Common Stock	M	695.7209	$114.2400	Acquired	104731.7979	Direct
2017-01-27	Class A Common Stock	F	334.0000	$114.2400	Disposed	104397.7979	Direct
2017-01-27	Class A Common Stock	F	344.0000	$114.2400	Disposed	104053.7979	Direct
2017-01-27	Class A Common Stock	F	357.0000	$114.2400	Disposed	103696.7979	Direct
2017-01-27	Class A Common Stock	F	477.0000	$114.2400	Disposed	103219.7979	Direct
2017-01-27	Class A Common Stock	F	561.0000	$114.2400	Disposed	102658.7979	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-01-27	Restricted Performance Units	$	M	1097.4227	Disposed	2017-01-15	Class A Common Stock (1097.4227)	Direct
2017-01-27	Restricted Performance Units	$	M	747.8009	Disposed	2018-01-15	Class A Common Stock (747.8009)	Direct
2017-01-27	Restricted Performance Units	$	M	695.7209	Disposed	2019-01-15	Class A Common Stock (695.7209)	Direct
2017-01-27	Restricted Performance Units	$	M	716.0646	Disposed	2020-01-15	Class A Common Stock (716.0646)	Direct
2017-01-27	Restricted Performance Units	$	M	993.8158	Disposed	2021-01-15	Class A Common Stock (993.8158)	Direct

Footnotes

F1: Represents Restricted Performance Units (RPUs) granted as Management Incentive Awards under the United Parcel Service, Inc. Incentive Compensation Plan. Each RPU represents the right to receive one share of Class A common stock.

F2: RPUs vest at the rate of 20% on January 15th of each year during the vesting period.

F3: Includes 320.8249 Dividend Equivalent Units acquired in the Restricted Performance Plan account between January 29, 2016 and January 26, 2017.