SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

OWENS CHRISTINE M

(Last)

(First)

(Middle)

55 GLENLAKE PARKWAY, NE

(Street)

ATLANTA

30328

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
UNITED PARCEL SERVICE INC [ UPS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Senior Vice President

3. Date of Earliest Transaction (Month/Day/Year)
10/28/2011

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	10/28/2011		M		291.988	A	$68.96	43,878.1788	D
Class A Common Stock	10/28/2011		M		268.5787	A	$68.96	44,146.7575	D
Class A Common Stock	10/28/2011		M		208.9214	A	$68.96	44,355.6789	D
Class A Common Stock	10/28/2011		M		206.5492	A	$68.96	44,562.2281	D
Class A Common Stock	10/28/2011		M		189.4028	A	$68.96	44,751.6309	D
Class A Common Stock	10/28/2011		F		80.4015	D	$68.96	44,671.2294	D
Class A Common Stock	10/28/2011		F		87.6801	D	$68.96	44,583.5493	D
Class A Common Stock	10/28/2011		F		88.6871	D	$68.96	44,494.8622	D
Class A Common Stock	10/28/2011		F		114.0117	D	$68.96	44,380.8505	D
Class A Common Stock	10/28/2011		F		123.9488	D	$68.96	44,256.9017⁽¹⁾	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Units	⁽²⁾	10/28/2011		M			189.4028	⁽³⁾	⁽³⁾	Class A Common Stock	189.4028	$0.0000	0.0000	D
Restricted Stock Units	⁽²⁾	10/28/2011		M			208.9214	⁽⁴⁾	10/15/2012	Class A Common Stock	208.9214	$0.0000	209⁽⁵⁾	D
Restricted Stock Units	⁽²⁾	10/28/2011		M			291.988	⁽⁴⁾	10/15/2013	Class A Common Stock	291.988	$0.0000	584⁽⁵⁾	D
Restricted Stock Units	⁽²⁾	10/28/2011		M			206.5492	⁽⁴⁾	10/15/2014	Class A Common Stock	206.5492	$0.0000	619⁽⁵⁾	D
Restricted Stock Units	⁽²⁾	10/28/2011		M			268.5787	⁽⁴⁾	10/15/2015	Class A Common Stock	268.5787	$0.0000	1,075⁽⁵⁾	D

Explanation of Responses:

1. Includes 118.4384 shares acquired in the Reporting Person's 401(k) account between March 3, 2011 and October 27, 2011.

2. Represents Restricted Stock Units (RSUs) granted as Management Incentive Awards under the United Parcel Service, Inc. Incentive Compensation Plan. Each RSU represents the right to receive one share of Class A common stock.

3. Restricted stock grant vests at the rate of 20% on the first anniversary date and on each anniversary date thereafter.

4. RSUs vest at the rate of 20% on October 15th of each year during the vesting period.

5. Includes 95.4401 Dividend Equivalent Units acquired in the Restricted Stock Unit Plan account between October 29, 2010 and October 27, 2011.

	Robert S. Shaw, Power of Attorney	11/01/2011
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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