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^*

DARDEN CALVIN

(Last)

(First)

(Middle)

(Street)

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
04/30/2003

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	04/21/2003		J⁽¹⁾	V	55.4173	A	57.87	180,478.4492	D
Class A Common Stock	03/31/2003		A⁽²⁾	V	97.4854	A	51.3	180,773.0319	D
Class A Common Stock	03/31/2003		G	V	350	D	57.78	180,423.0319	D
Class A Common Stock	04/30/2003⁽³⁾		M		9,266	A	62.09	189,744.4492	D
Class A Common Stock	04/30/2003		F⁽⁴⁾		8,816	D	62.09	180,928.4492	D
Class A Common Stock	04/30/2003⁽³⁾		F⁽⁵⁾		450	D	62.09	180,478.4492⁽⁶⁾	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)
Option to Purchase UPS Class A Common	16	04/30/2003		M			34,216	08/08/1988	04/30/2003	Class A Common Stock	0.00	$0.00	0.00	D
Phantom Stock Units	0.00⁽⁷⁾	04/30/2003⁽³⁾		M⁽⁸⁾		24,950		08/08/1988⁽⁹⁾	08/08/1988⁽¹⁰⁾	Class A Common Stock	0.00	$0.00	49,733.8589	D

Explanation of Responses:

1. Reflects an acquisition of shares pursuant to the Qualified Stock Ownership Plan (QSOP).

2. Shares acquired pursuant to UPS Discounted Employee Stock Purchase Plan.

3. The purpose of this amendment is to reflect corrected tax withholding amounts.

4. Undersigned surrendered shares for payment of exercise price of stock option.

5. Undersigned has elected to have UPS withhold the shares of UPS stock indicated that would otherwise be issued upon the exercise of stock option to satisfy withholding tax obligations.

6. In addition Child III owns 1,455 shares.

7. One for One

8. Undersigned elected to defer receipt of shares of Class A common stock issuable upon exercise of stock option, resulting in the accrual of phantom stock units pursuant to the UPS Deferred Compensation Plan.

9. The settlement date of the phantom stock generally will be the termination of service as a director.

10. The settlement date of the phantom stock generally will be the earlier of death, disability, retirement or termination of employment.

	Calvin Darden	07/02/2003
	** Signature of Reporting Person	Date
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* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
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