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*
CLARK KEVIN P
(Last) (First) (Middle)
120 FIRST AVENUE N
(Street)
GREAT FALLS MT 59401
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
UNITED FINANCIAL CORP \MN\ [ UBMT ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
X Officer (give title below) Other (specify below)
CEO
3. Date of Earliest Transaction (Month/Day/Year)
02/01/2006
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)
Code V Amount (A) or (D) Price
Common Stock, no par value per share 02/01/2006 M 500 A $8.5576 79,407.08(1) D
Common Stock, no par value per share 3,186.57 I Held in a custodial account for daughter.
Common Stock, no par value per share 3,185.53 I Held in a custodial account for daughter.
Common Stock, no par value per share 586.25 I Held in an IRA by spouse.
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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Options $8.5576 02/01/2006 M 500 05/22/2002(2) 05/22/2011 common stock 4,125 (3) 3,625 D
Employee Stock Options $11.3456 05/21/2003(4) 05/21/2012 common stock 12,375 12,375 D
Employee Stock Options $13.9736 05/20/2004(5) 05/20/2013 common stock 937.5 937.5 D
Employee Stock Options $19.888 05/25/2005(6) 05/25/2014 common stock 500 500 D
Employee Stock Options $20.2 10/31/2006(7) 10/31/2015 common stock 2,500 2,500 D
Explanation of Responses:
1. Includes 60,951 shares held directly, 6,131.84 shares held in a IRA for the benefit of Mr. Clark and 12,324.24 shares held in a 401k account for the benefit of Mr. Clark. The difference in 401k holdings compared to previous filings are routine acquisitions due to a reinvestment of dividends in the Heritage Bank Safe Harbor 401K P/S Plan.
2. Grant date of 05/22/2001, exercisable as to 2062.50 shares on each of 05/22/02, 05/22/03, 05/22/04, 05/22/05. This option was previously reported as 3,300 shares at an option price of $10.697 per share but the number of shares, option price, and number of exercisable shares have been adjusted due to a 5 for 4 stock split on 12/28/05.
3. Exercise of derivative securities.
4. Grant date of 05/21/2002, exercisable as to 3093.75 shares on each of 05/21/03, 05/21/04, 05/21/05, 05/21/06. This option was previously reported as 9,900 shares at an option price of $14.182 per share but the number of shares, option price, and number of exercisable shares have been adjusted due to a 5 for 4 stock split on 12/28/05.
5. Grant date of 05/20/2003, exercisable as to 234.375 shares on each of 05/20/04, 05/20/05, 05/20/06, 05/20/07. This option was previously reported as 750 shares at an option price of $17.467 per share but the number of shares, option price, and number of exercisable shares have been adjusted due to a 5 for 4 stock split on 12/28/05.
6. Grant date of 05/25/2004, exercisable as to 125 shares on each of 05/25/05, 05/25/06, 05/25/07, 05/25/08. This option was previously reported as 400 shares at an option price of $24.86 per share but the number of shares, option price, and number of exercisable shares have been adjusted due to a 5 for 4 stock split on 12/28/05.
7. Grant date of 10/31/2005, exercisable as to 625 shares on each of 10/31/06, 10/31/07, 10/31/08, 10/31/09. This option was previously reported as 2000 shares at an option price of $25.25 per share but the number of shares, option price, and number of exercisable shares have been adjusted due to a 5 for 4 stock split on 12/28/05.
Kurt R Weise POA, on Behalf of Kevin P Clark 02/03/2006
** 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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