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*
Gray Myron A

(Last) (First) (Middle)
55 GLENLAKE PARKWAY, NE

(Street)
ATLANTA GA 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)
Code V Amount (A) or (D) Price
Class A Common Stock 09/20/2011 G V 165 D $0.0000 42,825.2515 D
Class A Common Stock 09/29/2011 G V 1,225 D $0.0000 41,600.2515 D
Class A Common Stock 10/28/2011 M 260.7233 A $68.96 41,890.5488 D
Class A Common Stock 10/28/2011 M 254.8168 A $68.96 42,145.3656 D
Class A Common Stock 10/28/2011 M 199.727 A $68.96 42,345.0926 D
Class A Common Stock 10/28/2011 M 180.277 A $68.96 42,525.3696 D
Class A Common Stock 10/28/2011 M 162.6394 A $68.96 42,688.009 D
Class A Common Stock 10/28/2011 F 52.7765 D $68.96 42,635.2325 D
Class A Common Stock 10/28/2011 F 58.4999 D $68.96 42,576.7326 D
Class A Common Stock 10/28/2011 F 64.8113 D $68.96 42,511.9213 D
Class A Common Stock 10/28/2011 F 82.6881 D $68.96 42,429.2332 D
Class A Common Stock 10/28/2011 F 84.6047 D $68.96 42,344.6285 (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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Restricted Stock Units (2) 10/28/2011 M 162.6394 (3) 10/15/2011 Class A Common Stock 162.6394 $0.0000 0.0000 D
Restricted Stock Units (2) 10/28/2011 M 180.277 (3) 10/15/2012 Class A Common Stock 180.277 $0.0000 180 (4) D
Restricted Stock Units (2) 10/28/2011 M 254.8168 (3) 10/15/2013 Class A Common Stock 254.8168 $0.0000 510 (4) D
Restricted Stock Units (2) 10/28/2011 M 199.727 (3) 10/15/2014 Class A Common Stock 199.727 $0.0000 597 (4) D
Restricted Stock Units (2) 10/28/2011 M 260.7233 (3) 10/15/2015 Class A Common Stock 260.7233 $0.0000 1,044 (4) D
Explanation of Responses:
1. Includes 109.1920 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. RSUs vest at the rate of 20% on October 15th of each year during the vesting period.
4. Includes 88.1835 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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