X0202 4 2007-02-27 0 0001124887 CERIDIAN CORP /DE/ CEN 0001336528 Pershing Square Capital Management, L.P. 888 SEVENTH AVENUE, 29TH FLOOR NEW YORK NY 10019 0 0 1 0 0001336477 PS Management GP, LLC 888 SEVENTH AVENUE, 29TH FLOOR NEW YORK NY 10019 0 0 1 0 0001336476 Pershing Square GP, LLC 888 SEVENTH AVENUE, 29TH FLOOR NEW YORK NY 10019 0 0 1 0 0001056513 ACKMAN WILLIAM A 888 SEVENTH AVENUE, 29TH FLOOR NEW YORK NY 10019 0 0 1 0 Common Stock 2007-02-27 4 X 0 3000000 24.2596 A 0 I See footnotes Common Stock 2007-02-27 4 X 0 1000000 24.4363 A 19724334 I See footnotes American-style Call Option 24.2596 2007-02-27 4 X 0 600000 D 2007-02-05 2009-01-22 Common Stock 600000 0 I See footnotes American-style Call Option 24.2596 2007-02-27 4 X 0 600000 D 2007-02-05 2009-01-29 Common Stock 600000 0 I See footnotes American-style Call Option 24.2596 2007-02-27 4 X 0 600000 D 2007-02-05 2009-02-05 Common Stock 600000 0 I See footnotes American-style Call Option 24.2596 2007-02-27 4 X 0 600000 D 2007-02-05 2009-02-12 Common Stock 600000 0 I See footnotes American-style Call Option 24.2596 2007-02-27 4 X 0 600000 D 2007-02-05 2009-02-19 Common Stock 600000 0 I See footnotes American-style Call Option 24.4363 2007-02-27 4 X 0 200000 D 2007-02-12 2009-01-22 Common Stock 200000 0 I See footnotes American-style Call Option 24.4363 2007-02-27 4 X 0 200000 D 2007-02-12 2009-01-29 Common Stock 200000 0 I See footnotes American-style Call Option 24.4363 2007-02-27 4 X 0 200000 D 2007-02-12 2009-02-05 Common Stock 200000 0 I See footnotes American-style Call Option 24.4363 2007-02-27 4 X 0 200000 D 2007-02-12 2009-02-12 Common Stock 200000 0 I See footnotes American-style Call Option 24.4363 2007-02-27 4 X 0 200000 D 2007-02-12 2009-02-19 Common Stock 200000 0 I See footnotes In addition to Pershing Square Capital Management, L.P. ("PS Capital"), this Form 4 is being filed jointly by PS Management GP, LLC ("PS Management"), Pershing Square GP, LLC ("PSGP") and William A. Ackman, each of whom has the same business address as PS Capital and may be deemed to have a pecuniary interest in securities beneficially owned by the investment funds referred to herein. Represents 8,628,777 shares held for the account of Pershing Square, L.P. ("PSI"), 103,748 shares held for the account of Pershing Square II, L.P. ("PSII") and 10,991,809 shares held for the account of Pershing Square International, Ltd. ("PSIL"). Each of PSI, PSII and PSIL is an investment fund for which PS Capital acts as investment advisor and may be deemed the beneficial owner of securities beneficially owned by it. PS Management is general partner of PS Capital and may be deemed beneficial owner of securities beneficially owned by it. PSGP is general partner of PSI and PSII and may be deemed beneficial owner of securities beneficially owned by them. Mr. Ackman is the managing member of PSGP and PS Management and may be deemed beneficial owner of securities beneficially owned by them. Each of PS Capital, PS Management, PSGP and Mr. Ackman disclaims beneficial ownership of the securities reported in this Form 4 except to the extent of its or his pecuniary interest therein. Each of PSI, PSII and PSIL received an early exercise payment in connection with the early exercise of the options reported in this Table II. Represents 258,306 options beneficially owned by PSI, 2,423 options beneficially owned by PSII and 339,271 options beneficially owned by PSIL. Represents 87,583 options beneficially owned by PSI, 1,058 options beneficially owned by PSII and 111,359 options beneficially owned by PSIL. See entry below. N/A. PERSHING SQUARE CAPITAL MANAGEMENT, L.P., By: PS Management GP, LLC, its General Partner, By: /s/ William A. Ackman, Managing Member 2007-02-28 PS MANAGEMENT GP, LLC, By: /s/ William A. Ackman, Managing Member 2007-02-28 PERSHING SQUARE GP, LLC, By: /s/ William A. Ackman, Managing Member 2007-02-28 /s/ William A. Ackman 2007-02-28