Nando Cesarone - 15 May 2023 Form 4 Insider Report for UNITED PARCEL SERVICE INC (UPS)

Role: President, US Operations
Signature: Eli Brown, Power of Attorney
Issuer symbol: UPS
Transactions as of: 15 May 2023
Net transactions value: -$1,365,197
Form type: 4
Filing time: 16 May 2023, 16:12:32 UTC
Previous filing: 06 Apr 2023
Next filing: 16 Aug 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	UPS	Class A Common Stock	Options Exercise	$0	+17,965	+38%	$0.000000	65,296	15 May 2023	Direct	F1
transaction	UPS	Class A Common Stock	Tax liability	$1,365,197	-8,102	-12%	$168.50	57,194	15 May 2023	Direct	F1
holding	UPS	Class B Common Stock						1	15 May 2023	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	UPS	Restricted Stock Units	Options Exercise	$0	-17,965	-100%	$0.000000^*	0	15 May 2023	Class A Common Stock	17,965		Direct	F2, F3, F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Includes 291.0018 shares in the reporting person's 401(k) account.
F2	Represents Restricted Stock Units (RSUs) granted under the United Parcel Service, Inc. Incentive Compensation Plan. These RSUs converted into shares of UPS Class A common stock on a one for one basis.
F3	Includes dividend equivalent units attributed to the RSUs.
F4	RSUs vested 25% the first year, 25% the second year and 50% the third year. Current vesting represents the final tranche of the 3 year vesting cycle.