U.S. SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                     FORM 4

                  STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

     Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
       Section 17(a) of the Public Utility Holding Company Act of 1935 or
               Section 30(h) of the Investment Company Act of 1940

[_]  Check box if no longer subject to Section 16. Form 4 or Form 5 obligations
     may continue. See Instruction 1(b).

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1.   Name and Address of Reporting Person*

   Baird                            Sheila
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   (Last)                           (First)              (Middle)

  100 Park Avenue
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                                    (Street)

  New York                          New York              10017
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   (City)                           (State)              (Zip)


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2.   Issuer Name and Ticker or Trading Symbol

     Ultralife Batteries, Inc.  (ULBI)

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3.   IRS Identification Number of Reporting Person, if an Entity (Voluntary)



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4.   Statement for Month/Year

     December 2001

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5.   If Amendment, Date of Original (Month/Day/Year)


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6.   Relationship of Reporting Person(s) to Issuer
     (Check all applicable)

     [_]  Director                             [X]  10% Owner
     [_]  Officer (give title below)           [_]  Other (specify below)


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7.   Individual or Joint/Group Filing (Check applicable line)

     [X]  Form filed by one Reporting Person
     [_]  Form filed by more than one Reporting Person
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           Table I -- Non-Derivative Securities Acquired, Disposed of,
                             or Beneficially Owned
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5. Amount 6. 4. of Securities Owner- Securities Acquired (A) or Beneficially ship 2A. Deemed 3. Disposed of (D) Owned Form: 7. 2. Execution Transaction (Instr. 3, 4 and 5) Following Direct Nature of Transaction Date, Code ------------------------------- Reported (D) or Indirect 1. Date if any (Instr. 8) (A) Transaction(s) Indirect Beneficial Title of Security (Month/ (Month/ ------------ Amount or Price (Instr. 3 (I) Ownership (Instr. 3) (Day/Year) Day/Year) Code V (D) and 4) (Instr.4) (Instr. 4) - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 12/7/2001 P 210 A 4.400 (I) ++ - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 12/11/2001 P 360 A 4.120 (I) ++ - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 12/14/2001 P 78 A 4.029 (I) ++ - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 12/17/2001 P 972 A 4.015 (I) ++ - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 12/18/2001 P 972 A 4.038 (I) ++ - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 12/19/2001 P 300 A 4.130 (I) ++ - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 12/21/2001 P 180 A 4.180 (I) ++ - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 12/27/2001 P 360 A 4.085 (I) ++ - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 12/28/2001 P 90 A 4.223 (I) ++ - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock 12/31/2001 P 1,644 A 4.487 40,782 (I) ++ - ------------------------------------------------------------------------------------------------------------------------------------ ====================================================================================================================================
(Print or Type Response) (Over) FORM 4 (continued) Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) ===============================================================================
9. 10. Number Owner- of ship Deriv- Form 2. ative of Conver- 5. 7. Secur- Deriv- 11. sion Number of Title and Amount ities ative Nature or Derivative 6. of Underlying 8. Bene- Secur- of Exer- 4. Securities Date Securities Price ficially ity: In- cise 3. 3A. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of Owned Direct direct Price Trans- Deemed action or Disposed Expiration Date ---------------- Deriv- Following (D) or Bene- 1. of action Execution Code of(D) (Month/Day/Year) Amount ative Reported In- ficial Title of Deriv- Date Date, (Instr. (Instr. 3, ---------------- or Secur- Trans- direct Owner- Derivative ative (Month/ if any 8) 4 and 5) Date Expira- Number ity action(s) (I) ship Security Secur- Day/ (Month/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. Instr. (Instr. 3) ity Year) Day/Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4) - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------
Explanation of Responses: ++ The securities reported on this filing are held in the account of an unregistered investment company over which the Reporting Person has investment discretion through the Reporting Person's position in the general partner of said entity. The Reporting Person in turn has a pecuniary interest in the securities held by said unregistered investment company equal to his portion of the incentive allocation potentially made to the general partner of said entity each year. /s/ Sheila Baird October 15, 2002 - -------------------------------------------- ----------------------- **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). Note: File three copies of this Form, one of which must be manually signed. If space provided is insufficient, see Instruction 6 for procedure. Page 2 02962.0001 #354049