Bradford Whitmore Reports Mixed ULBI Trades; Large Indirect Holdings Disclosed

Rhea-AI Filing Summary

Bradford T. Whitmore, a director and 10% owner of Ultralife Corporation (ULBI), reported several open-market transactions on Form 4. Between 08/19/2025 and 08/21/2025 he purchased 58,664 shares in multiple trades at weighted average prices of about $6.56–$6.63 per share. After those purchases, Whitmore Holdings, LLC beneficially owned 1,128,731 shares indirectly. The filing also records a disposition of 205,915 shares and discloses larger indirect holdings: 4,452,283 shares via Sunray I, LLC and 518,616 shares via Grace Brothers, LP. Explanatory footnotes state the purchase prices are weighted averages and clarify Whitmore's indirect ownership through his managerial and trustee roles.

Positive

• Insider purchases of 58,664 shares were reported across 08/19/2025–08/21/2025 at weighted-average prices of about $6.56–$6.63
• Clear disclosure of indirect ownership and the reporting person’s managerial/trustee roles for Whitmore Holdings, Sunray I, LLC, and Grace Brothers, LP
• Weighted-average pricing notes include an undertaking to provide per-transaction details upon request, improving transparency

Negative

• Disposition of 205,915 shares is reported alongside purchases, producing mixed insider activity without per-lot context in the filing
• Form lacks per-trade quantity at each price in-line (only weighted averages are shown), requiring separate request for full detail
• Materiality context missing: the filing does not state total outstanding shares, so investors cannot gauge the concentration of holdings from this document alone

Insights

Securities Analyst

TL;DR: Insider executed modest buys and a sizable sale; net position remains heavily indirect and concentrated.

The reported open-market purchases totaling 58,664 shares at weighted-average prices near $6.56–$6.63 signal incremental acquisition activity over three days, which can indicate confidence or routine rebalancing. However, the filing also notes a disposal of 205,915 shares, creating a mixed signal. Material indirect holdings remain concentrated: 4.45 million shares via Sunray I, LLC and 1.13 million shares via Whitmore Holdings, LLC (after the recent buys). For investors, the scale of indirect ownership relative to outstanding shares matters, but that figure is not provided here. The filing is transparent about weighted-average pricing and clarifies the reporting person’s indirect relationships to the entities holding shares.

Corporate Governance Expert

TL;DR: Disclosure is clear on indirect ownership and weighted-average pricing; transactions create mixed governance signals.

The Form 4 properly documents the reporting person’s roles as manager and trustee explaining indirect beneficial ownership across multiple entities. Footnotes provide the required commitment to furnish per-trade price details if requested. From a governance perspective, the combination of purchases and a substantial sale warrants attention to whether transfers were between related entities or open-market trades; the form does not explicitly differentiate. The filing complies with Section 16 disclosure norms but leaves investors without per-lot breakdowns that the reporting person must provide upon request.

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).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

WHITMORE BRADFORD T

(Last) (First) (Middle)

5215 OLD ORCHARD ROAD

SUITE 970

(Street)

SKOKIE IL 60077

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ULTRALIFE CORP [ ULBI ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/19/2025

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	08/19/2025		P		15,898	A	$6.5648(1)	1,085,965	I(2)	By Whitmore Holdings, LLC
Common Stock	08/20/2025		P		13,000	A	$6.571(3)	1,098,965	I(2)	By Whitmore Holdings, LLC
Common Stock	08/21/2025		P		29,766	A	$6.6287(4)	1,128,731	I(2)	By Whitmore Holdings, LLC
Common Stock								205,915	D
Common Stock								4,452,283	I(5)	By Sunray I, LLC
Common Stock								518,616	I(6)	By Grace Brothers, LP

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

Explanation of Responses:

1. The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $6.54 to $6.6393. The reporting person undertakes to provide, upon request by the staff of the SEC, the issuer, or a security holder of the issuer, full information regarding the number of shares transacted at each price, with respect to all transactions reported on this Form 4.

2. As manager of Whitmore Holdings, LLC (and trustee of Bradford Whitmore Trust, the sole member of Whitmore Holdings, LLC), Bradford T. Whitmore is the indirect beneficial owner of these shares.

3. The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $6.515 to $6.6054. The reporting person undertakes to provide, upon request by the staff of the SEC, the issuer, or a security holder of the issuer, full information regarding the number of shares transacted at each price, with respect to all transactions reported on this Form 4.

4. The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $6.52 to $6.7174. The reporting person undertakes to provide, upon request by the staff of the SEC, the issuer, or a security holder of the issuer, full information regarding the number of shares transacted at each price, with respect to all transactions reported on this Form 4.

5. As manager of Sunray I, LLC, Bradford T. Whitmore is an indirect beneficial owner of 4,452,283 shares of Common Stock.

6. As Manager of Whitmore Holdings, LLC, which is the sole General Partner of Grace Brothers, LP, Bradford T. Whitmore is an indirect beneficial owner of 518,616 shares of Common Stock.

	Bradford T. Whitmore	08/21/2025
	** 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 is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What trades did Bradford T. Whitmore report for ULBI on Form 4?

The filing reports purchases of 58,664 shares between 08/19/2025 and 08/21/2025 at weighted-average prices of approximately $6.56–$6.63 and a separate disposition of 205,915 shares.

How many ULBI shares does Whitmore indirectly own after these transactions?

After the reported purchases, Whitmore Holdings, LLC is shown as indirectly owning 1,128,731 shares; additional indirect holdings include 4,452,283 shares via Sunray I, LLC and 518,616 shares via Grace Brothers, LP.

What prices were paid for the recent ULBI purchases?

The Form 4 lists weighted-average prices of $6.5648, $6.571, and $6.6287 for purchases on 08/19, 08/20, and 08/21/2025 respectively, with footnotes noting per-trade price ranges.

Does the filing explain why Whitmore holds shares indirectly?

Yes. Footnotes state Whitmore is the manager of Whitmore Holdings, LLC and manager of Sunray I, LLC, and trustee of Bradford Whitmore Trust, explaining the indirect beneficial ownership.

Are the per-trade quantities at each price disclosed in the Form 4?

No. The Form 4 provides weighted-average prices and includes an undertaking to provide the per-transaction breakdown upon request by the SEC staff, the issuer, or a security holder.