UNITED STATES OF AMERICA

UNITED STATES OF AMERICA

Before the

SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934

Release No. 105730 / June 18, 2026

ADMINISTRATIVE PROCEEDING

File No. 3-22327

In the Matter of

United Parcel Service, Inc.,

Respondent.

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NOTICE OF PROPOSED PLAN OF

DISTRIBUTION AND OPPORTUNITY

FOR COMMENT

Notice is hereby given, pursuant to Rule 1103 of the United States Securities and

Exchange Commission’s (the “Commission”) Rules on Fair Fund and Disgorgement Plans (the

“Commission’s Rules”), 17 C.F.R. § 201.1103, that the Division of Enforcement has submitted

to the Commission a proposed plan of distribution (the “Proposed Plan”) for the distribution of

monies paid in the above-captioned matter.

On November 22, 2024, the Commission issued an Order Instituting Cease-and-Desist

Proceedings Pursuant to Section 8A of the Securities Act of 1933 and Section 21C of the

Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order (the

“Order”) 1 against United Parcel Service, Inc. (“UPS” or the “Respondent”). In the Order, the

Commission found that UPS failed to adhere to the basic accounting principle that the “fair

value” of an asset is the price that would be received to sell that asset in an orderly transaction

between market participants. These failures resulted in material misrepresentations to investors

regarding its earnings and other reported items and activities.

The Commission ordered the Respondent to pay a $45,000,000 civil money penalty to the

Commission. The Commission also created a Fair Fund, pursuant to Section 308(a) of the

Sarbanes-Oxley Act of 2002, so the penalty collected can be distributed to harmed investors (the

“Fair Fund”).

The Fair Fund includes the $45,000,000 collected from the Respondent. The assets of the

Fair Fund are subject to the continuing jurisdiction and control of the Commission. The Fair

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Securities Act Rel. No. 11328 (Nov. 22, 2024).

Fund has been deposited in a Commission-designated account at the U.S. Department of the

Treasury, and any interest accrued will be added to the Fair Fund.

OPPORTUNITY FOR COMMENT

Pursuant to this Notice, all interested persons are advised that they may obtain a copy of

the Plan from the Commission’s public website at

https://www.sec.gov/litigation/fairfundlist.htm. Interested persons may also obtain a written

copy of the Proposed Plan by submitting a written request to Allison J.P. Moon, United States

Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549-5631. All

persons who desire to comment on the Proposed Plan may submit their comments, in writing, no

later than 30 days from the date of this Notice:

1.

to the Office of the Secretary, United States Securities and Exchange

Commission, 100 F Street, NE, Washington, DC 20549-1090;

2.

by using the Commission’s Internet comment form

(https://www.sec.gov/litigation/admin.shtml); or

3.

by sending an e-mail to rule-comments@sec.gov.

Comments submitted by email or via the Commission’s website should include “Administrative

Proceeding File No. 3-22327” in the subject line. Comments received will be publicly available.

Persons should submit only information they wish to make publicly available.

THE PROPOSED PLAN

The Net Available Fair Fund 2 is comprised of the $45,000,000 in civil money penalties

collected from the Respondent, plus any interest and income earned thereon, less taxes, fees, and

expenses. The Proposed Plan provides for the distribution of the Net Available Fair Fund to

investors who purchased the Securities—shares of United Parcel Service Class A and Class B

common stock and certain United Parcel Service bonds—during the Relevant Period and

suffered a Recognized Loss as calculated by the methodology used in the Plan of Allocation.

For the Commission, by the Division of Enforcement, pursuant to delegated authority. 3

Vanessa A. Countryman

Secretary

All capitalized terms used herein but not defined shall have the same meanings ascribed to them in the Proposed

Plan.

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17 C.F.R. § 200.30-4(a)(21)(iii).

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