ULTRALIFE CORP
For the period ended Dec 31, 2025. Filed Mar 23, 2026.
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FY2025 · Filed Mar 23, 2026
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Item 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES
| (a) | Documents filed as part of this report: |
|---|
| 1. | Financial Statements |
The financial statements and schedules required by this Item 15 are set forth in Part II, Item 8 of this Form 10-K.
Auditor information:
WithumSmith+Brown, PC
PCAOB ID 100
| (b) | Exhibits. The following exhibits are filed as a part of this report: |
|---|
| Exhibit Index | Description of Document | Filed Herewith or Incorporated by Reference from: |
|---|---|---|
| 2.1 | Share Purchase Agreement, dated December 13, 2021, by and among 1336889 B.C. Unlimited Liability Company, Mark Kroeker, Randolph Peters, Brian Larsen, M. & W. Holdings Ltd., Karen Kroeker, Heather Peterson, Michael Kroeker, Nicholas Kroeker, Brentley Peters, Craig Peters, Kurtis Peters, Heather Larsen, Ian Kane, Carol Peters, 0835205 B.C. LTD, and Excell Battery Canada Inc. | Exhibit 2.1 of the Form 8-K filed on December 16, 2021 |
| 2.2 | Share Purchase Agreement, dated December 13, 2021, by and among 1336902 B.C. Unlimited Liability Company, M. & W. Holdings Ltd., Ian Kane, Sanford Capital Ltd., Arcee Enterprises Inc., 0835205 B.C. Ltd., and 656700 B.C. LTD | Exhibit 2.2 of the Form 8-K filed on December 16, 2021 |
| 2.3 | Stock Purchase Agreement, dated May 1, 2019, by and among Ultralife Corporation, Southwest Electronic Energy Corporation, Southwest Electronic Energy Medical Research Institute, and Claude Leonard Benckenstein | Exhibit 2.1 of the Form 8-K filed on May 2, 2019 |
| 2.4 | Stock Purchase Agreement Relating to Accutronics Limited by and between Robert Andrew Phillips and Others and Ultralife Corporation | Exhibit 2.2 of the Form 10-K for the year ended December 31, 2015, filed March 2, 2016 |
| 3.1 | Restated Certificate of Incorporation | Exhibit 3.1 of the Form 10-K for the year ended December 31, 2008, filed March 13, 2009 |
| 3.2 | Amended and Restated By-laws | Exhibit 3.2 of the Form 8-K filed December 9, 2011 |
| 4.1 | Specimen Stock Certificate | Exhibit 4.1 of the Form 10-K for the year ended December 31, 2008, filed March 13, 2009 |
| 4.2 | Description of Registrant’s Securities | Exhibit 4.2 of the Form 10-K/A for the year ended December 31, 2019, filed April 28, 2020 |
| 10.1* | Amendment to the Agreement relating to rechargeable batteries | Exhibit 10.24 of our Form 10-K for the fiscal year ended June 30, 1996 (this Exhibit may be found in SEC File No. 0-20852) |
|---|---|---|
| 10.3† | Ultralife Corporation Amended 2014 Long-Term Incentive Plan | Appendix B of Form DEF 14A filed on June 1, 2021 |
| 10.4 | Credit and Security Agreement between Ultralife Corporation and KeyBank National Association dated May 31, 2017 | Exhibit 10.1 of the Form 8-K filed on June 6, 2017 |
| 10.5 | First Amendment Agreement, dated May 1, 2019, by and among Ultralife Corporation, Southwest Electronic Energy Corporation, CLB, Inc., and KeyBank National Association | Exhibit 10.1 of the Form 8-K filed on May 2, 2019 |
| 10.6† | Amendment No. 1 to Ultralife Corporation Amended 2014 Long-Term Incentive Plan | Appendix A of Form DEF 14A filed on June 1, 2021 |
| 10.7 | Second Amendment Agreement, dated December 13, 2021, by and among Ultralife Corporation, Southwest Electronic Energy Corporation, CLB, Inc., Ultralife Excell Holding Corp., Ultralife Canada Holding Corp., Excell Battery Corporation USA, and KeyBank National Association | Exhibit 10.1 of the Form 8-K filed on December 16, 2021 |
| 10.8 | Third Amendment Agreement, dated November 28, 2022, by and among Ultralife Corporation, Southwest Electronic Energy Corporation, CLB, Inc., Ultralife Excell Holding Corp., Ultralife Canada Holding Corp., Excell Battery Corporation USA, Excell Battery Canada ULC and KeyBank National Association | Exhibit 10.8 of the Form 10-K for the year ended December 31, 2022, filed March 31, 2013 |
| 10.9 | Stock Purchase Agreement dated September 27, 2024 | Exhibit 10.1 of the Form 8-K filed on October 3, 2024 |
| 10.10 | Credit and Security Agreement dated as of October 31, 2024 | Exhibit 10.2 of the Form 8-K filed on November 6, 2024 |
| 21 | Subsidiaries | Filed herewith |
| 23.1 | Consent of WithumSmith+Brown, PC | Filed herewith |
| 23.2 | Consent of Freed Maxick P.C. (f/k/a Freed Maxick CPAs, P.C.) | Filed herewith |
| 31.1 | Rule 13a-14(a) / 15d-14(a) CEO Certifications | Filed herewith |
| 31.2 | Rule 13a-14(a) / 15d-14(a) CFO Certifications | Filed herewith |
| 32 | Section 1350 Certifications | Filed herewith |
| 97.1 | Ultralife Corporation Policy for the Recovery of Erroneously Awarded Compensation | Exhibit 97.1 of the Form 10-K for the year ended December 31, 2023, filed March 21, 2024 |
| 101.INS | Inline XBRL Instance Document | Filed herewith |
| 101.SCH | Inline XBRL Taxonomy Extension Schema Document | Filed herewith |
| 101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document | Filed herewith |
| 101.LAB | Inline XBRL Taxonomy Extension Label Linkbase Document | Filed herewith |
| 101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document | Filed herewith |
| 101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document | Filed herewith |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) | Filed herewith |
- Confidential treatment has been granted as to certain portions of this exhibit.
† Management contract or compensatory plan or arrangement.
Attached as Exhibit 101 to this report are the following formatted in iXBRL (Inline eXtensible Business Reporting Language): (i) Consolidated Balance Sheets as of December 31, 2025 and December 31, 2024, (ii) Consolidated Statements of (Loss) Income and Comprehensive (Loss) Income for the years ended December 31, 2025 and December 31, 2024, (iii) Consolidated Statements of Cash Flows for the years ended December 31, 2025 and December 31, 2024, (iv) Consolidated Statements of Changes in Stockholders’ Equity for the years ended December 31, 2025 and December 31, 2024, and (v) Notes to Consolidated Financial Statements.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| ULTRALIFE CORPORATION | |
| Date: March 23, 2026 | /s/ Michael E. Manna |
|---|---|
| Michael E. Manna | |
| President, Chief Executive Officer and Director |
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.
| Date: March 23, 2026 | /s/ Michael E. Manna |
|---|---|
| Michael E. Manna | |
| President, Chief Executive Officer and Director | |
| (Principal Executive Officer) | |
| Date: March 23, 2026 | /s/ Philip A. Fain |
| Philip A. Fain | |
| Chief Financial Officer and Treasurer | |
| (Principal Financial Officer and Principal | |
| Accounting Officer) | |
| Date: March 23, 2026 | /s/ Janie Goddard |
| Janie Goddard (Director) | |
| Date: March 23, 2026 | /s/ Thomas L. Saeli |
| Thomas L. Saeli (Director) | |
| Date: March 23, 2026 | /s/ Robert W. Shaw II |
| Robert W. Shaw II (Director) | |
| Date: March 23, 2026 | /s/ Bradford T. Whitmore |
| Bradford T. Whitmore (Director) |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.