Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

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
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Alvaro Felicia
  2. Issuer Name and Ticker or Trading Symbol
ULTIMATE SOFTWARE GROUP INC [ULTI]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Exec. VP. CFO and Treasurer
(Last)
(First)
(Middle)
1485 NORTH PARK DRIVE
3. Date of Earliest Transaction (Month/Day/Year)
02/08/2019
(Street)

WESTON, FL 33326
4. If Amendment, Date 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
(City)
(State)
(Zip)
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
Restricted Stock Award 02/08/2019 02/08/2019 A   15,000 A $ 0 42,680 D  
Restricted Stock Unit 02/08/2019 02/08/2019 M   334 A $ 0 43,014 D  
Restricted Stock Unit (1) 02/08/2019 02/08/2019 F   93 D $ 332.41 42,921 D  
Restricted Stock Unit 02/09/2019 02/09/2019 M   666 A $ 0 43,587 D  
Restricted Stock Unit (2) 02/09/2019 02/09/2019 F   162 D $ 332.41 43,425 D  
Restricted Stock Unit 02/10/2019 02/10/2019 M   667 A $ 0 44,092 D  
Restricted Stock Unit (3) 02/10/2019 02/10/2019 F   163 D $ 332.41 43,929 D  
Common Stock (4) 02/11/2019 02/11/2019 S   3,929 D $ 331.9486 (5) 40,000 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 Underlying Securities
(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 of Derivative Security: 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
Restricted Stock Unit $ 0 02/08/2019 02/08/2019 M     334   (6)   (6) Common Stock 334 $ 0 0 D  
Restricted Stock Unit $ 0 02/09/2019 02/09/2019 M     666   (7)   (7) Common Stock 666 $ 0 0 D  
Restricted Stock Unit $ 0 02/10/2019 02/10/2019 M     667   (8)   (8) Common Stock 667 $ 0 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Alvaro Felicia
1485 NORTH PARK DRIVE
WESTON, FL 33326
  X     Exec. VP. CFO and Treasurer  

Signatures

 /s/ Felicia Alvaro   02/12/2019
**Signature of Reporting Person Date

Explanation of Responses:

* 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).
(1) These shares were retained by the Company and not issued, in satisfaction of withholding payroll tax requirements applicable to vesting of the Restricted Stock Awards originally granted on February 8, 2016.
(2) These shares were retained by the Company and not issued, in satisfaction of withholding payroll tax requirements applicable to vesting of the Restricted Stock Awards originally granted on February 9, 2018.
(3) These shares were retained by the Company and not issued, in satisfaction of withholding payroll tax requirements applicable to vesting of the Restricted Stock Awards originally granted on February 10, 2017.
(4) The transactions reported on this Form 4 were effected pursuant to a Rule 10(b)5-1 trading plan adopted by the reporting person on November 14, 2018.
(5) The sales price represents the weighted average sales price ranging in price from $331.71 to $332.41. The number of shares sold at each separate price will be made available to the SEC Staff, the issuer, or a security holder of the issuer upon request.
(6) This restricted stock unit was granted on February 8, 2016.
(7) This restricted stock unit was granted on February 9, 2018.
(8) This restricted stock unit was granted on February 10, 2017.

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