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	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* HOVEY FRANKLIN G II (Last) (First) (Middle) 80 UNDERCLYFFE RD (Street) ST. JOHNSBURY VT 05819 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol UNION BANKSHARES INC [ UNB ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 07/19/2003
	4. If Amendment, Date of Original Filed (Month/Day/Year) 01/06/2004	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	12/31/2003		J(1)(2)		173,625	D	$0	173,626	I	Co. Trustee and Beneficiary Franklin G. Hovey, II Trust(4)
Common Stock	03/05/2002		J(1)(3)		422,908	A	$0	422,908	I	Co-Trustee Genevieve L. Hovey Trust(4)

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. All share information reflects a 2-for-1 stock split effective August 8, 2003 and associated cash out or sale of fractional shares.

2. Represents a transfer of shares from the Franklin G. Hovey Trust to a remainder trust, the Franklin G. Hovey II Trust of which Mr. Hovey is co-Trustee and primary beneficiary. Reflects a reduction of 173,625 shares in the total reported above for Mr. Hovey, which were distributed on December 31, 2003 to a remainder trust for Mr. Hovey's sister.

3. Reflects a change in the form of indirect ownership when Mr. Hovey and his sister became co-Trustees of the Genevieve L. Hovey Trust; these shares were previously reported as beneficially owned by virtue of a power of attorney. Mr. Hovey and his sister became primary beneficiaries under such Trust upon the death of their mother on July 19, 2003. Mr. Hovey disclaims beneficial ownership of 211,454 of shares held in the Trust, in which Mr. Hovey's sister has a pecuniary interest.

4. Correction of name of town and entitlement of the Trusts.

	/s/ Marsha A. Mongeon for Franklin G. Hovey, II	01/06/2004
	** 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).
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