We demonstrate pulse shaping via arbitrary phase modulation with a reflective, 1×4096 element, liquid crystal spatial light modulator (SLM). The unique construction of this device provides a very high efficiency when the device is used for phase modulation only in a prism based pulse shaper, namely 85%. We also present a single shot characterization of the SLM in the spatial domain and a single shot characterization of the pulse shaper in the spectral domain. These characterization methods provide a detailed picture of how the SLM modifies the spectral phase of an ultrashort pulse.