Universal Display Corporation Holds Virtual 2023 Annual Meeting of Shareholders
15 Junho 2023 - 5:15PM
Business Wire
Universal Display Corporation (Nasdaq: OLED) (UDC), enabling
energy-efficient displays and lighting with its UniversalPHOLED®
technology and materials, today held its Virtual 2023 Annual
Meeting of Shareholders.
“2022 was another year of growth and record financial results
for our Company. We continued to build upon our global leadership
position and strong customer partnerships with the achievement of
important R&D milestones as well as investments in our
technology and manufacturing infrastructure,” said Steven V.
Abramson, President and Chief Executive Officer of Universal
Display Corporation. “With PPG, our foundry partner for more than
20 years, we brought online an initial phase of our new
manufacturing site in Shannon, Ireland during the summer for the
production of our energy-efficient, high-performing UniversalPHOLED
materials. This past year, we also announced new long-term
agreements for red and green materials with our partner of more
than two decades, Samsung Display, for an additional five
years.”
Abramson continued, “As a pioneer and leader in the OLED
ecosystem, UDC has a strong history of pushing technology to new
heights. Imagination, innovation and determination are the driving
forces that have propelled us forward from discovery through
development to delivery. We continue to invest in a number of
strategic programs – including next-generation red, green, yellow
and blue emissive systems and OLED technologies, our trailblazing
OVJP (organic vapor jet printing) manufacturing platform, our
global infrastructure and in our people. Looking forward, we
believe that a significant new wave of OLED adoption, primarily for
IT, will commence in 2024 and fuel a new multi-year wave of OLED
capacity investments. This new wave of capacity builds is expected
to drive significant growth and momentum in the OLED industry and
for us.”
During the annual meeting, shareholders voted on the five
proposals described in the Company’s proxy statement for the
meeting. The shareholders re-elected all eight nominees for the
Company’s Board of Directors; approved the Universal Display
Corporation Equity Compensation Plan; approved a non-binding,
advisory resolution on compensation of the Company’s named
executive officers; voted, on an advisory basis, regarding the
frequency of future advisory shareholder votes on executive officer
compensation with a one-year frequency receiving the most votes;
and ratified the appointment of KPMG LLP as the Company’s
independent registered public accounting firm for 2023.
The virtual annual meeting was broadcasted over the Internet. An
online archive of the meeting will be available on the events page
of the Company's Investor Relations website at ir.oled.com.
About Universal Display
Corporation Universal Display Corporation (Nasdaq: OLED)
is a leader in the research, development and commercialization of
organic light emitting diode (OLED) technologies and materials for
use in display and solid-state lighting applications. Founded in
1994 and with subsidiaries and offices around the world, the
Company currently owns, exclusively licenses or has the sole right
to sublicense more than 6,000 patents issued and pending worldwide.
Universal Display licenses its proprietary technologies, including
its breakthrough high-efficiency UniversalPHOLED® phosphorescent
OLED technology that can enable the development of energy-efficient
and eco-friendly displays and solid-state lighting. The Company
also develops and offers high-quality, state-of-the-art
UniversalPHOLED materials that are recognized as key ingredients in
the fabrication of OLEDs with peak performance. In addition,
Universal Display delivers innovative and customized solutions to
its clients and partners through technology transfer, collaborative
technology development and on-site training. To learn more about
Universal Display Corporation, please visit https://oled.com/.
Universal Display Corporation and the Universal Display
Corporation logo are trademarks or registered trademarks of
Universal Display Corporation. All other company, brand or product
names may be trademarks or registered trademarks.
All statements in this document that are not historical, such as
those relating to the projected adoption, development and
advancement of the Company’s technologies, and the Company’s
expected results and future declaration of dividends, as well as
the growth of the OLED market and the Company’s opportunities in
that market, are forward-looking financial statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
You are cautioned not to place undue reliance on any
forward-looking statements in this document, as they reflect
Universal Display Corporation’s current views with respect to
future events and are subject to risks and uncertainties that could
cause actual results to differ materially from those contemplated.
These risks and uncertainties are discussed in greater detail in
Universal Display Corporation’s periodic reports on Form 10-K and
Form 10-Q filed with the Securities and Exchange Commission,
including, in particular, the section entitled “Risk Factors” in
Universal Display Corporation’s Annual Report on Form 10-K for the
year ended December 31, 2022. Universal Display Corporation
disclaims any obligation to update any forward-looking statement
contained in this document.
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Universal Display: Darice Liu investor@oled.com
media@oled.com +1 609-964-5123
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