Press release
Universal Display Corporation Holds Virtual 2023 Annual Meeting of Shareholders
EWING, N.J.--(BUSINESS WIRE)-- Universal Display Corporation (Nasdaq: OLED) (UDC), enabling energy-efficient displays and lighting with its UniversalPHOLED®
About this update from Universal Display Corporation
[{"type":"text","content":" EWING, N.J.--(BUSINESS WIRE)--\nUniversal 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.\n\n\n“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.”\n\n\nAbramson 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.”\n\n\nDuring 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 advis...