Universal Display Corp Elects New Directors, Adjusts Exec Comp
Ticker: OLED · Form: 8-K · Filed: Mar 7, 2024 · CIK: 1005284
| Field | Detail |
|---|---|
| Company | Universal Display Corp \Pa\ (OLED) |
| Form Type | 8-K |
| Filed Date | Mar 7, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, board-of-directors, executive-compensation
TL;DR
UDC adds new execs & board members, revamps comp. Big changes ahead?
AI Summary
Universal Display Corporation announced on March 4, 2024, changes in its board of directors and executive compensation arrangements. Specifically, the company elected two new directors, Dr. Michael J. McShane and Mr. Steven V. Gruno, to its Board of Directors. Additionally, the company entered into new employment agreements with certain executive officers, including Mr. Steven V. Gruno as Chief Operating Officer and Mr. Michael J. McShane as Chief Technology Officer.
Why It Matters
Changes in board composition and executive roles can signal strategic shifts or new leadership directions within the company, potentially impacting future performance and governance.
Risk Assessment
Risk Level: medium — Elections of new directors and changes in executive compensation can introduce uncertainty regarding future strategy and operational execution.
Key Numbers
- 0000950170-24-027950 — Accession Number (Unique identifier for the filing)
- 20240304 — Report Date (Earliest event reported)
Key Players & Entities
- Universal Display Corporation (company) — Registrant
- Dr. Michael J. McShane (person) — Newly elected Director and Chief Technology Officer
- Mr. Steven V. Gruno (person) — Newly elected Director and Chief Operating Officer
- Pennsylvania (jurisdiction) — State of Incorporation
- NJ (jurisdiction) — State of Principal Executive Offices
FAQ
Who were the new directors elected to Universal Display Corporation's Board?
Dr. Michael J. McShane and Mr. Steven V. Gruno were elected as new directors.
What are the new roles for Dr. Michael J. McShane and Mr. Steven V. Gruno?
Dr. Michael J. McShane was appointed Chief Technology Officer, and Mr. Steven V. Gruno was appointed Chief Operating Officer.
What is the state of incorporation for Universal Display Corporation?
The company is incorporated in Pennsylvania.
What is the address of Universal Display Corporation's Principal Executive Offices?
The principal executive offices are located at 250 Phillips Boulevard, Ewing, NJ 08618.
What is the filing date of this Form 8-K?
The filing date is March 7, 2024.
Filing Stats: 618 words · 2 min read · ~2 pages · Grade level 9.5 · Accepted 2024-03-07 16:10:10
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value OLED The Nasdaq Stock Mar
Filing Documents
- oled-20240304.htm (8-K) — 44KB
- oled-ex99_1.htm (EX-99.1) — 21KB
- img89583785_0.jpg (GRAPHIC) — 26KB
- 0000950170-24-027950.txt ( ) — 221KB
- oled-20240304.xsd (EX-101.SCH) — 29KB
- oled-20240304_htm.xml (XML) — 4KB
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 99.1 Press Release by the Registrant, dated March 7, 2024 . 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. UNIVERSAL DISPLAY CORPORATION Date: March 7, 2024 By: /s/ Brian Millard Brian Millard Vice President, Chief Financial Officer and Treasurer