Universal Display Corporation Holds Virtual 2021 Annual Meeting of Shareholders
June 17 2021 - 04:15PM
Business Wire
Universal Display Corporation (Nasdaq: OLED), enabling
energy-efficient displays and lighting with its UniversalPHOLED®
technology and materials, today held its Virtual 2021 Annual
Meeting of Shareholders.
“2020 was a year filled with innovation and accomplishment,
flexibility and determination, as well as with uncertainty and
challenge as we navigated the ongoing pandemic,” said Steven V.
Abramson, Universal Display's President and Chief Executive
Officer. “Last year, we announced long-term agreements with China
Star Optoelectronics, achieved record quarterly revenue in the
fourth quarter of 2020, celebrated the 20-year anniversary of our
strategic partnership with PPG, and established OVJP Corporation to
advance the commercialization of our novel and groundbreaking OLED
TV manufacturing technology. Due to the tremendous and commendable
agility and focus of everyone at UDC in 2020, we secured every
customer shipment, strengthened our first-mover advantage in the
OLED ecosystem, and positioned the Company to emerge stronger when
this global crisis ends.”
Abramson continued, “As we look to 2021, we expect to see
meaningful revenue and OLED market growth, and are continuing to
invest in our people, infrastructure and innovation to further
support our stakeholders and the OLED industry. Year-to-date, we
signed new extended long-term agreements with LG Display and
Visionox, announced that UDC Ireland Limited and PPG are jointly
establishing a new manufacturing site in Shannon, Ireland, that
will be designed to double the production capacity and diversify
the manufacturing base for UDC’s phosphorescent emitters,
celebrated our 25th year as a NASDAQ-listed company with the
opening bell ceremony on April 12th, and we were named to Financial
Times’ The Americas’ Fastest-Growing Companies 2021 list.”
During the annual meeting, shareholders voted on the three
proposals described in the Company’s proxy statement for the
meeting. The shareholders re-elected all nine nominees for the
Company’s Board of Directors, approved a non-binding, advisory
resolution on compensation of the Company’s named executive
officers, and ratified the appointment of KPMG LLP as the Company’s
independent registered public accounting firm for 2021.
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 5,000 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 Company’s technologies and potential
applications of those technologies, 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, 2020.
Universal Display Corporation disclaims any obligation to update
any forward-looking statement contained in this document.
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Universal Display Contact: Darice Liu investor@oled.com
media@oled.com +1 609-964-5123
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