8-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): April 2, 2014

Universal Display Corporation

(Exact Name of Registrant Specified in Charter)

Pennsylvania	1-12031	23-2372688
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

375 Phillips Boulevard Ewing, NJ	08618
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code: (609) 671-0980

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On April 2, 2014, the Board of Directors (the “Board”) of Universal Display Corporation (the “Registrant”) approved an increase in the Board’s size from seven members to eight members, and also elected Richard C. Elias, age 60, to the Board effective April 2, 2014 to fill the vacancy created by such increase. Mr. Elias’ term will expire at the Registrant’s next annual shareholder meeting to be held in June 2014. The Registrant expects that Mr. Elias will be nominated to stand for re-election at that time. Effective upon joining the Board, Mr. Elias becomes eligible to receive the standard compensation provided by the Registrant to its other non-employee directors, as most recently disclosed in the Registrant’s proxy statement for its 2013 annual meeting of shareholders.

Mr. Elias recently retired from his position as Senior Vice President - Optical and Specialty Materials of PPG Industries, Inc. (“PPG Industries”), in which capacity he had served since July 2008. PPG Industries currently manufactures the Registrant’s proprietary emitter materials and proprietary host materials, which the Registrant then qualifies and resells to OLED product manufacturers. As reported in the Company’s Form 10-K for the year ended December 31, 2013, in 2013, the Registrant recorded an expense of $7.5 million in relation to the cash portion of the reimbursement of expenses and work performed by PPG Industries, excluding amounts paid for commercial materials.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

99.1 Press Release dated April 3, 2014.

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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 hereunto duly authorized.

UNIVERSAL DISPLAY CORPORATION
By:	/s/ Sidney D. Rosenblatt
Name:	Sidney D. Rosenblatt
Title:	Executive Vice President, Chief Financial Officer, Treasurer and Secretary

Dated: April 4, 2014

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EXHIBIT LIST

Exhibit No.	Exhibit Title
99.1	Press Release dated April 3, 2014.

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EX-99.1

Exhibit 99.1

Investor Relations:	Media Contact:
Darice Liu Universal Display dliu@udcoled.com 609-671-0980 x558	Matt McLoughlin Gregory FCA matt@gregoryfca.com 610-228-2123

UNIVERSAL DISPLAY CORPORATION NAMES RICHARD C. ELIAS TO ITS BOARD OF DIRECTORS

Ewing, New Jersey – April 3, 2014 - Universal Display Corporation (Nasdaq: OLED), enabling energy-efficient displays and lighting with its UniversalPHOLED^® technology and materials, today announced the addition of Richard C. Elias to the company’s Board of Directors. Mr. Elias is a veteran of the chemical materials business, and he brings to Universal Display a successful track record of growing global businesses in executive leadership functions.

“We are pleased to welcome Rick to our Board of Directors and look forward to his contribution as we grow along with the expanding OLED display and lighting markets,” said Steven V. Abramson, President and Chief Executive Officer of Universal Display. “Rick is a great fit for our organization, bringing decades of experience in growing successful, global businesses that will support our strategic planning and execution as we build shareholder value.”

Mr. Elias spent over 38 years with PPG Industries in various roles and retired on April 1, 2014. Having begun his career as a chemist with PPG in 1975, he developed the vision, strategic planning and execution to become one of the company’s leaders. He most recently served as senior vice president, optical and specialty materials, of PPG Industries and CEO of the company’s owned joint venture Transitions Optical, Inc. He was responsible for building new revenue channels for PPG, managing a global team of over 1,200 employees. He received a B.S. in chemistry from the University of South Carolina, and earned a Master of Business Administration degree from Marquette University.

“I am delighted to join Universal Display’s board. UDC is an exciting company whose technology could truly transform industries,” said Mr. Elias. “I have had a front row seat to watch the company grow from a

small research and development company to a global technology and materials player. I look forward to working with my fellow board members and company management to position Universal Display on its path as a leader in the burgeoning OLED market.”

Mr. Elias has also served on various boards of directors for other organizations. Mr. Elias currently serves as a member of the board of trustees of The University of Tampa and a member of its Educational Affairs Committee; as a member of the board of trustees of the International Council of the Tampa Bay Region; and on the national board of Prevent Blindness America. He was chairman of the Vision Council of America (VCA), a nonprofit trade association for optical industry suppliers that promotes the eyecare and eyewear industry, as well as a board member of Prevent Blindness Florida.

To see how Universal Display is changing the face of the display and lighting industries with its UniversalPHOLED^®, white OLED, and flexible OLED technologies, please visit the company’s website at www.udcoled.com.

About Universal Display Corporation

Universal Display Corporation (Nasdaq: OLED) is a leader in developing and delivering state-of-the-art, organic light emitting diode (OLED) technologies, materials and services to the display and lighting industries. Founded in 1994, the Company currently owns or has exclusive, co-exclusive or sole license rights with respect to more than 3,000 issued and pending patents worldwide. Universal Display licenses its proprietary technologies, including its breakthrough high-efficiency UniversalPHOLED^® phosphorescent OLED technology, that can enable the development of low power and eco-friendly displays and white 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.

Based in Ewing, New Jersey, with international offices in Ireland, South Korea, Hong Kong, Japan and Taiwan, Universal Display works and partners with a network of world-class organizations, including Princeton University, the University of Southern California, the University of Michigan, and PPG Industries, Inc. The Company has also established relationships with companies such as AU Optronics Corporation, DuPont Displays, Inc., Innolux Corporation, Kaneka Corporation, Konica Minolta Technology Center, Inc., LG Display Co., Ltd., Lumiotec, Inc., Pioneer Corporation, Samsung Display Co., Ltd., Sony Corporation, and Tohoku Pioneer Corporation. To learn more about Universal Display, please visit www.udcoled.com.

Universal Display Corporation and the Universal Display logo are trademarks or registered trademarks of Universal Display Corporation. All other company, brand or product names may be trademarks or registered trademarks.

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All statements in this document that are not historical, such as those relating to Universal Display Corporation’s technologies and potential applications of those technologies, the Company’s expected results 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, 2013. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.