Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 12, 2019, the Board of Directors of Universal Display Corporation
(the "Company") increased the number of directors constituting the Board to nine
and elected Ms. Celia M. Joseph and Ms. Cynthia J. Comparin to the Board,
effective January 1, 2020, and determined that both Ms. Joseph and Ms. Comparin
qualify as an "independent director" for purposes of the NASDAQ listing
standards.
The compensation for Ms. Joseph's and Ms. Comparin's services as directors will
be consistent with that of the Company's other non-employee directors, as
described in the Company's annual proxy statement filed with the Securities and
Exchange Commission on April 25, 2019. There are no arrangements or
understandings between either Ms. Joseph or Ms. Comparin and any other persons
pursuant to which Ms. Joseph or Ms. Comparin was selected as a director, and
there are no transactions in which either Ms. Joseph or Ms. Comparin has an
interest requiring disclosure under Item 404(a) of Regulation S-K. Neither Ms.
Joseph nor Ms. Comparin has been named to any committee of the Company's Board
of Directors at this time.
On December 12, 2019, the Company issued a press release announcing Ms. Joseph
and Ms. Comparin's appointments effective January 1, 2020. A copy of the press
release is filed as Exhibit 99.1 to this Form 8-K.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit
Number Description
99.1 Press Release by the Registrant, dated December 12, 2019.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
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