UNITED STATES

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): August 4, 2022

UNIVERSAL DISPLAY CORPORATION

(Exact name of Registrant as Specified in Its Charter)

Pennsylvania	1-12031	23-2372688
(State or Other Jurisdiction<br><br>of Incorporation)	(Commission File Number)	(IRS Employer<br><br>Identification No.)
250 Phillips Boulevard,<br><br>Ewing, NJ		08618
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s Telephone Number, Including Area Code: (609) 671-0980

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

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 Instructions 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))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.01 par value	OLED	The NASDAQ Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On August 4, 2022, the Registrant issued a press release regarding its financial results for the quarter ended June 30, 2022. A copy of the press release is furnished as Exhibit 99.1 to this report.

The information set forth under this “Item 2.02. Results of Operations and Financial Condition” (including the exhibit) shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be incorporated by reference in any filing made by the Registrant pursuant to the Securities Act of 1933, as amended, other than to the extent that such filing incorporates by reference any or all of such information by express reference thereto.

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

On August 4, 2022, the Registrant (hereinafter, the Company) announced that Sidney D. Rosenblatt, the Company’s Executive Vice President, Chief Financial Officer, Treasurer and Secretary, has elected to retire from the Company as of December 30, 2022. To facilitate the transition of Mr. Rosenblatt’s functions, he will cease to serve as the Company’s Chief Financial Officer, Treasurer and Secretary effective September 6, 2022, and will serve in an advisory position from then until the date of his retirement. Mr. Rosenblatt will continue to serve as a Director on the Company’s Board of Directors after his retirement.

The Company also announced that it has hired Brian Millard, 39, to become the Company’s Vice President of Finance, Chief Financial Officer and Treasurer, effective September 6, 2022. Prior to being hired by the Company, Mr. Millard was serving as Senior Vice President of Finance and Corporate Controller at Emergent BioSolutions. Prior to Emergent, Mr. Millard served as Vice President and Corporate Controller at Hertz Global Holdings. He also held financial reporting positions at Hilton Worldwide and began his professional career at Deloitte & Touche. Mr. Millard has a Master’s and Bachelor’s degree in Accounting from James Madison University and is a licensed CPA.

There is no arrangement or understanding with any person pursuant to which Mr. Millard was elected as Vice President Finance, Chief Financial Officer and Treasurer. There are no family relationships between Mr. Millard and any executive officer or director of the Company, and he is not a party to any transaction requiring disclosure under Item 404(a) of Regulation S-K.

The Company has agreed to pay Mr. Millard an annual base salary of $425,000 and for him to receive perquisites and other benefits (life insurance coverage, automobile allowance, etc.) that are offered to executive officers of the Company. Mr. Millard also will participate in the Company’s annual bonus plan under the Annual Incentive Plan (AIP) for executive officers and participate at a target bonus of 80% of annual base, subject to the achievement of the Company’s goals under the short-term AIP bonus program based on the Company’s performance against certain financial metrics and goals as well as Mr. Millard’s performance against goals established for him at the beginning of each year. For the remaining portion of 2022, Mr. Millard’s minimum bonus will be guaranteed for an amount of $113,000.

In addition, starting in 2023, Mr. Millard will be eligible to participate in the Company’s Long-Term Incentive (LTI) plan established for executive officers. For 2023, Mr. Millard will be granted a full year LTI award, equal to a target value of $1,500,000 in the form and under terms to be approved by the Company’s Board of Directors for the 2023 fiscal year.

In addition, the Company will make a separate “make-whole” cash bonus of $250,000 and grant of restricted stock to Mr. Millard to compensate him for the value of any unpaid bonus and unvested equity forfeited from his prior employment in excess of the bonus and LTI values described above. The target value of the restricted stock grant will be approximately $800,000. The restricted stock will vest over two years, with the first half vesting upon Mr. Millard’s first work anniversary and the second half vesting upon the completion of his second anniversary, provided that with each vesting Mr. Millard is an employee of the Company at such time. Dividends will be paid currently on unvested stock and these shares, once vested, will also be subject to a one-year holding requirement. Mr. Millard also will enter into a Change of Control agreement that is similar in form and scope to that executed by other officers of the Company.

A copy of the Company’s press release announcing these matters is filed as Exhibit 99.2 to this report and incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit<br><br>Number	Description
99.1	Press Release by the Registrant, dated August 4, 2022, furnished pursuant to Item 2.02 of Form 8-K.
99.2	Press Release by the Registrant, dated August 4, 2022
104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

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: August 4, 2022	By:	/s/ Sidney D. Rosenblatt
		Sidney D. Rosenblatt
		Executive Vice President, Chief Financial<br><br>Officer, Treasurer and Secretary

EX-99.1

Exhibit 99.1

Press Release
Universal Display Contact:
---
Darice Liu
investor@oled.com
media@oled.com
+1 609-964-5123

Universal Display Corporation Announces Second Quarter 2022 Financial Results

EWING, N.J. – August 4, 2022 – Universal Display Corporation (Nasdaq: OLED), enabling energy-efficient displays and lighting with its UniversalPHOLED® technology and materials, today reported financial results for the second quarter ended June 30, 2022.

“Our second quarter started off solidly, but as we approached the summer, customers lowered their order forecasts. Given the downward trend in forecast revisions and increasing macroeconomic uncertainty and volatility, we are revising our 2022 revenue forecast to approximately $600 million, plus or minus $10 million,” said Sidney D. Rosenblatt, Executive Vice President and Chief Financial Officer of Universal Display Corporation. “While near-term macro headwinds may weigh on demand, as a lean operating company with a strong balance sheet and no debt, we are well positioned to continue investing in our long-term strategic growth initiatives to reinforce our first-mover advantage, expand our materials and technologies portfolio and broaden our support to customers and the OLED industry.”

Rosenblatt continued, “Looking to the OLED industry, we believe that 2024 is shaping up to be a pivotal year for the OLED market and for us. As the stage is being set for the next phase of significant OLED growth with a new wave of gen 6 and gen 8.5 OLED capacity plans reportedly in the works, we continue to believe that we are on track to meet preliminary target specs with our phosphorescent blue by year-end, which should enable the introduction of our all-phosphorescent RGB stack into the commercial market in 2024.”

Financial Highlights for the Second Quarter of 2022

• Total revenue in the second quarter of 2022 was $136.6 million as compared to $129.7 million in the second quarter of 2021. The deterioration in the overall global market economy had a negative impact on the demand for OLED products utilizing our emitter material. As a result of this near-term weakness, the forecasted sales volume of emitters anticipated over the remaining lives of our customer’s contracts was reduced resulting in recording a positive cumulative catch-up adjustment to total revenue of $8.8 million arising from changes in estimates of transaction price.

• Revenue from material sales was $71.9 million in the second quarter of 2022 as compared to $77.4 million in the second quarter of 2021.

• Revenue from royalty and license fees was $60.3 million in the second quarter of 2022 as compared to $48.2 million in the second quarter of 2021. This increase was primarily the result of a reduction in the forecasted sales volume anticipated over the remaining lives of their respective contracts in accordance with ASC 606.

• Cost of material sales was $25.0 million in the second quarter of 2022 as compared to $25.3 million in the second quarter of 2021.

• Operating income was $53.3 million in the second quarter of 2022 as compared to $49.9 million in the second quarter of 2021.

• Net income was $41.5 million or $0.87 per diluted share in the second quarter of 2022 as compared to $40.5 million or $0.85 per diluted share in the second quarter of 2021.

Revenue Comparison

($ in thousands)	Three Months Ended June 30,
	2022		2021
Material sales	$	71,869	$	77,438
Royalty and license fees		60,278		48,212
Contract research services		4,414		4,010
Total revenue	$	136,561	$	129,660

Cost of Materials Comparison

($ in thousands)	Three Months Ended June 30,
	2022			2021
Material sales	$	71,869		$	77,438
Cost of material sales		25,022			25,316
Gross margin on material sales		46,847			52,122
Gross margin as a % of material sales		65	%		67	%

Financial Highlights for the First Half of 2022

• Total revenue in the first half of 2022 was $287.0 million as compared to $263.7 million in the first half of 2021.

• Revenue from material sales was $158.6 million in the first half of 2022 as compared to $157.2 million in the first half of 2021.

• Revenue from royalty and license fees was $120.1 million in the first half of 2022 as compared to $99.1 million in the first half of 2021.

• Cost of material sales was $54.9 million in the first half of 2022 as compared to $46.3 million in the first half of 2021.

• Operating income was $115.6 million in the first half of 2022 as compared to $113.5 million in the first half of 2021.

• Net income was $91.5 million or $1.92 per diluted share in the first half of 2022 as compared to $92.2 million or $1.94 per diluted share in the first half of 2021.

Revenue Comparison

($ in thousands)	Six Months Ended June 30,
	2022		2021
Material sales	$	158,560	$	157,246
Royalty and license fees		120,080		99,098
Contract research services		8,391		7,316
Total revenue	$	287,031	$	263,660

Cost of Materials Comparison

($ in thousands)	Six Months Ended June 30,
	2022			2021
Material sales	$	158,560		$	157,246
Cost of material sales		54,942			46,315
Gross margin on material sales		103,618			110,931
Gross margin as a % of material sales		65	%		71	%

2022 Revised Guidance

The Company now believes that its 2022 revenue will be approximately $600 million, plus or minus $10 million. The OLED industry remains at a stage where many variables can have a material impact on its growth, and the Company thus caveats its financial guidance accordingly.

Dividend

The Company also announced a third quarter cash dividend of $0.30 per share on the Company’s common stock. The dividend is payable on September 30, 2022 to all shareholders of record on September 16, 2022.

Conference Call Information

In conjunction with this release, Universal Display will host a conference call on Thursday, August 4, 2022 at 5:00 p.m. Eastern Time. The live webcast of the conference call can be accessed under the events page of the Company's Investor Relations website at ir.oled.com. Those wishing to participate in the live call should dial 1-877-524-8416 (toll-free) or 1-412-902-1028. Please dial in 5-10 minutes prior to the scheduled conference call time. An online archive of the webcast will be available within two hours of the conclusion of the call.

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 5,500 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 projected adoption, development and advancement of the Company’s technologies, and 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, 2021. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.

Follow Universal Display Corporation

Twitter

Facebook

YouTube

(OLED-C)

UNIVERSAL DISPLAY CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(UNAUDITED)

(in thousands, except share and per share data)

			December 31, 2021
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	213,896		$	311,993
Short-term investments	439,449			351,194
Accounts receivable	74,933			107,639
Inventory	165,635			134,160
Other current assets	38,244			20,948
Total current assets	932,157			925,934
PROPERTY AND EQUIPMENT, net of accumulated depreciation of 103,881 and 92,461	138,028			128,832
ACQUIRED TECHNOLOGY, net of accumulated amortization of 183,928 and 173,635	39,375			49,668
OTHER INTANGIBLE ASSETS, net of accumulated amortization of 8,273 and 7,565	9,015			9,711
GOODWILL	15,535			15,535
INVESTMENTS	200,142			168,076
DEFERRED INCOME TAXES	36,998			33,453
OTHER ASSETS	128,188			135,710
TOTAL ASSETS	1,499,438		$	1,466,919
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable	14,048		$	14,955
Accrued expenses	38,757			45,474
Deferred revenue	99,106			120,864
Other current liabilities	3,302			6,645
Total current liabilities	155,213			187,938
DEFERRED REVENUE	30,021			36,217
RETIREMENT PLAN BENEFIT LIABILITY	68,188			66,773
OTHER LIABILITIES	80,707			76,077
Total liabilities	334,129			367,005
SHAREHOLDERS’ EQUITY:
Preferred Stock, par value 0.01 per share, 5,000,000 shares authorized, 200,000 shares of Series A Nonconvertible Preferred Stock issued and outstanding (liquidation value of 7.50 per share or 1,500)	2			2
Common Stock, par value 0.01 per share, 200,000,000 shares authorized, 49,115,444 and 49,065,924 shares issued, and 47,749,796 and 47,700,276 shares outstanding, at June 30, 2022 and December 31, 2021, respectively	491			491
Additional paid-in capital	666,087			658,728
Retained earnings	563,191			500,212
Accumulated other comprehensive loss	(23,178	)		(18,235	)
Treasury stock, at cost (1,365,648 shares at June 30, 2022 and December 31, 2021)	(41,284	)		(41,284	)
Total shareholders’ equity	1,165,309			1,099,914
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	1,499,438		$	1,466,919

All values are in US Dollars.

UNIVERSAL DISPLAY CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(UNAUDITED)

(in thousands, except share and per share data)

	Three Months Ended June 30,
	2022			2021			2022			2021
REVENUE:
Material sales	$	71,869		$	77,438		$	158,560		$	157,246
Royalty and license fees		60,278			48,212			120,080			99,098
Contract research services		4,414			4,010			8,391			7,316
Total revenue		136,561			129,660			287,031			263,660
COST OF SALES		27,239			27,969			60,402			51,267
Gross margin		109,322			101,691			226,629			212,393
OPERATING EXPENSES:
Research and development		28,197			24,101			54,742			47,406
Selling, general and administrative		19,869			20,239			40,931			36,643
Amortization of acquired technology and other intangible assets		5,502			5,497			11,000			10,985
Patent costs		2,259			1,809			4,057			3,644
Royalty and license expense		181			149			335			261
Total operating expenses		56,008			51,795			111,065			98,939
OPERATING INCOME		53,314			49,896			115,564			113,454
Interest income, net		1,583			75			1,874			208
Other income, net		89			221			55			280
Interest and other income, net		1,672			296			1,929			488
INCOME BEFORE INCOME TAXES		54,986			50,192			117,493			113,942
INCOME TAX EXPENSE		(13,484	)		(9,651	)		(26,021	)		(21,714	)
NET INCOME	$	41,502		$	40,541		$	91,472		$	92,228
NET INCOME PER COMMON SHARE:
BASIC	$	0.87		$	0.85		$	1.92		$	1.94
DILUTED	$	0.87		$	0.85		$	1.92		$	1.94
WEIGHTED AVERAGE SHARES USED IN COMPUTING NET<br><br>INCOME PER COMMON SHARE:
BASIC		47,393,830			47,299,627			47,381,864			47,284,773
DILUTED		47,457,892			47,356,864			47,451,354			47,347,596
CASH DIVIDENDS DECLARED PER COMMON SHARE	$	0.30		$	0.20		$	0.60		$	0.40

UNIVERSAL DISPLAY CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)

(in thousands)

	Six Months Ended June 30,
	2022			2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	91,472		$	92,228
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of deferred revenue and recognition of unbilled receivables, net		(125,196	)		(110,993	)
Depreciation		11,529			9,229
Amortization of intangibles		11,000			10,985
Change in excess inventory reserve		688			1,117
Amortization of premium and discount on investments, net		(1,027	)		(128	)
Stock-based compensation to employees		14,282			14,624
Stock-based compensation to Board of Directors and Scientific Advisory Board		774			704
Deferred income tax (benefit) expense		(2,282	)		1,458
Retirement plan expense		2,718			4,457
Decrease (increase) in assets:
Accounts receivable		32,706			(17,368	)
Inventory		(32,163	)		(14,179	)
Other current assets		(13,030	)		(5,712	)
Other assets		7,522			(15,005	)
Increase (decrease) in liabilities:
Accounts payable and accrued expenses		(7,126	)		(17,036	)
Other current liabilities		3,343			(2,536	)
Deferred revenue		92,976			92,816
Other liabilities		4,630			14,455
Net cash provided by operating activities		86,130			59,116
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment		(21,336	)		(20,668	)
Purchases of intangibles		(12	)		(394	)
Purchases of investments		(287,919	)		(193,951	)
Proceeds from sale and maturity of investments		161,530			100,000
Net cash used in investing activities		(147,737	)		(115,013	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock		847			787
Payment of withholding taxes related to stock-based compensation to employees		(8,844	)		(13,018	)
Cash dividends paid		(28,493	)		(18,970	)
Net cash used in financing activities		(36,490	)		(31,201	)
DECREASE IN CASH AND CASH EQUIVALENTS		(98,097	)		(87,098	)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD		311,993			630,012
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	213,896		$	542,914
The following non-cash activities occurred:
Unrealized loss on available-for-sale securities	$	(7,095	)	$	(35	)
Common stock issued to Board of Directors and Scientific Advisory Board that was <br> earned and accrued for in a previous period		300			300
Net change in accounts payable and accrued expenses related to purchases of property and equipment		611			366

EX-99.2

Exhibit 99.2

Press Release
Universal Display Contact:
---
Darice Liu
investor@oled.com
media@oled.com
+1 609-964-5123

Universal Display Corporation Announces Retirement Plans of Chief Financial Officer Sidney D. Rosenblatt

Brian Millard Appointed New CFO

Ewing, New Jersey – August 4, 2022 - Universal Display Corporation (Nasdaq: OLED), enabling energy-efficient displays and lighting with its UniversalPHOLED® technology and materials, today announced that following a brilliant and remarkable 26 years with the Company, Sidney D. Rosenblatt plans to retire as CFO at the end of this year. Rosenblatt will remain on the Company’s Board of Directors. Universal Display also announced today that Brian Millard has been appointed Chief Financial Officer, effective September 6, 2022.

“It has been a wondrous and tireless two-and-a-half-plus decades of building and shaping Universal Display Corporation from a three-person startup to a successful global leader that continues to be at the forefront of

the OLED industry,” said Rosenblatt. “I am grateful for my incredible journey at UDC and look forward to working with Brian to ensure a smooth transition. Sherwin (Seligsohn), Steve and I took this Company public in 1996 with one patent pending, a research contract with Princeton University and a vision to revolutionize the display industry. The next 15 years were filled with triumphs, challenges, unwavering determination and an unshakeable belief in the future of OLEDs and the Company. In 2011, we achieved profitability and UDC’s earnings have reached new record levels ever since. It has been a distinct honor to help lead this amazing company and to work alongside phenomenal and dedicated people through these many years. I am humbled by and proud of all of UDC’s accomplishments and am confident that the future of the Company is exceptionally strong.”

“On behalf of the Board, the management team and our colleagues at UDC, I would like to thank Sid for his extraordinary leadership, steadfast commitment and immeasurable contributions to the Company. He has been instrumental in the construction and reinforcement of UDC’s strong foundation for sustainable, long-term growth,” said Steven V. Abramson, President and Chief Executive Officer of Universal Display Corporation. “I am deeply grateful for Sid’s astute counsel, and on a more personal note, the wonderful friendship that we have shared for more than 45 years. Our partnership began when we met in law school in 1976 and it extended into the professional world in 1982. We both joined an earlier startup of Sherwin’s that helped invent digital cellular radio, International Mobile Machines Corporation (IMM). After helping to successfully transform two early-stage companies into profitable world-class operations over the course of approximately five decades, I would like to wish Sid, on behalf of the entire company, a happy and well-deserved retirement.”

Abramson continued, “We are pleased to welcome Brian Millard to Universal Display Corporation. Brian brings a wealth of valuable financial, operational and strategic experience and expertise to UDC. As we move to the next exciting chapter of our long-term growth story, I am confident Brian is well-suited to UDC’s culture of inventiveness, integrity, inclusion and imagination.”

“I am excited to join the management team at Universal Display Corporation, a global leader in the OLED ecosystem,” said Brian Millard. “As a pioneering innovator in the young OLED industry, the Company has a myriad of tremendous opportunities ahead. I look forward to being a part of the Universal Display team to help achieve its vision for the future and to drive shareholder value.”

Millard joins Universal Display Corporation with more than 15 years of deep financial, operational and strategic experience and has worked in senior roles across several industries. Millard comes to UDC from Emergent BioSolutions, where he recently served as Senior Vice President of Finance and Corporate Controller. Prior to Emergent, Millard held finance leadership positions at large multinational companies, including Hertz Global Holdings and Hilton Worldwide. He began his professional career at Deloitte & Touche. Millard has a Master’s and Bachelor’s degree in Accounting from James Madison University and is a licensed CPA.

About Universal Display Corporation

technology development and on-site training. To learn more about Universal Display Corporation, please visit https://oled.com/.

#

Follow Universal Display Corporation

Twitter

Facebook

YouTube

(OLED-C)