Form 4: Universal Display Corp CEO Abramson Reports Stock Transactions
SEC Form 4
Steven V. Abramson, CEO of Universal Display Corporation, reports stock transactions including vesting of restricted stock and performance units, as well as tax liability satisfaction.
Summary
- On March 2, 2024, Steven V. Abramson, CEO of Universal Display Corporation, had 2,636 shares withheld to cover tax liabilities related to the vesting of 6,216 restricted stock shares.
- Also on March 2, 2024, Abramson received 4,663 shares as performance units under the company's Long Term Incentive Plan, which vested based on performance conditions certified by the Human Capital Committee on February 20, 2024.
- An additional 1,978 shares were withheld on March 2, 2024, to cover tax liabilities related to the vesting of the 4,663 restricted stock shares.
- On March 4, 2024, Abramson was granted 11,559 units under the Company's Long Term Incentive Plan as part of his 2024 compensation, vesting in thirds on March 4, 2025, 2026, and 2027.
- Following these transactions, Abramson directly owns 223,839 shares of common stock and indirectly owns 11,712 shares through a Grantor Retained Annuity Trust.
Sentiment
Score: 6
Explanation: The document is a neutral regulatory filing detailing stock transactions. The vesting of performance units is a slightly positive indicator, while the tax liability withholdings are neutral.
Positives
- The vesting of performance units indicates that certain performance conditions were met, as certified by the Human Capital Committee on February 20, 2024.
- The grant of 11,559 units under the Long Term Incentive Plan as part of the CEO's 2024 compensation suggests continued investment in the company's leadership.
Future Outlook
The document outlines future vesting dates for the units granted under the Long Term Incentive Plan, indicating a continued long-term incentive structure for the CEO.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency regarding the CEO's stake in the company and the incentives driving his performance.
Stakeholder Impact
- Shareholders gain insight into the CEO's compensation structure and alignment with company performance.
- Employees may be interested in the details of the Long Term Incentive Plan.
Key Dates
| Date | Description |
|---|---|
| 02/20/2024 | Company's Human Capital Committee certified performance conditions for performance units. |
| 03/02/2024 | Vesting of 6,216 shares of restricted stock and withholding of 2,636 shares for tax liability. |
| 03/02/2024 | Vesting of 4,663 shares of performance units. |
| 03/02/2024 | Withholding of 1,978 shares for tax liability related to the vesting of 4,663 restricted stock shares. |
| 03/04/2024 | Grant of 11,559 units under the Company's Long Term Incentive Plan. |
| 03/04/2025 | One-third of the 11,559 units granted on March 4, 2024, will vest. |
| 03/04/2026 | One-third of the 11,559 units granted on March 4, 2024, will vest. |
| 03/04/2027 | One-third of the 11,559 units granted on March 4, 2024, will vest. |
| 03/05/2024 | Date of signature for the Form 4 filing. |
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