Form 4: Universal Display Corp VP/CFO Brian Millard Reports Acquisition of 3,850 Shares
SEC Form 4 Filing
Brian Millard, VP/CFO of Universal Display Corporation, reported the acquisition of 3,850 shares of common stock on March 4, 2024, as part of his 2024 compensation under the company's Long Term Incentive Plan.
Summary
- On March 4, 2024, Brian Millard, VP/CFO of Universal Display Corporation, acquired 3,850 shares of common stock.
- The acquisition was part of his 2024 compensation under the company's Long Term Incentive Plan.
- These units are subject to a time-based restriction, with one-third of the total unit amount vesting on each of March 4, 2025, 2026, and 2027.
- Following the transaction, Millard directly owns 14,258 shares of Universal Display Corporation.
Sentiment
Score: 7
Explanation: The sentiment is neutral to positive as it reflects standard executive compensation practices and aligns executive interests with shareholder value through long-term vesting.
Positives
- The acquisition of shares by a key executive demonstrates confidence in the company's future performance.
Future Outlook
The acquired units vest over a three-year period, indicating a long-term commitment by the executive.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.
Stakeholder Impact
- The stock acquisition aligns the executive's interests with those of the shareholders, potentially encouraging decisions that increase shareholder value.
Key Dates
| Date | Description |
|---|---|
| 03/04/2024 | Date of transaction: Brian Millard acquired 3,850 shares of common stock. |
| 03/04/2025 | First vesting date: One-third of the acquired units vest. |
| 03/04/2026 | Second vesting date: One-third of the acquired units vest. |
| 03/04/2027 | Third vesting date: One-third of the acquired units vest. |
| 03/05/2024 | Date of signature: Form 4 signed by Mauro Premutico as power of attorney for Brian Millard. |
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