Business Context and Reporting Period
Company: Universal Display Corporation
Filing Type: Form 8-K (Current Report)
Report Date: December 29, 2004
Event Date: December 28, 2004
Context: The filing reports the entry into a material definitive agreement regarding the development and commercialization of organic light emitting device (OLED) materials.
Key Financial Metrics
This filing does not contain financial statements, revenue figures, profit data, cash flow, margins, debt levels, or liquidity metrics. The document is a current report focused solely on a contractual amendment.
Material Changes
The material change reported is the execution of a Fifth Amendment to the Development and License Agreement with PPG Industries, Inc. Key modifications include:
- Adjustments to the notice period required for non-renewal of the agreement.
- Updates regarding the composition and operations of the PPG "Development Team."
- Revisions to compensation terms for work performed and OLED materials supplied by PPG Industries during the 2005 calendar year.
Guidance, Outlook, and Risks
Management Commentary: The filing confirms that PPG Industries continues to assist Universal Display in developing and commercializing OLED materials and supplies qualified materials for resale and evaluation.
Outlook: The amendment secures the continuation of the partnership and defines terms for 2005 operations.
Risks and Contingencies: No specific risks, contingencies, or unusual items are disclosed in this filing beyond the standard contractual obligations.
Investor Verification Checklist
- Verify the specific financial impact of the compensation changes for 2005 in the company's subsequent quarterly or annual reports.
- Confirm the exact duration and renewal terms of the amended agreement with PPG Industries.
- Review future filings for updates on the commercialization progress of the OLED materials developed under this agreement.