Universal Display Corp. 8-K Summary
Business Context and Reporting Period
This Form 8-K reports on the results of the 2010 Annual Meeting of Shareholders held on June 24, 2010. The report was filed on June 25, 2010. The filing details the outcomes of three specific proposals submitted to security holders.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document is strictly a report on corporate governance voting results.
Material Changes and Voting Results
A total of 35,129,596 votes were represented at the meeting. The results for the three proposals were as follows:
- Election of Directors: All seven nominees were elected. Vote percentages ranged from 78.87% to 86.59%.
- Amendment to Articles of Incorporation: Shareholders approved increasing the authorized shares of capital stock from 55,000,000 to 105,000,000. The proposal received 88.97% of votes cast.
- Ratification of Auditors: Shareholders ratified the appointment of KPMG LLP as the independent registered public accounting firm for 2010. The proposal received 99.18% of votes cast.
Guidance, Outlook, and Risks
The filing text does not provide management commentary, financial guidance, outlook, risks, contingencies, or unusual items.
Key Facts for Investor Verification
- Verify the effective date of the capital stock increase to 105,000,000 authorized shares.
- Confirm the specific terms of the amendment to the Articles of Incorporation in the company's charter documents.
- Note the significant number of votes withheld for certain director nominees (ranging from approximately 13% to 21% of total votes cast).