Millard Brian 4

What Happened

• Brian Millard, Vice President and Chief Financial Officer of Universal Display Corp (OLED), received vested equity awards totaling 8,035 shares on March 7, 2026 (awards reported at $0 acquisition price). To cover tax liabilities on the vesting, 3,917 of those shares were withheld (disposed) at $97.03 per share, generating approximately $380,066 in cash. Net new shares retained by Millard from the vesting: 4,118 shares.

Key Details

• Transaction date: March 7, 2026; Form 4 filed March 10, 2026 (filed within the usual 2-business-day SEC window for a 3/7 vesting).
• Award entries: 1,497 + 4,942 + 1,596 = 8,035 shares granted/vested (code A) at $0.00.
• Withholdings/tax dispositions (code F): 635, 2,096, 677 and 509 shares = 3,917 shares withheld at $97.03 each; proceeds ≈ $380,066.
• Footnotes: Grants were performance units/restricted stock under the company’s Long Term Incentive Plan (part of 2023 compensation). Vesting occurred March 7, 2026 after performance certification by the Human Capital Committee on Feb 17, 2026. Withheld shares were used to satisfy tax withholding obligations.
• Shares owned after the transaction are not shown in the excerpt provided.

Context

• This was not an open-market sale but standard post-vesting tax withholding (cashless retention), a routine outcome of equity compensation. Such transactions reflect compensation mechanics rather than a direct insider market view.
• Net effect: Millard increased his position by the vested shares remaining after withholding (about 4,118 shares).
• For retail investors: purchases or open-market buys by insiders are generally more informative as bullish signals; tax-withholding disposals on vesting are common and usually administrative.