Universal Display (PANL) Approves $50M Buyback Plan

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Universal Display Corp (NASDAQ: PANL) announced that its board of directors has approved a program to repurchase up to $50 million of the company’s outstanding shares of common stock from time to time over the next twelve months.

Universal Display expects to enter into a trading plan established under Rule 10b5-1 under the Securities Exchange Act of 1934 to facilitate repurchases under the program. The amount and timing of repurchases will depend on a number of factors, including the price, availability of shares of the company’s common stock, trading volume and general market conditions. The repurchases may be made over the next twelve months on the open market, in block trades or otherwise. The program may be suspended or discontinued at any time.

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