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Filing Details

Accession Number:: 0000919574-12-003055
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2012-05-07 18:00:26
Reporting Period:: 2012-05-03

Filing Date:: 2012-05-07
Accepted Time:: 2012-05-07 18:00:26
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1005284	Universal Display Corp	PANL	Electronic Components & Accessories (3670)	232372688

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1389507	Discovery Capital Management, Llc / Ct	20 Marshall Street Suite 310 South Norwalk CT 06854		No	No	Yes	No
1528766	K. Robert Citrone	C/O Discovery Capital Management, Llc 20 Marshall Street, Suite 310 South Norwalk CT 06854		No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2012-05-03	100,000	$40.77	5,929,626	No	4	P	Indirect	See Footnote

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	See Footnote

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Equity Swap	Acquisiton	2012-05-03	1	$0.00	48,200	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
1		2012-10-09	No	4	J	Indirect

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	57,030	Indirect	See Footnote
Common Stock	121,459	Direct

Footnotes

The reported securities are directly owned by certain private investment vehicles managed by Discovery Capital Management, LLC and may be deemed beneficially owned by Discovery Capital Management, LLC as the investment manager of such private investment vehicles and also may be deemed beneficially owned by Robert K. Citrone, as the Managing Member of Discovery Capital Management, LLC. The Reporting Persons disclaim beneficial ownership of the reported securities except to the extent of his or its pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
The reported securities are directly owned by certain private investment vehicles managed by an entity of which Robert K. Citrone is a managing member and therefore, may be deemed beneficially owned by Robert K. Citrone, in his capacity as a managing member. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
These securities are directly owned by Robert K. Citrone.
On May 3, 2012, a private investment vehicle managed by an entity of which Robert K. Citrone is a managing member entered into an equity swap agreement with a securities broker (the "Swap Agreement"). The Swap Agreement references a basket of securities, including 48,200 shares of the Issuer's Common Stock. Under the agreement, the securities broker agreed to pay the investment vehicle an amount equal to any increase, and the investment vehicle agreed to pay the securities broker an amount equal to any decrease, in the official market price of Swap Agreement's underlying securities. The reference price of the Issuer's Common Stock in the Swap Agreement is US$40.51 per share upon close-out of any transaction.