UNIVERSAL DISPLAY CORP \PA\ — Director's Dealing 2010

Nov 22, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: UNIVERSAL DISPLAY CORP \PA\ (PANL)
CIK: 0001005284
Period of Report: 2010-11-18

Reporting Person: BROWN JULIA J (Chief Technical Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-11-18	Common Stock	M	10000	$8.56	Acquired	161731	Direct
2010-11-18	Common Stock	S	5000	$23.00	Disposed	156731	Direct
2010-11-18	Common Stock	S	5000	$24.00	Disposed	151731	Direct
2010-11-22	Common Stock	M	5000	$8.56	Acquired	156731	Direct
2010-11-22	Common Stock	S	2500	$24.24	Disposed	154231	Direct
2010-11-22	Common Stock	S	200	$24.04	Disposed	154031	Direct
2010-11-22	Common Stock	S	2300	$24.02	Disposed	151731	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-11-18	Employee Stock Option (right to buy)	$8.56	M	10000	Disposed	2011-12-17	Common Stock (10000)	Direct
2010-11-22	Employee Stock Option (right to buy)	$8.56	M	5000	Disposed	2011-12-17	Common Stock (5000)	Direct