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

Dec 14, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: UNIVERSAL DISPLAY CORP \PA\ (PANL)
CIK: 0001005284
Period of Report: 2010-12-13

Reporting Person: Mahon Janice K (VP of Tech Commercialization)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-12-13	Common Stock	M	7500	$10.3125	Acquired	33131	Direct
2010-12-13	Common Stock	S	3750	$30.00	Disposed	29381	Direct
2010-12-13	Common Stock	S	3550	$29.90	Disposed	25831	Direct
2010-12-13	Common Stock	S	200	$30.15	Disposed	25631	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-12-13	Employee Stock Option (right to buy)	$10.3125	M	7500	Disposed	2011-03-30	Common Stock (7500)	Direct