Hello, and welcome to the 2024 Annual Meeting of Shareholders of Universal Display Corporation. Please note, today's meeting is being recorded and will be available online after the meeting. We ask you not to record the meeting. Shareholders who are attending the meeting with a valid 16-digit control number may submit a question during the meeting. For a shareholder to ask a question, please click on the "Ask a Question" button on your screen. Please include your name and, if applicable, your company affiliation when doing so. Out of consideration for others, please limit yourself to one question. Questions on the same topic or that are otherwise related may be grouped, summarized, and answered together. During the meeting, we will field relevant questions related to the official business of the meeting. Following the formal meeting, we will have a question-and-answer session, during which time questions related to the official business of the meeting will be answered as time permits. It is now my pleasure to turn today's meeting over to Steven Abramson, Director, President, and Chief Executive Officer of Universal Display. Thank you. Good morning, everyone, and welcome to Universal Display Corporation's 2024 Annual Meeting of Shareholders. Thank you for joining our virtual meeting via webcast, and I hope that you have all been well. Today, we will conduct the formal business of the meeting as set forth in the company's Notice of Annual Meeting and Proxy Statement and Rules of Conduct. Links to which are posted on the Annual Meeting website. It is our intention to conduct this meeting in accordance with these documents. Following that, I will give a brief presentation on the company, and I will then do my best to answer questions from shareholders as appropriate and as time permits. Now, I'd like to formally open the business portion of this meeting. The polls for the items to be voted on in this meeting are open and will remain open until the end of the business portion of this meeting. Shareholders of record who have not already voted or who wish to change their votes may do so now following the instructions of the Annual Meeting website. Please note that if you have already voted and do not wish to change your vote, you do not need to vote again here. The company has received an affidavit signed by a representative of Broadridge Financial Solutions, which is serving as Inspector of Elections and Proxy Tabulator, that the Notice of this Meeting, along with related proxy and annual report materials, was mailed or made available beginning on April 25, 2024, to shareholders of record as of the close of business on April 5, 2024, our record date. Based on the affidavit from Broadridge, this meeting is duly called with timely and proper notice. Based on the information provided by the Inspector of Elections, a quorum of shareholders is present in person or by proxy for the transaction of business at our meeting today. We are meeting today to vote on the proposals described in the company's proxy statement. The first item of business is the election of the 10 director nominees listed in the proxy statement, each to hold a one-year term. The nominees are Dr. Nigel Brown, Cynthia J. Comparan, Richard C. Elias, Elizabeth H. Gemmill, C. Keith Hartley, Celia M. Joseph, Lawrence Lacerte, Dr. Joan Lau, Sidney D. Rosenblatt, and I, Steven V. Abramson, and the final nominee. Biographies for each of the nominees are included in the proxy statement, and the board recommends a vote for each of the 10 director nominees. The second item of business is the advisory, non-binding vote on the compensation of our named executive officers as described in the proxy statement. We refer to these votes as being advisory because results are not binding on the company. However, the company's Board of Directors and Human Capital Committee intend to consider the results of this vote in making determinations in the future regarding executive compensation arrangements. The board recommends a vote for the compensation of our named executive officers as described in this proxy statement. The last item of business is the ratification of the company's audit committee appointment of KPMG LLP to serve as the company's independent auditor for the year ending December 31, 2024. The board recommends a vote for this proposal. Should anyone wish to cast their vote, please do so now. Since there is no other business to come before this meeting, the polls are now closed. I have the preliminary report from the Inspector of Elections on the voting results, and I am pleased to report that each of the proposals voted on today has been approved by the requisite vote. The Inspector of Elections will provide a final certified report of the votes following the meeting. That report will become part of the record of this meeting and is not expected to affect the outcome of the voting I announced today. We will report the detailed voting results of today's meeting on a Form 8-K filed with the Securities and Exchange Commission in the coming days. That concludes the formal portion of this meeting, and I now declare our 2024 shareholders' meeting formally adjourned. Now, let me provide a short report on our company as we review 2023 and share our view of the business. Please take a moment to review our Safe Harbor Statement. During the presentation and any Q&A, I or other company management members may make forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995 related to future events or results. These statements are subject to a number of significant risks and uncertainties, and our actual results may differ materially. These risks and uncertainties are discussed in the company's periodic reports filed with the SEC and should be referenced by anyone considering making any investments in the company's securities. We are the pioneer and leader behind energy-efficient phosphorescent OLED materials and technologies that can be found in virtually every OLED consumer product around the world. Through our extensive know-how and continuous innovation, we support our customers and enable growth in the OLED industry. An OLED is essentially layers of film that is substrate-agnostic. It can be made on glass, plastic, and even metal foil. OLEDs are inherently conformable, bendable, and rollable. They're thin, approximately 1/1,000th the thickness of a strand of hair, and OLED displays can also be transparent. UDC materials can be found in the heart of the OLED device, the emissive layer. The emissive layer typically consists of red, green, and blue emitters and hosts. The combination of red, green, and blue creates a full spectrum of colors for your eye to see. The OLED industry is still young, with vast opportunities for growth. In fact, this year we believe the OLED IT adoption cycle for tablets, laptops, and monitors has commenced. This is expected to be a significant growth driver for the OLED industry and for us. 2023 was a significant year for our company. We continue to bolster our leadership position at the forefront of energy-efficient phosphorescent material solutions and best-in-class enabling OLED technologies. As we look to our financial performance, 2023 revenue was $576 million, and net income was $203 million, or $4.24 per diluted share. With a robust balance sheet, a lean operating model, and no debt, we continue to invest in our bright future. In 2023, we laid additional groundwork designed to better support our customers and the growth potential of the OLED industry we see in the years ahead. During the year, we celebrated the grand opening and purchased our new manufacturing site in Shannon, Ireland, which is designed to produce red, green, and blue phosphorescent emissive materials. We strengthened our global IP framework with the acquisition of Merck KGaA's phosphorescent emitter portfolio of more than 550 patents in 172 patent families. Our continued investments in our R&D, our infrastructure, and our people further solidify our leadership position, empowers us to support our customers' growth, and allows us to expand the reach of our innovation. As we look out, there are tremendous opportunities ahead for OLEDs. This slide shows the revenue potential for the OLED display market crossing the $60 billion threshold by 2028, with an extensive range of opportunities that lie before us, including the OLED IT adoption cycle taking off, further OLED penetration in the smartphone market, including the rise of foldables, OLED TV growth, the burgeoning OLED automotive market, as well as AR/VR, wearables, gaming, and signage. On this slide, you can see that the growth trajectory of panel area demand remains strong. As we look out, we believe we are at the beginning of a new multi-year CapEx growth cycle. Samsung, BOE, and Visionox have all announced plans for new 8.6-gen OLED IT fabs, with Samsung and BOE slated to begin production in these new plants in 2026. We also anticipate additional new OLED fab investment announcements. As an integral enabler and partner in the OLED ecosystem, these new capacity plans translate into new revenue opportunities for us and a positive growth trajectory for years to come. As a phosphorescent OLED leader, we work with all of the world's top display and lighting panel makers, including the company shown here. In 2023, we announced new long-term multi-year agreements with BOE Technology Group. As part of our commitment to our customers, we believe in providing extraordinary value through our UniversalPHOLED materials and technologies. Our energy-efficient materials are estimated to cost just pennies per square inch, reduce power consumption, and enable new and innovative product applications, along with numerous other benefits. We value our customers. Our strategic and collaborative advantages include our world-renowned phosphorescent OLED R&D team, our quality global manufacturing capability that can rapidly scale and produce quality materials with our exclusive manufacturing partner, PPG, our advancing performance that meets ever-evolving industry specifications for color point, lifetime, and energy efficiency, and our strong commitment to customers. Our shared visions with our customers and aligned goals have fostered strong long-term partnerships. Together, we navigate the ever-evolving landscape of the OLED industry, drive innovation, and shape a more sustainable future. The benefits of our phosphorescent materials and technology also deepen with each year. We estimate that our phosphorescent OLEDs have helped decrease the power consumption in OLED smartphone displays by 68% since 2015, with another 25% expected when our phosphorescent blue is added to OLED devices. From the invention of phosphorescent OLED technology to the discovery, development, and delivery of next-generation OLED materials and technologies, we are continuously envisioning, strengthening, and advancing our energy efficiency platform. Adding to this is the breakthrough performance of our Plasmonic PHOLED architecture, which should further enhance and extend our energy efficiency roadmap. This multifaceted strategic approach enables us to continue to support our customers, expand our market opportunities, and amplify our value proposition in the OLED ecosystem. OLED proliferation is continuing across the consumer electronics landscape, with new and innovative products being introduced into the market across small, medium, and large sizes. The market research firm Omdia expects OLED penetration in smartphones to reach 54% this year and 60% by 2029. The OLED smartwatch market continues to grow as well. Moving to medium and larger devices, OLED TVs continue to be the top-rated televisions with incredible picture quality, perfect blacks, a wide color gamut to display vibrant colors, a 180-degree viewing angle, and more. Omdia forecasts the OLED TV market to grow from 7.2 million units this year to more than 10 million units in 2030. OLEDs consistently wow consumers with stunning smartphones, watches, and TVs. OLED proliferation is expanding into more devices, including tablets, laptops, and monitors. Omdia projects OLED revenue from the IT segment will triple by 2030 to more than $14 billion, making IT a significant driver for OLED growth in the coming years. The world of automotive displays and lighting is also rapidly advancing. We believe that this provides a great opportunity for OLEDs, which enable unique form factors, energy efficiency, and high contrast that are ideal for automotive applications. As OLED adoption increases in this space, market research firm DSCC projects that automotive OLED display revenue will grow from $1 billion in 2024 to merely $4 billion in 2029. OLEDs are also enabling the form factor revolution. Because OLEDs are inherently conformable, foldable, rollable, and slidable, they open a door for product designers and display makers to create devices that we could only once imagine. UBI Research forecasts that foldable OLED shipments will grow 25% year over year to 27.4 million units in 2024 and will almost double by 2028, reaching 52.7 million units. Market research analysts are projecting continued growth as panel makers and OEMs showcase devices such as tri-fold smartphones, expandable tablets, and other innovative concepts and products. On the OVJP front, we are making continued advancements with our trailblazing manufacturing dry printing process platform. Most recently, we showcased at SID Display Week that we successfully printed a red, green, and blue PHOLED device at 160 PPI, the equivalent of 8K for a 55-in TV. We believe that OVJP will enable high-volume, cost-effective manufacturing of side-by-side RGB OLED TV panels and develop a multi-billion- dollar market opportunity. Vision, innovation, reality has been our motto since inception. Earlier this week, we celebrated UDC's 30th anniversary. In 1994, Sherwin Seligson, our late founder, established UDC with a vision that OLEDs could revolutionize the display and lighting markets back when CRTs were still the mainstream technology. Over the last three decades, our team has been continuously innovating, developing, and delivering state-of-the-art OLED materials and technologies to support and enable our customers in shaping the OLED industry we know today. Now, we are living in a reality with OLED displays seemingly everywhere you look, supporting our work, our communication, and our day-to-day lives. To make this vision a reality, we have an outstanding global organization. With a team of more than 450 scientists, engineers, technicians, and business professionals from more than 25 countries, UDC is headquartered in Ewing, New Jersey, with offices in China, Hong Kong, Ireland, Japan, South Korea, and Taiwan. Our subsidiary Adesis is based in Delaware, OVJP Corporation in Silicon Valley, and UDC Ventures in New York City. Our UniversalPHOLED materials are made at our manufacturing partner PPG's Monroeville, Pennsylvania, and Barberton, Ohio, facilities, and PPG is also producing our UniversalPHOLED materials at our Shannon, Ireland site. As a pioneer and leader in the OLED industry, we have developed and fostered a culture that nurtures collaboration, creativity, and innovation to enable growth while making a positive impact in the world around us. 2023 was another year of continued recognition for our company. We were named to The Wall Street Journal's list of Best Managed Companies, recognized by Newsweek as one of America's Greenest Companies, awarded a silver rating for corporate social responsibility from EcoVadis, and recognized again by the Forum of Executive Women as a champion of board diversity. Our global UDC team continues to build upon our strong culture of inventiveness, integrity, inclusion, and imagination, and deliver on the company's mission of being a critical enabler in the OLED ecosystem. We believe that we are well-positioned for long-term market leadership and long-term profitability in the growing OLED market. With our extensive experience and unwavering focus on innovation and execution, we are pushing the boundaries of what's possible and driving forward breakthroughs and advancements in our phosphorescent material and OLED technology roadmaps. We are excited to reach even greater heights in the future. Looking ahead, we continue to push forward our phosphorescent OLED performance to support the products of tomorrow. This includes enabling new device features, thinner device profiles, and increased brightness through our increasingly efficient materials and technologies. We are proud to play a crucial role in supporting the growth of the OLED industry. In the coming years, we will continue to forge new paths, collaborate with our partners, and remain committed to excellence as we seize on the opportunities ahead and work to expand the already vast horizon of possibility for OLEDs. I would like to take this opportunity to thank each of our employees for their drive, desire, dedication, and heart in elevating and shaping Universal Display's accomplishments and advancements. To our customers and partners, we thank you for collaborations that continue to engender a vast array of design possibilities that are transforming the display and lighting landscapes. And to our shareholders, we thank you for your continued support as we execute on our strategy to deliver on our vision. With that, we will now go into the question and answer session. We will take shareholders' questions that have been submitted during the meeting on the annual meeting website, and we will try to answer as many questions as time allows. Out of consideration for others, we ask that you please limit yourself to one question and note that only questions that are appropriate to the business of the meeting will be answered. Okay, there are no questions for me to respond to, so I now declare this 2024 annual meeting of shareholders closed. Thank you all for joining us today. If you have any follow-up questions, please feel free to reach out to investor relations at investor@oled.com. I want to thank all the company directors, executives, and partners for joining us, and I would like to thank all of our shareholders for your attendance at today's meeting and for your continued support of Universal Display Corporation. This concludes the 2024 annual meeting of shareholders for Universal Display Corporation. Thank you for your participation, and you may now disconnect.