SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
--------------------
SCHEDULE 13G/A
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS
FILED PURSUANT TO RULES 13d-1(b), (c) AND (d)
AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2(b)
(Amendment No. 1)(1)
Universal Display Corporation
-------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $0.01 par value per share
-------------------------------------------------------------------------------
(Title of Class of Securities)
91347P105
-------------------------------------------------------------------------------
(CUSIP NUMBER)
Joshua Averill
1650 Arch Street, 22nd Floor
Philadelphia, PA 19103
215 977-2000
-------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
April 18, 2006
-------------------------------------------------------------------------------
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[ X ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
--------
(1) The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class
of securities, and for any subsequent amendment containing information
which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 or otherwise subject to the liabilities of that
section of the Act but shall be subject to all other provisions of
the Act (however, see the Notes).
CUSIP No. 760981-10-0
--------------------------------------------------------------------------------
NAME OF REPORTING PERSONS:
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Sherwin I. Seligsohn Irrevocable Indenture of Trust dated 7/29/93
FBO Scott Seligsohn
--------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
--------------------------------------------------------------------------------
SEC USE ONLY
--------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION Philadelphia, Pennsylvania, USA
--------------------------------------------------------------------------------
NUMBER OF SOLE VOTING POWER 0
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
--------------------------------------------------------------------------------
SHARED VOTING POWER 1,676,000
--------------------------------------------------------------------------------
SOLE DISPOSITIVE POWER 0
--------------------------------------------------------------------------------
SHARED DISPOSITIVE POWER 1,676,000
--------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,676,000
--------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
--------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.6%
--------------------------------------------------------------------------------
TYPE OF REPORTING PERSON* OO
--------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
-2-
CUSIP No. 760981-10-0
--------------------------------------------------------------------------------
NAME OF REPORTING PERSONS:
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Sherwin I. Seligsohn Irrevocable Indenture of Trust dated 7/29/93
FBO Lori S. Rubenstein
--------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
--------------------------------------------------------------------------------
SEC USE ONLY
--------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION Philadelphia, Pennsylvania, USA
--------------------------------------------------------------------------------
NUMBER OF SOLE VOTING POWER 0
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
--------------------------------------------------------------------------------
SHARED VOTING POWER 1,676,000
--------------------------------------------------------------------------------
SOLE DISPOSITIVE POWER 0
--------------------------------------------------------------------------------
SHARED DISPOSITIVE POWER 1,676,000
--------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,676,000
--------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
--------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.6%
--------------------------------------------------------------------------------
TYPE OF REPORTING PERSON* OO
--------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
-3-
CUSIP No. 91347P105
--------------------------------------------------------------------------------
NAME OF REPORTING PERSONS:
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Scott Seligsohn
--------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
--------------------------------------------------------------------------------
SEC USE ONLY
--------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION United States
--------------------------------------------------------------------------------
NUMBER OF SOLE VOTING POWER 370,242
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
--------------------------------------------------------------------------------
SHARED VOTING POWER 3,176,000
--------------------------------------------------------------------------------
SOLE DISPOSITIVE POWER 370,242
--------------------------------------------------------------------------------
SHARED DISPOSITIVE POWER 3,176,000
--------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,546,242
--------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
--------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 11.8%
--------------------------------------------------------------------------------
TYPE OF REPORTING PERSON* OO
--------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
-4-
CUSIP No. 91347P105
--------------------------------------------------------------------------------
NAME OF REPORTING PERSONS:
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Lori S. Rubenstein
--------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
--------------------------------------------------------------------------------
SEC USE ONLY
--------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION United States
--------------------------------------------------------------------------------
NUMBER OF SOLE VOTING POWER 125,000
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
--------------------------------------------------------------------------------
SHARED VOTING POWER 3,176,000
--------------------------------------------------------------------------------
SOLE DISPOSITIVE POWER 125,000
--------------------------------------------------------------------------------
SHARED DISPOSITIVE POWER 3,176,000
--------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,301,000
--------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
--------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 11%
--------------------------------------------------------------------------------
TYPE OF REPORTING PERSON* IN
--------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
-5-
CUSIP No. 91347P105
--------------------------------------------------------------------------------
NAME OF REPORTING PERSONS:
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Josh Averill
--------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
--------------------------------------------------------------------------------
SEC USE ONLY
--------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION United States
--------------------------------------------------------------------------------
NUMBER OF SOLE VOTING POWER
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
--------------------------------------------------------------------------------
SHARED VOTING POWER 3,176,000
--------------------------------------------------------------------------------
SOLE DISPOSITIVE POWER
--------------------------------------------------------------------------------
SHARED DISPOSITIVE POWER 3,176,000
--------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,176,000
--------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
--------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 10.6%
--------------------------------------------------------------------------------
TYPE OF REPORTING PERSON* IN
--------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
-6-
CUSIP No. 91347P105
--------------------------------------------------------------------------------
NAME OF REPORTING PERSONS:
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Clifford D. Schlesinger
--------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
--------------------------------------------------------------------------------
SEC USE ONLY
--------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION United States
--------------------------------------------------------------------------------
NUMBER OF SOLE VOTING POWER 0
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
--------------------------------------------------------------------------------
SHARED VOTING POWER 250
--------------------------------------------------------------------------------
SOLE DISPOSITIVE POWER 0
--------------------------------------------------------------------------------
SHARED DISPOSITIVE POWER 250
--------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 250
--------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
--------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) .0008%
--------------------------------------------------------------------------------
TYPE OF REPORTING PERSON* IN
--------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
-7-
ITEM 1(A). NAME OF ISSUER:
Universal Display Corporation (the "Company")
ITEM 1(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
375 Phillips Boulevard
Ewing, New Jersey 08618
ITEM 2(A). NAME OF PERSONS FILING:
This statement is filed by:
A. The Sherwin I. Seligsohn Irrevocable Indenture of
Trust FBO Scott Seligsohn ("Seligsohn Trust"), of
which Scott Seligsohn ("Seligsohn"), Lori S.
Rubenstein ("Rubenstein") and Joshua Averill
("Averill") serve as co-trustees, with respect to (1)
the 1,500,000 shares of common stock, par value $0.01
per share ("Common Stock") of Universal Display
Corporation (the "Company") owned by it and (2) the
176,000 shares of Common Stock owned by American
Biomimetics Corporation (the "ABC Shares"), of which
the Seligsohn Trust and the Sherwin I. Seligsohn
Irrevocable Indenture of Trust FBO Lori S. Rubenstein
("Rubenstein Trust" and, together with the Seligsohn
Trust, the "Trusts") are the principal shareholders.
B. The Rubenstein Trust, of which Seligsohn,
Rubenstein and Averill serve as co-trustees, with
respect to (1) the 1,500,000 shares of Common Stock
of the Company owned by it and (2) the ABC Shares.
C. Seligsohn with respect to (1) the Common Stock
held by the Trusts in his capacity as co-trustee of
the Trusts, (2) the ABC Shares in his capacity as
co-trustee of Trusts in their capacity as
shareholders of American Biomimetics Corporation, (3)
262,750 options to purchase Common Stock and (4) the
107,492 shares of Common Stock owned directly by him.
D. Rubenstein with respect to (1) the Common Stock
held by the Trusts in her capacity as co-trustee of
the Trusts, (2) the ABC Shares in her capacity as
co-trustee of Trusts in their capacity as
shareholders of American Biomimetics Corporation and
(3) the 125,000 shares of Common Stock owned directly
by her.
E. Averill with respect to (1) the Common Stock held
by the Trusts in his capacity as co-trustee of the
Trusts, and (2) the ABC Shares in his capacity as
co-trustee of Trusts in their capacity as
shareholders of ABC Shares.
-8-
F. Schlesinger with respect to 250 shares of Common
Stock owned jointly by Schlesinger and his wife.
The Trusts, Seligsohn, Rubenstein, Averill,
Schlesinger are hereinafter collectively referred to
as the "Reporting Persons."
ITEM 2(B). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
The principal business address of the Trusts is:
c/o Joshua Averill, Esquire
Wolf, Block, Schorr & Solis-Cohen LLP
1650 Arch Street, 22nd Floor
Philadelphia, PA 19103
The principal business address of Seligsohn and
Rubenstein is:
375 Phillips Boulevard
Ewing, NJ 08618
The principal business address of Averill is:
Wolf, Block, Schorr & Solis-Cohen LLP
1650 Arch Street, 22nd Floor
Philadelphia, PA 19103
The principal business address of Schlesinger is:
Goldman, Sachs & Co.
The Mellon Bank Center
1735 Market Street, 26th Floor
Philadelphia, PA 19103
ITEM 2(C). CITIZENSHIP:
The Trust are trusts formed in Pennsylvania, USA.
Seligsohn, Rubenstein, Averill and Schlesinger are
all citizens of the United States.
ITEM 2(D). TITLE OF CLASS OF SECURITIES:
Common Stock, $0.01 par value per share
ITEM 2(E). CUSIP NUMBER:
91347P105
-9-
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(B), OR 13D-2(B) OR (C), CHECK WHETHER THE
PERSON FILING IS A: N/A
(a) [ ] Broker or dealer registered under Section 15 of the Exchange Act;
(b) [ ] Bank as defined in Section 3(a)(6) of the Exchange Act;
(c) [ ] Insurance Company as defined in Section 3(a)(19) of the Exchange Act;
(d) [ ] Investment Company registered under Section 8 of the Investment Company Exchange
Act;
(e) [ ] Investment Adviser in accordance with Rule 13d-1(b)(1)(ii)(E);
(f) [ ] Employee Benefit Plan or Endowment Fund in accordance with Rule 13d-1(b)(1)(ii)(F);
(g) [ ] Parent Holding Company or Control Person in accordance with Rule 13d-1(b)(1)(ii)(G);
(h) [ ] Saving Association as defined in Section 3(b) of The Federal Deposit Insurance Act;
(i) [ ] Church Plan that is excluded from the definition of an Investment Company under
Section 3(c)(14) of the Investment Company Act;
(j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
ITEM 4. OWNERSHIP.
A. Seligsohn Trust
(a) Amount beneficially owned: 1,676,000
(b) Percent of Class: 5.6%
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or to direct the vote: 1,676,000
(iii) Sole power to dispose or direct the disposition of: 0
(iv) Shared power to dispose or to direct the disposition of: 1,676,000
-10-
B. Rubenstein Trust
(a) Amount beneficially owned: 1,676,000
(b) Percent of Class: 5.6%
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or to direct the vote: 1,676,000
(iii) Sole power to dispose or direct the disposition of: 0
(iv) Shared power to dispose or to direct the disposition of: 1,676,000
C. Seligsohn
(a) Amount beneficially owned: 3,546,242
(b) Percent of Class: 11.8%
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote: 370,242
(ii) Shared power to vote or to direct the vote: 3,176,000
(iii) Sole power to dispose or direct the disposition of: 370,242
(iv) Shared power to dispose or to direct the disposition of: 3,176,000
D. Rubenstein
(a) Amount beneficially owned: 3,301,000
(b) Percent of Class: 11%
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote: 125,000
(ii) Shared power to vote or to direct the vote: 3,176,000
(iii) Sole power to dispose or direct the disposition of: 125,000
(iv) Shared power to dispose or to direct the disposition of: 3,176,000
E. Averill
(a) Amount beneficially owned: 3,176,000
(b) Percent of Class: 10.6%
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or to direct the vote: 3,176,000
(iii) Sole power to dispose or direct the disposition of: 0
(iv) Shared power to dispose or to direct the disposition of: 3,176,000
F. Schlesinger
(a) Amount beneficially owned: 250
(b) Percent of Class: .0008%
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or to direct the vote: 250
(iii) Sole power to dispose or direct the disposition of: 0
(iv) Shared power to dispose or to direct the disposition of: 250
-11-
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
Schlesinger
If this statement is being filed to report the fact
that as of the date hereof the reporting person has
ceased to be the beneficial owner of more than five
percent of the class of securities, check the
following: [ X]
As of April 18, 2006, Averill was appointed as
successor Co-Trustee to Schlesinger under the Trusts.
As such Schlesinger is no longer the beneficial owner
of more than 5% of the common stock of the Company.
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER
PERSON.
Seligsohn, Rubenstein and Averill are deemed the
beneficial owners of greater than 5% of the Common
Stock of the Company by virtue of their serving as
co-trustees of the Trusts.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY
WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE
PARENT HOLDING COMPANY.
N/A
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
N/A
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
N/A
ITEM 10. CERTIFICATION.
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are not held for
the purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
-12-
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Sherwin I. Seligsohn Irrevocable Indenture
of Trust dated 7/29/93 FBO Scott Seligsohn
Dated: April 25, 2006 By: /s/ Scott Seligsohn
-------------------
Scott Seligsohn, Co-Trustee
Dated: April 24, 2006 By: /s/ Lori S. Rubenstein
----------------------
Lori S. Rubenstein, Co-Trustee
Dated: April 21, 2006 By: /s/ Joshua Averill
-------------------------------
Joshua Averill, Co-Trustee
Sherwin I. Seligsohn Irrevocable Indenture
of Trust dated 7/29/93 FBO Lori S. Rubenstein
Dated: April 25, 2006 By: /s/ Scott Seligsohn
-------------------
Scott Seligsohn, Co-Trustee
Dated: April 24, 2006 By: /s/ Lori S. Rubenstein
----------------------
Lori S. Rubenstein, Co-Trustee
Dated: April 21, 2006 By: /s/ Joshua Averill
-------------------------------
Joshua Averill, Co-Trustee
Dated: April 25, 2006 /s/ Scott Seligsohn
-------------------
Scott Seligsohn
Dated: April 24, 2006 /s/ Lori S. Rubenstein
----------------------
Lori S. Rubenstein
Dated: April 21, 2006 /s/ Joshua Averill
-----------------------------------
Joshua Averill, Co-Trustee
Dated: April 21, 2006 /s/ Clifford D. Schlesinger
---------------------------
Clifford D. Schlesinger
-13-
EXHIBIT INDEX
-------------
EXHIBITS
1. Joint Filing Agreement, dated April 25, 2006, between the Trusts,
Seligsohn, Rubenstein, Averill and Schlesinger.
-14-
EXHIBIT 1
---------
JOINT FILING AGREEMENT
The undersigned hereby agree that this Statement on Schedule 13G/A with
respect to the beneficial ownership of shares of Common Stock, par value $0.01
per share, of Universal Display Corporation is filed jointly, on behalf of each
of them.
This Agreement may be executed in multiple counterparts, each of which
shall be deemed to be an original as against the other parties whose signatures
appear hereon, and each of which shall together constitute one and the same
instrument. If executed in multiple counterparts, this Agreement shall become
binding when any counterpart or counterparts hereof, individually or taken
together, bear the signatures of all parties reflected hereon as the
signatories.
Sherwin I. Seligsohn Irrevocable Indenture
of Trust dated 7/29/93 FBO Scott Seligsohn
Dated: April 25, 2006 By: /s/ Scott Seligsohn
-------------------
Scott Seligsohn, Co-Trustee
Dated: April 24, 2006 By: /s/ Lori S. Rubenstein
----------------------
Lori S. Rubenstein, Co-Trustee
Dated: April 21, 2006 By: /s/ Joshua Averill
-------------------------------
Joshua Averill, Co-Trustee
Sherwin I. Seligsohn Irrevocable Indenture
of Trust dated 7/29/93 FBO Lori S. Rubenstein
Dated: April 25, 2006 By: /s/ Scott Seligsohn
-------------------
Scott Seligsohn, Co-Trustee
Dated: April 24, 2006 By: /s/ Lori S. Rubenstein
----------------------
Lori S. Rubenstein, Co-Trustee
Dated: April 21, 2006 By: /s/ Joshua Averill
-------------------------------
Joshua Averill, Co-Trustee
Dated: April 25, 2006 /s/ Scott Seligsohn
-------------------
Scott Seligsohn
Dated: April 24, 2006 /s/ Lori S. Rubenstein
----------------------
Lori S. Rubenstein
Dated: April 21, 2006 /s/ Joshua Averill
-----------------------------------
Joshua Averill, Co-Trustee
Dated: April 21, 2006 /s/ Clifford D. Schlesinger
---------------------------
Clifford D. Schlesinger
-15-