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Prepared and filed by St Ives Financial
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<p align="center"><font size="2" face="serif"><b>SECURITIES AND EXCHANGE COMMISSION</b></font></p>
<p align="center"><font size="2" face="serif"><b>WASHINGTON, D.C.  20549</b></font></p>
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<p align="center"><font size="2" face="serif"><b>FORM 8-K</b></font></p>
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<p align="center"><font size="2" face="serif"><b>CURRENT REPORT</b></font><br>
<font size="2" face="serif"><b>PURSUANT TO SECTION 13 OR 15(D) OF THE</b></font><br>
<font size="2" face="serif"><b>SECURITIES EXCHANGE ACT OF 1934</b></font></p>
<p align="center"><font size="2" face="serif">Date of report (Date of earliest event reported):  <u>August 1, 2006 (July 31, 2006)</u></font></p>
<p align="center"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Universal
      Display Corporation</u></font><br>
<font size="2" face="serif">(Exact Name of Registrant Specified in Charter)</font></p>  <table width="100%" cellspacing="0" cellpadding="0" border="0">
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<td align="center" width="35%"><font size="2" face="serif"><u>Pennsylvania</u></font><br><font size="2" face="serif">(State or Other <br>
  Jurisdiction of <br>
  Incorporation)</font></td>
<td align="center" width="29%"><font size="2" face="serif"><u>1-12031</u></font><br><font size="2" face="serif">(Commission<br>File Number)</font></td>
<td align="center"><font size="2" face="serif"><u>23-2372688</u></font><br><font size="2" face="serif">(I.R.S. Employer <br>
  Identification No.)</font></td>
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<td><font size="2" face="serif">375 Phillips Boulevard</font></td>
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<td><font size="2" face="serif">Ewing, New Jersey</font></td>
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<td><font size="2" face="serif">08618</font></td>
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<td><font size="2" face="serif">(Address of Principal Executive Offices)</font></td>
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<td><font size="2" face="serif">(Zip Code)</font></td>
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<p align="center"><font size="2" face="serif">Registrant&#8217;s telephone number, including area code:  <u>(609) 671-0980</u></font></p>
<p align="left"><font size="2" face="serif">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):</font></p>
<p align="left"><font size="2" face="serif" align="left"><img src="emptybox.gif" width="12" height="12">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p>
<p align="left"><font size="2" face="serif" align="left"><img src="emptybox.gif" width="12" height="12">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>
<p align="left"><font size="2" face="serif" align="left"><img src="emptybox.gif" width="12" height="12">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>
<p align="left"><font size="2" face="serif" align="left"><img src="emptybox.gif" width="12" height="12">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p>
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<p align="left"><font size="2" face="serif"><b>Item 1.01 Entry into a Material
      Definitive Agreement.</b></font></p>
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On July 31, 2006, the Registrant entered into a Settlement and License Agreement with Seiko Epson Corporation (&#8220;Epson&#8221;).  Under the terms of the agreement, the Registrant licensed one of its ink jet printing patents and certain related patent filings to Epson.  Epson&#8217;s license rights include the right to grant sublicenses to third parties, subject to specified limitations in the agreement.  In consideration of the license, the parties resolved outstanding issues concerning the licensed patent rights and Epson agreed to pay a fixed amount to the Registrant.  If, within a specified period of time, the parties enter into a broader license agreement covering other aspects of the Registrant&#8217;s OLED
patent portfolio, this amount is creditable against license fees and royalties payable under that broader license agreement.</font></p>
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<p align="center"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>SIGNATURES</b></font></p>
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></p>
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    <td colspan="2"><font size="2" face="serif"><b>UNIVERSAL DISPLAY CORPORATION</b></font></td>
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    <td><font size="2" face="serif">By:</font></td>
    <td><font size="2" face="serif"> <u>/s/ Sidney D. Rosenblatt&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font></td>
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    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><font size="2" face="serif">Sidney D. Rosenblatt</font></td>
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    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><font size="2" face="serif">Executive Vice President, Chief Financial
        <br>
    Officer, Treasurer and Secretary</font></td>
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    <td>&nbsp;</td>
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<p align="left"><font size="2" face="serif">Dated:  August 1, 2006</font></p>
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<p align="center"><font face="serif" size="2">- 3 -</font></p>
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Prepared and filed by St Ives Financial
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.  20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported):
August 1, 2006 (July 31, 2006)
Universal
      Display Corporation
(Exact Name of Registrant Specified in Charter)
Pennsylvania
(State or Other
Jurisdiction of
Incorporation)
1-12031
(Commission
File Number)
23-2372688
(I.R.S. Employer
Identification No.)
375 Phillips Boulevard
Ewing, New Jersey
08618
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including area code:
(609) 671-0980
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 Entry into a Material
      Definitive Agreement.
On July 31, 2006, the Registrant entered into a Settlement and License Agreement with Seiko Epson Corporation ("Epson").  Under the terms of the agreement, the Registrant licensed one of its ink jet printing patents and certain related patent filings to Epson.  Epson's license rights include the right to grant sublicenses to third parties, subject to specified limitations in the agreement.  In consideration of the license, the parties resolved outstanding issues concerning the licensed patent rights and Epson agreed to pay a fixed amount to the Registrant.  If, within a specified period of time, the parties enter into a broader license agreement covering other aspects of the Registrant's OLED
patent portfolio, this amount is creditable against license fees and royalties payable under that broader license agreement.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
UNIVERSAL DISPLAY CORPORATION
By:
/s/ Sidney D. Rosenblatt
Sidney D. Rosenblatt
Executive Vice President, Chief Financial
Officer, Treasurer and Secretary
Dated:  August 1, 2006
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