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DIOD > SEC Filings for DIOD > Form 8-K on 10-Jun-2013All Recent SEC Filings

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Form 8-K for DIODES INC /DEL/


10-Jun-2013

Change in Directors or Principal Officers


Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Executive Compensation

On May 29, 2013, Diodes Incorporated (the "Company") held its annual meeting of stockholders at which the stockholders approved the Company's 2013 Equity Incentive Plan (the "2013 Plan"), which was effective upon stockholder approval. The 2013 Plan is described under Proposal Three in, and is filed as Appendix A to, the Company's Definitive Proxy Statement on Schedule 14A for the 2013 annual meeting of stockholders, which was filed with the Securities and Exchange Commission on April 19, 2013. The description of the 2013 Plan is incorporated into this Item 5.02 by reference.

On June 6, 2013, the Compensation Committee of the Board of Directors of the Company, in connection with its annual review of executive compensation,
(i) determined the base salaries of the Company's principal executive officer, principal financial officer and three other most highly compensated executive officers effective June 1, 2013 (collectively, the "NEOs") and (ii) granted non-qualified stock options ("NQSOs") and restricted stock units ("RSUs") to such NEOs as follows:

                                                       Base
Name and Position                                     Salary          NQSOs (1)        RSUs (1)
Dr. Keh-Shew Lu                                      $ 527,000            80,000          80,000
President and Chief Executive Officer
Richard D. White                                     $ 320,000            25,000          11,000
Chief Financial Officer, Secretary and Treasurer
Mark A. King                                         $ 320,000            23,000          10,000
Senior Vice President, Sales and Marketing
Joseph Liu                                           $ 320,000            10,000          10,000
Senior Vice President, Operations
Edmund Tang                                          $ 290,000            10,000          10,000
Vice President, Corporate Administration

(1) The NQSOs and RSUs were granted on June 6, 2013. Such NQSOs are first exercisable, and such RSUs will vest, in four equal annual installments, commencing July 1, 2014 and continuing thereafter on the following three anniversary dates of the first vesting date. The exercise price of the NQSOs is $23.35, which is the closing price of the Company's common stock on June 6, 2013.

Board Compensation

On June 6, 2013, the Compensation Committee, in connection with its annual review of Board compensation, determined that Board compensation would remain unchanged. For 2013, (i) the annual cash retainer for each non-employee director would be $80,000; (ii) the additional annual cash retainer for the chairman and all other members of the Audit Committee would be $20,000 and $10,000, respectively; and (iii) the annual awards of RSUs to the Chairman of the Board, the Vice Chairman of the Board and all other non-employee directors would be 21,500, 14,700 and 4,300 shares, respectively. The RSUs for 2013 were granted on June 6, 2013 and will vest in four equal annual installments, commencing July 1, 2014 and continuing thereafter on the following three anniversary dates of the first vesting date. There will be no other payments for any director activities, except for reimbursement for all costs and expenses incurred for attendance at Board of Directors' meetings. The Board of Directors of the Company, however, may modify such compensation for each director in the future.


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