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UNITED STATES
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): May 29, 2008
DIODES INCORPORATED
(Exact name of registrant as specified in its charter)
         
Delaware
(State or other jurisdiction
of incorporation or organization) 		  002-25577
(Commission File Number) 		  95-2039518
(I.R.S. Employer Identification No.)
     
15660 North Dallas Parkway Suite 850
Dallas, Texas
(Address of principal executive offices) 		  75248
(Zip Code)
(972) 385-2810
(Registrant’s telephone number, including area code)
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:
o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 

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

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Item 5.02.   Departure of Directors or Principal Officers; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers.
          (e) Adjustment to Executive Compensation
     On May 29, 2008, the Compensation Committee of the Board of Directors of the Company, in connection with its annual review of executive compensation, approved the base salary and 2008 stock option and restricted stock unit (“RSU”) grants for the executive officers as follows:
                         
Name and Position   Base Salary     Stock Options (1)     RSUs (1)  
Dr. Keh-Shew Lu
   $ 343,000       111,000       —  
President and Chief Executive Officer
                        
 
                        
Joseph Liu
   $ 248,000       26,000       5,000  
Senior Vice President, Operations
                        
 
                        
Mark A. King
   $ 215,000       25,000       4,500  
Senior Vice President, Sales and Marketing
                        
 
                        
Carl C. Wertz
   $ 170,000       12,000       3,000  
Chief Financial Officer, Secretary and Treasurer
                        
 
                        
Francis Tang
   $ 150,000       9,000       3,000  
Vice President, Discrete Product Development
                        
 
                        
Steven Ho
   $ 141,000       13,000       3,800  
Asia President and Vice President, Asia Sales and Marketing
                        
 
                        
Richard D. White
   $ 170,000       15,000       3,800  
Senior Vice President, Finance
                        
 
Edmund Tang
   $ 163,000       12,000       3,000  
Vice President, Corporate Administration
                        

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Name and Position   Base Salary     Stock Options (1)     RSUs (1)  
Julie Holland,
   $ 150,000       9,000       3,000  
Vice President, Worldwide Analog Products
                        
 
                        
T.J. Lee
   $ 197,000       9,000       3,000  
Vice President, Packaging Operations
                        
 
                        
Colin Greene
   $ 346,000       —       —  
European President and Vice President, European Sales and Marketing
                        
 
(1)   The stock options and RSUs were granted on May 29, 2008. Such options are first exercisable, and such RSUs will vest, in four equal annual installments, commencing on the first anniversary of the date of grant, May 29, 2009. The exercise price of the options is $27.95, the closing price of the Company’s common stock on May 29, 2008.

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     Adjustment to Board Compensation
     On May 29, 2008, the Compensation Committee of the Board of Directors approved changes to the compensation for the non-employee members of the Board as follows: except the Chairman and the Vice Chairman of the Board, each non-employee director will be granted RSUs for 4,300 shares. The Chairman of the Board will be granted RSUs for 21,500 shares, and the Vice Chairman of the Board will be granted RSUs for 14,700 shares. There will be no other payments for any director activities, except for reimbursement for all costs incurred for attendance at Board of Director meetings.
     The Board compensation for each of the non-employee directors is as follows:
                                 
    Retainer   RSUs (1)
            Audit            
    Annual   Committee   Total   Annual
Raymond Soong
  $ 80,000       —     $ 80,000       21,500  
C.H. Chen
  $ 80,000       —     $ 80,000       14,700  
Michael R. Giordano
  $ 80,000     $ 20,000     $ 100,000       4,300  
John M. Stich
  $ 80,000     $ 10,000     $ 90,000       4,300  
Shing Mao
  $ 80,000       —     $ 80,000       4,300  
L.P.Hsu
  $ 80,000     $ 10,000     $ 90,000       4,300  
 
(1)   The RSUs were granted on May 29, 2008 and will vest, in four equal annual installments, commencing on the first anniversary of the date of grant, May 29, 2009.

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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 thereunto duly authorized.
         
  DIODES INCORPORATED
 		  
Date: June 4, 2008  By   /s/ Carl C. Wertz    
    Carl C. Wertz,   
    Chief Financial Officer   
 

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