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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
October 31, 2006
Diomed Holdings, Inc.
Delaware 000-32045 84-1480636
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
1 Dundee Park, Andover, MA 01810
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (978-475-7771)
Item 5.02 Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers
The Board of Directors of Diomed Holdings, Inc. (the "Company") has
appointed William D. Allan as the managing director of its wholly-owned United
Kingdom subsidiary, Diomed, Ltd., effective November 1, 2006. In this role, Mr.
Allan will be responsible for planning, developing and implementing corporate
programs related to the management of the Company's U.K. operations including
research and development, manufacturing, quality, regulatory, finance,
information technology, human resources, global customer support and
administration, as well as sales and marketing outside of the Americas. Prior to
his appointment to this position, Mr. Allan was for the past fifteen years an
officer and employee of Smith & Nephew. Most recently he held the position of
Global Vice President - Marketing for Smith & Nephew Wound Management.
The Company has entered into an agreement with Mr. Allan under which
his annual salary is (pound)105,000. On the approval of the Compensation
Committee of the Company's board of directors, the Company will grant Mr. Allan
options for 75,000 of the Company's shares under its equity incentive plan. The
exercise price will be set in accordance with the incentive plan. Mr. Allan also
is eligible to participate in the Company's bonus plan and is eligible to
receive 30% of his annual salary by meeting quantitative objectives. For 2006,
payout will be prorated based on time employed. If the Company terminates Mr.
Allan's employment without cause (as defined by his employment agreement), he
will be entitled to receive as severance an amount equal to 12 months' salary.
The Company has also agreed to provide Mr. Allan with an annual transportation
allowance of (pound)13,440 paid monthly, as well as temporary living expenses
and relocation expenses.
Item 9.01 Financial Statements and Exhibits
99.1 Press Release by Diomed Holdings, Inc., dated October 31, 2006
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.
Diomed Holdings, Inc.
(Registrant)
Date: October 31, 2006 By: /s/ DAVID B. SWANK
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Name: David B. Swank
Title: Chief Financial Officer
List of Exhibits:
99.1 Press Release by Diomed Holdings, Inc. dated October 31, 2006