UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b) Effective February 25, 2025, Dr. Patrick Bruno resigned from the Board of Directors of DIH Holding US, Inc. (the “Company”) and the boards of the Company’s subsidiaries. The Board of Directors of the Company does not anticipate immediately filling the vacancy and will reduce the size of the Board to five members. Dr. Bruno also resigned as Chief Market Officer of the Company’s subsidiary, Hocoma Medical GmbH and from his Director position at the Company’s significant related party Hocoma AG.
In connection with his resignation, Hocoma Medical GmbH and Dr. Bruno entered into a Termination Agreement dated February 25, 2025, (the “Termination Agreement”), a copy of which is filed as Exhibit 10.1 hereto and is incorporated by reference herein. Pursuant to and subject to the limitations set forth in the Termination Agreement, the parties agreed to mutual releases that resulted from Dr. Bruno’s violations of the Company’s policies . Dr. Bruno agreed to confidentiality and non-disparagement provisions as well. The Termination Agreement provides that Dr. Bruno is entitled to his salary through the date of the resignation although he would not be entitled to any bonus for the current fiscal year or any unpaid portion of the prior fiscal year bonus. Dr. Bruno will receive no severance payment.
The Termination Agreement supersedes and replaces the existing Employment Agreement, dated May 12, 2017, by and between the Company and Dr. Bruno. The foregoing description of the Termination Agreement does not purport to be complete, and is qualified in its entirety by reference to the full text of the Termination Agreement, a copy of which is attached hereto as Exhibit 10.1 and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
10.1 | Termination Agreement, dated February 25, 2025 by and between Hocoma AG and/or Hocoma Medical GmbH and Dr. Patrick Bruno. | |
104 | Cover Page Interactive Data File (Formatted in Inline XBRL) |
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.
DIH HOLDING US, INC. | |||
Date: March 3, 2025 | By: | /s/ Jason Chen | |
Jason Chen Chief Executive Officer and Chairman |