DIEBOLD NIXDORF, INC, DEF 14A filed on 3/14/2025
Proxy Statement (definitive)
v3.25.0.1
Cover
 12 Months Ended
Dec. 31, 2024
Document Information [Line Items]  
Document Type DEF 14A
Amendment Flag false
Entity Information [Line Items]  
Entity Registrant Name Diebold Nixdorf, Incorporated
Entity Central Index Key 0000028823
v3.25.0.1
Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table
2024
PAY-VERSUS-PERFORMANCE
 
 
 
 FISCAL
 YEAR
  
SUMMARY
COMPENSATION
TABLE TOTAL
FOR PEO #1
($)
(1)
    
COMPENSATION
ACTUALLY PAID
TO PEO #1
($)
(1)(2)
    
SUMMARY
COMPENSATION
TABLE TOTAL
FOR PEO #2
($)
(1)(2)
    
COMPENSATION
ACTUALLY PAID
TO
PEO#2
($)
(2)
    
AVERAGE
SUMMARY
COMPENSATION
TABLE TOTAL
FOR
NON-PEO
NEOS
($)
(3)
    
AVERAGE
COMPENSATION
ACTUALLY PAID
TO
NON-PEO
NEOS
($)
(2)(3)
    
VALUE OF INITIAL
FIXED $100
INVESTMENT
BASED ON:
    
NET
INCOME
(LOSS)
($ IN
MM)
(5)
    
NON-GAAP
OP
($ IN
MM)
(5)(6)
  
 
COMPANY
TSR
($)
(4)
    
PEER
GROUP
TSR
($)
(4)
  
 2024     9,526,709       12,537,384           3,365,944       3,166,911       209.24       117.12       (16.5 )      305.3  
 2023     2,248,413       1,562,882           1,683,294       1,508,530       134.65       105.81       1,376.1       344.4  
 2022     5,660,334       1,604,309       4,291,389       (9,050,186 )      2,715,165       698,389           (581.4 )      197.5  
 2021         26,169,529       16,042,728       3,586,248       1,842,238           (78.8 )      332.7  
 2020  
 
 
 
  
 
 
 
     5,312,150       4,760,010       1,648,091       1,542,660    
 
 
 
  
 
 
 
     (269.1 )      335.4  
 
(1)
Mr. Marquez (PEO #1) became President and Chief Executive Officer of the Company on March 11, 2022. Mr. Schmid (PEO #2), the Company’s prior President and Chief Executive Officer, stepped down from the role effective on the same date.
 
(2)
The “Compensation Actually Paid” reported in this column is derived from the Summary Compensation Table Total for the applicable fiscal year by making the following deductions and additions:
PEO #1
 
   
2024
 
    
2023
 
    
2022
 
  
 
Summary Compensation Table (“SCT”) Total
 
   $
 
 9,526,709
 
  
 
   $
 
 2,248,413
 
  
 
   $
 
 5,660,334
 
  
 
 
Less
:
 
      
 
SCT—Stock Awards
 
  
 
 
 
 
(4,219,371
 
 
) 
 
  
 
 
 
 
—
 
 
 
 
  
 
 
 
 
(4,343,685
 
 
) 
 
 
SCT—Option Awards
 
  
 
 
 
 
(2,734,838
 
 
) 
 
  
 
 
 
 
—
 
 
 
 
  
 
 
 
 
—
 
 
 
 
 
Prior FYE fair value for awards that failed to meet vesting conditions during FY
 
  
 
 
 
—
 
 
  
 
 
 
(845,044
 
) 
  
 
 
 
—
 
 
 
Plus
:
 
      
 
Fair value of awards granted during fiscal year (“FY”) outstanding and unvested at fiscal
year-end
(“FYE”)
 
  
 
 
 
9,964,884
 
 
  
 
 
 
—
 
 
  
 
 
 
847,257
 
 
 
Change in fair value of awards granted in prior years unvested at FYE
 
    
 
 —
 
  
 
    
 
 —
 
  
 
    
 
 (544,491
 
 ) 
 
 
Change in fair value of awards granted in prior years that met vesting conditions during FY
 
  
 
 
 
 
—
 
 
 
 
  
 
 
 
 
159,513
 
 
 
 
  
 
 
 
 
(15,106
 
 
) 
 
 
Compensation Actually Paid
 
  
 
$
 
 
12,537,384
 
 
 
 
  
 
$
 
 
1,562,882
 
 
 
 
  
 
$
 
 
1,604,309
 
 
 
 
PEO #2
 
   
2022
 
    
2021
 
    
2020
 
  
 
Summary Compensation Table (“SCT”) Total
 
   $
 
 4,291,389
 
  
 
   $
 
 26,169,529
 
  
 
   $
 
 5,312,150
 
  
 
 
Less
:
 
      
 
SCT—Stock Awards
 
  
 
 
 
 
—
 
 
 
 
  
 
 
 
 
(22,104,207
 
 
) 
 
  
 
 
 
 
(1,629,598
 
 
) 
 
 
SCT—Option Awards
 
  
 
 
 
 
—
 
 
 
 
  
 
 
 
 
—
 
 
 
 
  
 
 
 
 
(1,543,755
 
 
) 
 
 
Prior FYE fair value for awards that failed to meet vesting conditions during FY
 
  
 
 
 
 
(13,246,648
 
 
) 
 
  
 
 
 
 
(2,256,669
 
 
) 
 
  
 
 
 
 
—
 
 
 
 
 
Plus
:
 
      
 
Fair value of awards granted during fiscal year (“FY”) outstanding and unvested at fiscal
year-end
(“FYE”)
 
  
 
 
 
 
—
 
 
 
 
  
 
 
 
 
13,434,625
 
 
 
 
  
 
 
 
 
2,277,665
 
 
 
 
 
Change in fair value of awards granted in prior years unvested at FYE
 
  
 
 
 
 
—
 
 
 
 
  
 
 
 
 
208,654
 
 
 
 
  
 
 
 
 
281,159
 
 
 
 
 
Change in fair value of awards granted in prior years that met vesting conditions during FY
 
  
 
 
 
 
(94,927
 
 
) 
 
  
 
 
 
 
590,795
 
 
 
 
  
 
 
 
 
62,389
 
 
 
 
 
Compensation Actually Paid
 
  
 
$
 
 
(9,050,186
 
 
) 
 
  
 
$
 
 
16,042,728
 
 
 
 
  
 
$
 
 
4,760,010
 
 
 
 
 
    
Average of
Non-PEO
NEOs
 
   
2024
 
    
2023
 
    
2022
 
    
2021
 
    
2020
 
  
 
Summary Compensation Table Total (Average)
 
   $
 
 3,365,944
 
  
 
   $
 
 1,683,294
 
  
 
   $
 
 2,715,165
 
  
 
   $
 
 3,586,248
 
  
 
   $
 
 1,648,091
 
  
 
 
Less
:
 
          
 
SCT—Stock Awards
 
  
 
 
 
 
(949,680
 
 
) 
 
  
 
 
 
 
—
 
 
 
 
  
 
 
 
 
(1,621,070
 
 
) 
 
  
 
 
 
 
(2,178,772
 
 
) 
 
  
 
 
 
 
(301,225
 
 
) 
 
 
SCT—Option Awards
 
  
 
 
 
 
(777,729
 
 
) 
 
  
 
 
 
 
—
 
 
 
 
  
 
 
 
 
—
 
 
 
 
  
 
 
 
 
—
 
 
 
 
  
 
 
 
 
(71,341
 
 
) 
 
 
SCT—Change in Pension value and
Non-Qualified
Deferred Compensation Earnings
 
  
 
 
 
 
(36,842
 
 
) 
 
  
 
 
 
 
(19,947
 
 
) 
 
  
 
 
 
 
(894
 
 
) 
 
  
 
 
 
 
(26,736
 
 
) 
 
  
 
 
 
 
(31,535
 
 
) 
 
 
Prior FYE fair value for awards that failed to meet vesting conditions during FY
 
  
 
 
 
 
(212,990
 
 
) 
 
  
 
 
 
 
(222,148
 
 
) 
 
  
 
 
 
 
(201,203
 
 
) 
 
  
 
 
 
 
(251,068
 
 
) 
 
  
 
 
 
 
(147,782
 
 
) 
 
 
Plus
:
 
          
 
Fair value of awards granted during FY outstanding and unvested at FYE
 
  
 
 
 
 
1,740,458
 
 
 
 
  
 
 
 
 
—
 
 
 
 
  
 
 
 
 
101,343
 
 
 
 
  
 
 
 
 
612,789
 
 
 
 
  
 
 
 
 
397,084
 
 
 
 
 
Change in fair value of awards granted in prior years unvested at FYE
 
  
 
 
 
 
—
 
 
 
 
  
 
 
 
 
—
 
 
 
 
  
 
 
 
 
(303,296
 
 
) 
 
  
 
 
 
 
23,320
 
 
 
 
  
 
 
 
 
26,218
 
 
 
 
 
Vesting fair value of awards granted in FY that vested during the FY
 
  
 
 
 
 
—
 
 
 
 
  
 
 
 
 
—
 
 
 
 
  
 
 
 
 
8,660
 
 
 
  
 
 
 
 
—
 
 
 
 
  
 
 
 
 
—
 
 
 
 
 
Change in fair value of awards granted in prior years that met vesting conditions during FY
 
  
 
 
 
 
—
 
 
 
 
  
 
 
 
 
57,903
 
 
 
  
 
 
 
 
(13,816
 
 
) 
 
  
 
 
 
 
53,208
 
 
 
  
 
 
 
 
3,350
 
 
 
 
Service cost for defined benefit and actuarial pension plans
 
  
 
 
 
 
37,750
 
 
 
 
  
 
 
 
 
9,429
 
 
 
  
 
 
 
 
13,500
 
 
 
 
  
 
 
 
 
23,250
 
 
 
  
 
 
 
 
19,800
 
 
 
 
Compensation Actually Paid
 
  
 
$
 
 
3,166,911
 
 
 
 
  
 
$
 
 
1,508,530
 
 
 
  
 
$
 
 
698,389
 
 
 
  
 
$
 
 
1,842,238
 
 
 
  
 
$
 
 
1,542,660
 
 
 
 
 
(3)
The following table sets for the individuals included in the
non-PEO
NEO Average for each fiscal year presented above:
 
2024
  
2023
  
2022
  
2021
  
2020
Thomas Timko
   James Barna   Jeffrey Rutherford   Jeffrey Rutherford   Jeffrey Rutherford
Jonathan Myers
   Jonathan Myers   Ulrich Näher   Ulrich Näher   Ulrich Näher
Frank Baur
   Elizabeth Radigan   David Caldwell   Olaf Heyden   Olaf Heyden
Ilhami Cantadurucu
   Ilhami Cantadurucu   Jonathan Leiken   Jonathan Leiken   Jonathan Leiken
James Barna
   Jeffrey Rutherford   Elizabeth Patrick     Alan Kerr
  Olaf Heyden      
 
   Hermann Wimmer  
 
  
 
  
 
 
(4)
Consistent with Regulation
S-K
Section 203(e)(3), the amounts set forth under the headings “
Company TSR” and
“
Peer Group TSR
” reflect the value, as of the end of 2023, of a hypothetical initial investment of $100 made on August 14, 2023 (the date that the Company’s common stock was registered under Section 12 of the Exchange Act) into, with respect to Company TSR, the Company, and with respect to Peer Group TSR, the S&P MidCap 400 index. Because the class of Company securities currently registered under Section 12 of the Exchange Act is not the same class of Company securities that was registered in the periods prior to emergence (including fiscal years 2022, 2021, and 2020), neither Company TSR nor Peer Group TSR are presented for such periods.
 
(5)
For Fiscal Year 2023, Net Income (Loss) and
Non-GAAP
OP are comprised of (a) the period from January 1, 2023 through August 11, 2023, the period prior to when the Company emerged from bankruptcy, and (b) the period from August 12, 2023 through December 31, 2023, the period subsequent to when the Company emerged from bankruptcy. These two periods have been combined solely to meet the
SEC-defined
structure for this Pay Versus Performance table, however, in accordance with GAAP, the Company does not combine these two periods in any of its financial statements and/or related filings. For the period from January 1, 2023 through August 11, 2023, Net Income was $1,357,500,000 and
Non-GAAP
OP (Loss) was ($5,500,000). For the period from August 12, 2023 through December 31, 2023, Net Income was $19,100,000 and
Non-GAAP
OP was $92,400,000.
 
 
    
(6)
The amount reported for
Non-GAAP
OP in this table
includes
the amortization of fair valued assets recognized in connection with Fresh Start Accounting. Accordingly, the
Non-GAAP
OP reported in this table is consistent with
Non-GAAP
OP as reported in the Company’s earnings release for its 2024 fiscal fourth quarter dated February 12, 2025. The Committee determined that
Non-GAAP
OP was the most important financial performance metric used to link Company performance to Compensation Actually Paid to our PEO and
Non-PEO
NEOs for 2024. More information about
Non-GAAP
OP can be found under the heading “
Definitions of Key Compensation Terms
” in the “
Compensation Discussion and Analysis
.” This performance measure may not have been the most important financial performance measure for years 2023, 2022, 2021 or 2020 and we may determine a different financial performance measure to be the most important financial performance measure in future years.
       
Company Selected Measure Name Non-GAAP OP        
Named Executive Officers, Footnote
(3)
The following table sets for the individuals included in the
non-PEO
NEO Average for each fiscal year presented above:
 
2024
  
2023
  
2022
  
2021
  
2020
Thomas Timko
   James Barna   Jeffrey Rutherford   Jeffrey Rutherford   Jeffrey Rutherford
Jonathan Myers
   Jonathan Myers   Ulrich Näher   Ulrich Näher   Ulrich Näher
Frank Baur
   Elizabeth Radigan   David Caldwell   Olaf Heyden   Olaf Heyden
Ilhami Cantadurucu
   Ilhami Cantadurucu   Jonathan Leiken   Jonathan Leiken   Jonathan Leiken
James Barna
   Jeffrey Rutherford   Elizabeth Patrick     Alan Kerr
  Olaf Heyden      
 
   Hermann Wimmer  
 
  
 
  
 
       
Peer Group Issuers, Footnote Consistent with Regulation
S-K
Section 203(e)(3), the amounts set forth under the headings “
Company TSR” and
“
Peer Group TSR
” reflect the value, as of the end of 2023, of a hypothetical initial investment of $100 made on August 14, 2023 (the date that the Company’s common stock was registered under Section 12 of the Exchange Act) into, with respect to Company TSR, the Company, and with respect to Peer Group TSR, the S&P MidCap 400 index. Because the class of Company securities currently registered under Section 12 of the Exchange Act is not the same class of Company securities that was registered in the periods prior to emergence (including fiscal years 2022, 2021, and 2020), neither Company TSR nor Peer Group TSR are presented for such periods. 		       
Adjustment To PEO Compensation, Footnote
(2)
The “Compensation Actually Paid” reported in this column is derived from the Summary Compensation Table Total for the applicable fiscal year by making the following deductions and additions:
PEO #1
 
   
2024
 
    
2023
 
    
2022
 
  
 
Summary Compensation Table (“SCT”) Total
 
   $
 
 9,526,709
 
  
 
   $
 
 2,248,413
 
  
 
   $
 
 5,660,334
 
  
 
 
Less
:
 
      
 
SCT—Stock Awards
 
  
 
 
 
 
(4,219,371
 
 
) 
 
  
 
 
 
 
—
 
 
 
 
  
 
 
 
 
(4,343,685
 
 
) 
 
 
SCT—Option Awards
 
  
 
 
 
 
(2,734,838
 
 
) 
 
  
 
 
 
 
—
 
 
 
 
  
 
 
 
 
—
 
 
 
 
 
Prior FYE fair value for awards that failed to meet vesting conditions during FY
 
  
 
 
 
—
 
 
  
 
 
 
(845,044
 
) 
  
 
 
 
—
 
 
 
Plus
:
 
      
 
Fair value of awards granted during fiscal year (“FY”) outstanding and unvested at fiscal
year-end
(“FYE”)
 
  
 
 
 
9,964,884
 
 
  
 
 
 
—
 
 
  
 
 
 
847,257
 
 
 
Change in fair value of awards granted in prior years unvested at FYE
 
    
 
 —
 
  
 
    
 
 —
 
  
 
    
 
 (544,491
 
 ) 
 
 
Change in fair value of awards granted in prior years that met vesting conditions during FY
 
  
 
 
 
 
—
 
 
 
 
  
 
 
 
 
159,513
 
 
 
 
  
 
 
 
 
(15,106
 
 
) 
 
 
Compensation Actually Paid
 
  
 
$
 
 
12,537,384
 
 
 
 
  
 
$
 
 
1,562,882
 
 
 
 
  
 
$
 
 
1,604,309
 
 
 
 
PEO #2
 
   
2022
 
    
2021
 
    
2020
 
  
 
Summary Compensation Table (“SCT”) Total
 
   $
 
 4,291,389
 
  
 
   $
 
 26,169,529
 
  
 
   $
 
 5,312,150
 
  
 
 
Less
:
 
      
 
SCT—Stock Awards
 
  
 
 
 
 
—
 
 
 
 
  
 
 
 
 
(22,104,207
 
 
) 
 
  
 
 
 
 
(1,629,598
 
 
) 
 
 
SCT—Option Awards
 
  
 
 
 
 
—
 
 
 
 
  
 
 
 
 
—
 
 
 
 
  
 
 
 
 
(1,543,755
 
 
) 
 
 
Prior FYE fair value for awards that failed to meet vesting conditions during FY
 
  
 
 
 
 
(13,246,648
 
 
) 
 
  
 
 
 
 
(2,256,669
 
 
) 
 
  
 
 
 
 
—
 
 
 
 
 
Plus
:
 
      
 
Fair value of awards granted during fiscal year (“FY”) outstanding and unvested at fiscal
year-end
(“FYE”)
 
  
 
 
 
 
—
 
 
 
 
  
 
 
 
 
13,434,625
 
 
 
 
  
 
 
 
 
2,277,665
 
 
 
 
 
Change in fair value of awards granted in prior years unvested at FYE
 
  
 
 
 
 
—
 
 
 
 
  
 
 
 
 
208,654
 
 
 
 
  
 
 
 
 
281,159
 
 
 
 
 
Change in fair value of awards granted in prior years that met vesting conditions during FY
 
  
 
 
 
 
(94,927
 
 
) 
 
  
 
 
 
 
590,795
 
 
 
 
  
 
 
 
 
62,389
 
 
 
 
 
Compensation Actually Paid
 
  
 
$
 
 
(9,050,186
 
 
) 
 
  
 
$
 
 
16,042,728
 
 
 
 
  
 
$
 
 
4,760,010
 
 
 
 
       
Non-PEO NEO Average Total Compensation Amount $ 3,365,944 $ 1,683,294 $ 2,715,165 $ 3,586,248 $ 1,648,091
Non-PEO NEO Average Compensation Actually Paid Amount $ 3,166,911 1,508,530 698,389 1,842,238 1,542,660
Adjustment to Non-PEO NEO Compensation Footnote
Average of
Non-PEO
NEOs
 
   
2024
 
    
2023
 
    
2022
 
    
2021
 
    
2020
 
  
 
Summary Compensation Table Total (Average)
 
   $
 
 3,365,944
 
  
 
   $
 
 1,683,294
 
  
 
   $
 
 2,715,165
 
  
 
   $
 
 3,586,248
 
  
 
   $
 
 1,648,091
 
  
 
 
Less
:
 
          
 
SCT—Stock Awards
 
  
 
 
 
 
(949,680
 
 
) 
 
  
 
 
 
 
—
 
 
 
 
  
 
 
 
 
(1,621,070
 
 
) 
 
  
 
 
 
 
(2,178,772
 
 
) 
 
  
 
 
 
 
(301,225
 
 
) 
 
 
SCT—Option Awards
 
  
 
 
 
 
(777,729
 
 
) 
 
  
 
 
 
 
—
 
 
 
 
  
 
 
 
 
—
 
 
 
 
  
 
 
 
 
—
 
 
 
 
  
 
 
 
 
(71,341
 
 
) 
 
 
SCT—Change in Pension value and
Non-Qualified
Deferred Compensation Earnings
 
  
 
 
 
 
(36,842
 
 
) 
 
  
 
 
 
 
(19,947
 
 
) 
 
  
 
 
 
 
(894
 
 
) 
 
  
 
 
 
 
(26,736
 
 
) 
 
  
 
 
 
 
(31,535
 
 
) 
 
 
Prior FYE fair value for awards that failed to meet vesting conditions during FY
 
  
 
 
 
 
(212,990
 
 
) 
 
  
 
 
 
 
(222,148
 
 
) 
 
  
 
 
 
 
(201,203
 
 
) 
 
  
 
 
 
 
(251,068
 
 
) 
 
  
 
 
 
 
(147,782
 
 
) 
 
 
Plus
:
 
          
 
Fair value of awards granted during FY outstanding and unvested at FYE
 
  
 
 
 
 
1,740,458
 
 
 
 
  
 
 
 
 
—
 
 
 
 
  
 
 
 
 
101,343
 
 
 
 
  
 
 
 
 
612,789
 
 
 
 
  
 
 
 
 
397,084
 
 
 
 
 
Change in fair value of awards granted in prior years unvested at FYE
 
  
 
 
 
 
—
 
 
 
 
  
 
 
 
 
—
 
 
 
 
  
 
 
 
 
(303,296
 
 
) 
 
  
 
 
 
 
23,320
 
 
 
 
  
 
 
 
 
26,218
 
 
 
 
 
Vesting fair value of awards granted in FY that vested during the FY
 
  
 
 
 
 
—
 
 
 
 
  
 
 
 
 
—
 
 
 
 
  
 
 
 
 
8,660
 
 
 
  
 
 
 
 
—
 
 
 
 
  
 
 
 
 
—
 
 
 
 
 
Change in fair value of awards granted in prior years that met vesting conditions during FY
 
  
 
 
 
 
—
 
 
 
 
  
 
 
 
 
57,903
 
 
 
  
 
 
 
 
(13,816
 
 
) 
 
  
 
 
 
 
53,208
 
 
 
  
 
 
 
 
3,350
 
 
 
 
Service cost for defined benefit and actuarial pension plans
 
  
 
 
 
 
37,750
 
 
 
 
  
 
 
 
 
9,429
 
 
 
  
 
 
 
 
13,500
 
 
 
 
  
 
 
 
 
23,250
 
 
 
  
 
 
 
 
19,800
 
 
 
 
Compensation Actually Paid
 
  
 
$
 
 
3,166,911
 
 
 
 
  
 
$
 
 
1,508,530
 
 
 
  
 
$
 
 
698,389
 
 
 
  
 
$
 
 
1,842,238
 
 
 
  
 
$
 
 
1,542,660
 
 
 
 
       
Compensation Actually Paid vs. Total Shareholder Return
Relationship Between Diebold Total Shareholder Return (“TSR”) and “Compensation Actually Paid”
For the post-emergence period beginning on August 14, 2023 (the first day our shares of common stock were listed for trading on the NYSE) through December 31, 2024, our TSR increased from $100.00 to $209.24. Because we paid a significant portion of compensation in 2024 in the form of equity awards based on or tied to the Company’s stock price (such as emergence-related price-vested options and restricted stock units) the value of these awards increased over the course of 2024 consistent with our increase in TSR. For example, Mr. Marquez’s stock and option awards granted in 2024 increased in aggregate value from $6,962,252 on the date of grant (of each such grant) to $9,964,884 in the aggregate at the end of 2024. In addition, we use revenue, cash flow, and operating profit metrics in our incentive plans, each of which may indirectly impact our stock price. Accordingly, as the Company’s stock price increases (and TSR likewise increases), the value of a named executive officer’s Compensation Actually Paid will generally increase. Similarly, as the Company’s stock price decreases, Compensation Actually Paid will generally decrease.
       
Compensation Actually Paid vs. Net Income
Relationship Between Net Income and “Compensation Actually Paid”
The Company does not directly employ net income as a financial performance measure upon which named executive officer compensation may be earned. However, net income movements are tracked through our use of
Non-GAAP
OP / EBITDA metrics in our annual incentive plan. In future years as performance cash awards are earned, “Compensation Actually Paid” will also be influenced by performance against cumulative Adjusted EBITDA. “Compensation Actually Paid” therefore includes the value of: (a) bonuses earned in 2020 (a payout of 71% of the target annual bonus for named executive officers resulting solely from achievement against
Non-GAAP
OP); (b) bonuses earned in 2021 (a payout of approximately 61% of the target annual bonus for named executive officers in 2021, approximately half of which was attributed to
Non-GAAP
OP achievement); (c) no payments under the 2022 annual incentive plan or long-term performance incentives that could have vested in 2021 or 2022; (d) bonuses earned for 2023 (a payout of approximately 75% of the target annual bonus for the CEO and approximately 83% of the target annual bonus for the other Named Executive Officers, approximately half of which was attributable to
Non-GAAP
OP achievement); and (e) bonuses earned in 2024 (a payout of 100.22% of the target annual bonus for named executive officers resulting approximately 44% of which was attributed to
Non-GAAP
OP achievement).
       
Compensation Actually Paid vs. Company Selected Measure
Relationship Between
Non-GAAP
OP and “Compensation Actually Paid”
Non-GAAP
OP (as defined under the heading “
Compensation Discussion and Analysis—Definitions of Key Compensation Terms
” above) has served as a critical financial performance measure upon which annual incentive plan bonuses have been able to be earned since 2020. As noted above, in 2023
Non-GAAP
OP was also employed as a metric for the first year of our 2023 performance cash awards. Accordingly, “Compensation Actually Paid” reflects: (a) bonuses earned in 2020 (a payout of 71% of the target annual bonus for named executive officers resulting solely from achievement against
Non-GAAP
OP); (b) bonuses earned in 2021 (a payout of approximately 61% of the target annual bonus for named executive officers in 2021, approximately half of which was attributed to
Non-GAAP
OP achievement); (c) no payments under the 2022 annual incentive plan or long-term performance incentives that could have vested in 2021 or 2022; (d) bonuses earned for 2023 (a payout of approximately 75% of the target annual bonus for the CEO and approximately 83% of the target annual bonus for the other Named Executive Officers, approximately half of which was attributable to
Non-GAAP
OP achievement); and (e) bonuses earned in 2024 (a payout of 100.22% of the target annual bonus for named executive officers resulting approximately 44% of which was attributed to
Non-GAAP
OP achievement).
       
Total Shareholder Return Vs Peer Group
Comparison Between Diebold TSR and Peer Group TSR
For the post-emergence period beginning on August 14, 2023 (the first day our shares of common stock were listed for trading on the NYSE upon emerging from restructuring) through December 31, 2024, the Company’s TSR has increased by approximately 109%, while the TSR of the S&P 400 Midcap Index has increased by approximately 17% over the same period. Relative performance measured against the S&P 400 Midcap Index has, from time to time, been included as a performance measure for certain of the Company’s long-term incentive vehicles, most recently performance-based grants covering a performance period from 2018-2020. Because the Company’s relative TSR performance for that grant cycle did not meet threshold performance against the S&P 400 Midcap Index, these grants were forfeited thus reducing the “Compensation Actually Paid” to named executive officers in 2020.
       
Tabular List, Table
MOST IMPORTANT FINANCIAL MEASURES
The below tabular list identifies the financial measures deemed by the People and Compensation Committee to be the most important financial measures for linking the compensation of the Company’s named executive officers to the performance of the Company:
 
 
MOST IMPORTANT FINANCIAL MEASURES
Consolidated
Non-GAAP
Operating Profit
Unlevered Free Cash Flow
Constant Currency Revenue
Consolidated Adjusted EBITDA
Consolidated Revenue
       
Total Shareholder Return Amount $ 209.24 134.65      
Peer Group Total Shareholder Return Amount 117.12 105.81      
Net Income (Loss) $ (16,500,000) $ 1,376,100,000 $ (581,400,000) $ (78,800,000) $ (269,100,000)
Company Selected Measure Amount 305,300,000 344,400,000 197,500,000 332,700,000 335,400,000
Measure:: 1          
Pay vs Performance Disclosure          
Name Consolidated Non-GAAP Operating Profit        
Non-GAAP Measure Description
(5)
For Fiscal Year 2023, Net Income (Loss) and
Non-GAAP
OP are comprised of (a) the period from January 1, 2023 through August 11, 2023, the period prior to when the Company emerged from bankruptcy, and (b) the period from August 12, 2023 through December 31, 2023, the period subsequent to when the Company emerged from bankruptcy. These two periods have been combined solely to meet the
SEC-defined
structure for this Pay Versus Performance table, however, in accordance with GAAP, the Company does not combine these two periods in any of its financial statements and/or related filings. For the period from January 1, 2023 through August 11, 2023, Net Income was $1,357,500,000 and
Non-GAAP
OP (Loss) was ($5,500,000). For the period from August 12, 2023 through December 31, 2023, Net Income was $19,100,000 and
Non-GAAP
OP was $92,400,000.
 
 
    
(6)
The amount reported for
Non-GAAP
OP in this table
includes
the amortization of fair valued assets recognized in connection with Fresh Start Accounting. Accordingly, the
Non-GAAP
OP reported in this table is consistent with
Non-GAAP
OP as reported in the Company’s earnings release for its 2024 fiscal fourth quarter dated February 12, 2025. The Committee determined that
Non-GAAP
OP was the most important financial performance metric used to link Company performance to Compensation Actually Paid to our PEO and
Non-PEO
NEOs for 2024. More information about
Non-GAAP
OP can be found under the heading “
Definitions of Key Compensation Terms
” in the “
Compensation Discussion and Analysis
.” This performance measure may not have been the most important financial performance measure for years 2023, 2022, 2021 or 2020 and we may determine a different financial performance measure to be the most important financial performance measure in future years.
       
Measure:: 2          
Pay vs Performance Disclosure          
Name Unlevered Free Cash Flow        
Measure:: 3          
Pay vs Performance Disclosure          
Name Constant Currency Revenue        
Measure:: 4          
Pay vs Performance Disclosure          
Name Consolidated Adjusted EBITDA        
Measure:: 5          
Pay vs Performance Disclosure          
Name Consolidated Revenue        
Mr. Marquez [Member]          
Pay vs Performance Disclosure          
PEO Total Compensation Amount $ 9,526,709 $ 2,248,413 $ 5,660,334    
PEO Actually Paid Compensation Amount $ 12,537,384 1,562,882 1,604,309    
PEO Name Mr. Marquez        
Mr. Schmid [Member]          
Pay vs Performance Disclosure          
PEO Total Compensation Amount     4,291,389 $ 26,169,529 $ 5,312,150
PEO Actually Paid Compensation Amount     (9,050,186) 16,042,728 4,760,010
PEO Name Mr. Schmid        
PEO | Mr. Marquez [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 9,964,884   847,257    
PEO | Mr. Marquez [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount     (544,491)    
PEO | Mr. Marquez [Member] | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount   (845,044)      
PEO | Mr. Marquez [Member] | SCT Stock Awards [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (4,219,371)   (4,343,685)    
PEO | Mr. Marquez [Member] | SCT Option Awards [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (2,734,838)        
PEO | Mr. Marquez [Member] | Change In Fair Value Of Awards Granted In Prior Years That Met Vesting Conditions During FY [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount   159,513 (15,106)    
PEO | Mr. Schmid [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount       13,434,625 2,277,665
PEO | Mr. Schmid [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount       208,654 281,159
PEO | Mr. Schmid [Member] | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount     (13,246,648) (2,256,669)  
PEO | Mr. Schmid [Member] | SCT Stock Awards [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount       (22,104,207) (1,629,598)
PEO | Mr. Schmid [Member] | SCT Option Awards [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount         (1,543,755)
PEO | Mr. Schmid [Member] | Change In Fair Value Of Awards Granted In Prior Years That Met Vesting Conditions During FY [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount     (94,927) 590,795 62,389
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 1,740,458   101,343 612,789 397,084
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount     (303,296) 23,320 26,218
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount     8,660    
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (212,990) (222,148) (201,203) (251,068) (147,782)
Non-PEO NEO | SCT Stock Awards [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (949,680)   (1,621,070) (2,178,772) (301,225)
Non-PEO NEO | SCT Option Awards [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (777,729)       (71,341)
Non-PEO NEO | SCT Change in Pension value and Non-Qualified Deferred Compensation Earnings [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (36,842) (19,947) (894) (26,736) (31,535)
Non-PEO NEO | Change In Fair Value Of Awards Granted In Prior Years That Met Vesting Conditions During FY [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount   57,903 (13,816) 53,208 3,350
Non-PEO NEO | Service Cost for Defined Benefit and Actuarial Pension Plans [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 37,750 $ 9,429 $ 13,500 $ 23,250 $ 19,800
v3.25.0.1
Award Timing Disclosure
 12 Months Ended
Dec. 31, 2024
Award Timing Disclosures [Line Items]  
Award Timing MNPI Disclosure
EXECUTIVE STOCK OWNERSHIP GUIDELINES
The Committee believes that significant ownership and retention of stock by our executives is important to the Company as it helps ensure executives will more effectively pursue the long-term goals of the Company and the long-term interests of stockholders. In August 2024, the Committee adopted stock ownership guidelines for its executives, which provide that the CEO and members of the executive leadership team (including the NEOs) must maintain stock ownership equal in value to five times (5x) and three times (3x), respectively, of their annual base salaries. Only vested and unvested restricted stock units and shares of Company common stock owned outright are counted toward achievement of the guidelines. Executives are required to hold 50% of the net
after-tax
shares received upon the vesting of awards or the exercise of options until they have complied with the ownership requirements set above.
EQUITY AWARD GRANT PRACTICES
The Committee does not take material nonpublic information into account when determining the timing or terms of equity award grants, and the Company does not time the disclosure of material nonpublic information for the purposes of affecting the value of executive compensation. 2024 grants were made immediately upon approval by the Committee (in the case of emergence-related grants), on March 1, 2024 and March 7, 2024 (in the case of Mr. Marquez), or in the case of Mr. Timko, upon his hire on May 17, 2024. The Committee has determined that in future years, all annual compensation grants will be made on March 1 of the year of grant.
Award Timing Method 2024 grants were made immediately upon approval by the Committee (in the case of emergence-related grants), on March 1, 2024 and March 7, 2024 (in the case of Mr. Marquez), or in the case of Mr. Timko, upon his hire on May 17, 2024. The Committee has determined that in future years, all annual compensation grants will be made on March 1 of the year of grant.
Award Timing MNPI Considered false
MNPI Disclosure Timed for Compensation Value false
v3.25.0.1
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted false
Insider Trading Policies and Procedures Not Adopted Under our Insider Trading Policy, each employee, officer and director of the Company is prohibited from buying or selling our securities when he or she is aware of material,
non-public
information about the Company, or information about other public companies which he or she learns as our employee or director. These individuals are also prohibited from providing such information to others. In addition, this policy prohibits employees, officers and directors from pledging Diebold Nixdorf shares, engaging in short sales of Diebold Nixdorf shares, and from buying or selling any derivative securities related to Diebold Nixdorf shares. We believe our Insider Trading Policy is reasonably designed to promote compliance with insider trading laws, rules and regulations, and any applicable listing standards. Our Insider Trading Policy can be found attached as Exhibit 19.1 to our Annual Report on Form
10-K
for the year ended December 31, 2024.