secwatch.observer — SEC 8-K summary
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Issuer:     DIEBOLD NIXDORF, Inc (DBD)
CIK:        0000028823
Form:       8-K
Filed at:   2022-02-10T23:59:59+00:00
Accession:  0000028823-22-000038
Event type: leadership
Sentiment:  neutral
Materiality: 0.70
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Diebold Nixdorf names Octavio Marquez CEO, replacing Gerrard Schmid effective March 11, 2022
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- Gerrard Schmid steps down as President and CEO on March 11, 2022; to remain on board until 2022 annual meeting and serve as advisor through June 11.
- Octavio Marquez, EVP of Global Banking covering 70% of revenue, appointed President and CEO and to the board.
- Marquez receives base salary of $850,000, cash incentive target of $1.02 million (120% of base), and $5 million long-term grant.
- Schmid receives separation payment of $4 million payable in three equal installments by September 2022.
- Schmid's outstanding equity awards stay eligible to vest during advisory period until board term expires.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/28823/000002882322000038/0000028823-22-000038-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/28823/000002882322000038/dbd-20220206.htm
  HTML page:      https://secwatch.observer/filing/0000028823-22-000038

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer