Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Diebold Nixdorf Inc    DBD

DIEBOLD NIXDORF INC (DBD)
Mes dernières consult.
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets
The feature you requested does not exist. However, we suggest the following feature:

DIEBOLD NIXDORF, INC : Change in Directors or Principal Officers, Financial Statements and Exhibits (form 8-K)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/21/2018 | 11:07pm CET

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

On February 21, 2018, Diebold Nixdorf, Incorporated (the "Company") announced that its Board of Directors had appointed Gerrard Schmid as the Company's President and Chief Executive Officer and also appointed him to the Board of Directors, both effective immediately. Mr. Schmid will become the Company's principal executive officer after the Company files its Annual Report on Form 10-K for the fiscal year ended December 31, 2017 with the Securities and Exchange Commission.

Mr. Schmid, age 49, served since 2012 as Chief Executive Officer and a director of D+H Corporation ("D+H"), a Canadian company that operates as a global payments and lending technology provider. D+H was publicly listed on the Toronto Stock Exchange until its merger with Misys in 2017. Additionally, Mr. Schmid served on the boards of directors of D+H USA Corporation from 2015 until 2017 and D&H India Ltd. from 2015 until 2017. Since 2017, Mr. Schmid has served as a member of the advisory boards of Difenda, a privately-held Canadian company specializing in cyber-security, and Ryzio, a privately-held Canadian company providing mental health services.

In connection with his election as the Company's President and Chief Executive Officer, on February 21, 2018, the Company and Mr. Schmid agreed to an offer letter (the "Offer Letter") pursuant to which Mr. Schmid will receive an annual base salary of at least $950,000 and will be eligible for annual incentive awards and long-term incentive plan awards as determined by the Company. For 2018, the Board set his initial annual cash incentive award target at $1,330,000, which represents 140% of his base salary. Any payout under this incentive award shall be determined by the Board based on the achievement of certain performance goals.

The Board also granted Mr. Schmid options, performance share units and restricted stock units as a material inducement to his hiring. Pursuant to the terms the CEO Inducement Award Agreement, dated February 21, 2018 (the "Award Agreement"), Mr. Schmid received (i) 192,049 options with an exercise price of $15.35 per share and which will vest in three equal installments on the first, second, and third anniversary of the grant date; (ii) 155,636 performance share units, which will be earned, if at all, based on the target level of achievement of established performance metrics during the three-year performance period from the grant date; and (iii) 108,945 restricted stock units, which will vest in three equal installments on the first, second, and third anniversaries of the grant date. This inducement award was approved by all of the Company's independent directors and was made outside of the terms of the Diebold Nixdorf, Incorporated 2017 Equity and Performance Incentive Plan, in reliance on the exemption under the NYSE Listed Company Manual Rule 303A.08. Once vested, equity grants will not be subject to forfeiture unless Mr. Schmid is terminated for certain activities constituting cause (as defined in the Award Agreement). In the event Mr. Schmid's employment is terminated by the Company without cause or he resigns for good reason (as defined in the Award Agreement) within three years after a change in control, he will be entitled to 100% accelerated vesting of all such outstanding equity interests, with performance awards earned at the greater of target or actual performance as of the date of termination.

--------------------------------------------------------------------------------

Mr. Schmid's severance benefits will be governed by the Company's current Senior Leadership Severance Plan (the "SLSP"), which provides coverage to executives who are involuntarily terminated without cause or who terminate their employment for good reason (as defined in the SLSP), in each case separate from a change-in-control and subject to a general release of claims and acknowledgement of the executive's confidentiality, non-competition and other applicable obligations. This policy generally provides for (1) a lump sum payment equal to two times base salary in effect on the date of termination and target bonus opportunity under the Company's Annual Cash Bonus Plan in the year of termination, (2) a lump sum pro-rata payment of the bonus under our Annual Cash Bonus Plan, based upon the time employed in the year of termination and actual full-year performance results, (3) continued participation in all of our employee health and welfare benefit plans for the shorter of (i) two years and (ii) the date Mr. Schmid receives equivalent coverage from a subsequent employer, (4) all outstanding unvested options immediately vest and generally remain exercisable for a period of twelve months (or the earlier scheduled expiration) following the date of termination, (5) all outstanding restricted stock units vest pro-rata based upon the time employed in the year of termination relative to the vesting period of the restricted stock units, (6) pro-rata performance-based share amounts based upon the time employed in the year of termination relative to the performance period, to the extent such awards are earned, payable when such awards are generally paid to others; and (7) professional outplacement services for up to two years. With respect to Mr. Schmid, "good reason" as defined in the SLSP shall also include a change in title, authority, duties or responsibilities or the assignment of any duties that are inconsistent with his position.

The Company also entered into a Change in Control Agreement, dated February 21, 2018 ("Change in Control Agreement") with Mr. Schmid consistent with the Company's existing program. Any benefits under the Change in Control Agreement are paid only following both (1) a change-in-control (as defined in the Change in Control Agreement) and (2) a termination of Mr. Schmid's employment without cause by the Company, or by him with good reason (as such terms are defined in the Change in Control Agreement) in the three-year period following a change-in-control. Under such circumstances, Mr. Schmid may be eligible for (i) a lump sum payment equal to two times base salary and target cash bonus, (ii) the acceleration of outstanding equity awards, (iii) payment of outstanding performance awards at the greater of target or actual performance, (iv) two years of continued participation in the Company's health and welfare benefit plans, and (v) a lump sum payment in an amount equal to the additional benefits Mr. Schmid would have accrued under each qualified or nonqualified pension, profit sharing, deferred compensation or supplemental plan for one additional year of service, provided he was fully vested prior to termination, including pro rata payment of his annual incentive award at the greater of target or actual performance.

There are no arrangements or undertakings between Mr. Schmid and any other persons pursuant to which he was selected to serve as the Company's President and Chief Executive Officer and as member of the Board, nor are there any family relationships between Mr. Schmid and any of the Company's directors or executive officers. Mr. Schmid has no material interest in any transactions, relationships or arrangements with the Company that would require disclosure under Item 404(a) of Regulation S-K promulgated under the Securities Exchange Act of 1934, as amended.

The foregoing descriptions of the Offer Letter, Award Agreement and Change in Control Agreement do not purport to be complete, and are qualified in their entirety by reference to the full text of the Offer Letter, Award Agreement and Change in Control Agreement, copies of which is filed as Exhibits 10.1, 10.2 and 10.3 hereto and are incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits.



Exhibit
Number       Description

10.1           Offer Letter, dated February 21, 2018, by and between Diebold
             Nixdorf, Incorporated and Gerrard Schmid.

10.2           CEO Inducement Award Agreement, dated February 21, 2018, by and
             between Diebold Nixdorf, Incorporated and Gerrard Schmid.

10.3           Change in Control Agreement, dated February 21, 2018, by and between
             Diebold Nixdorf, Incorporated and Gerrard Schmid.

99.1           Press release, dated February 21, 2018.

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on DIEBOLD NIXDORF INC
02/21DIEBOLD NIXDORF, INC : Change in Directors or Principal Officers, Financial Stat..
AQ
02/21DIEBOLD NIXDORF, INCORPORATED : Release according to Article 50 of the WpHG [the..
EQ
02/21DIEBOLD NIXDORF, INCORPORATED : Release according to Article 50 of the WpHG [the..
EQ
02/21DIEBOLD NIXDORF, INCORPORATED : Release according to Article 50 of the WpHG [the..
EQ
02/21DIEBOLD NIXDORF, INCORPORATED : Release according to Article 50 of the WpHG [the..
EQ
02/21DIEBOLD NIXDORF, INC : Other Events, Financial Statements and Exhibits (form 8-K..
AQ
02/20DIEBOLD NIXDORF : At EuroCIS, Diebold Nixdorf Presents Innovations for the Futur..
PU
02/18DIEBOLD NIXDORF, INCORPORATED : Notification and public disclosure of transactio..
EQ
02/18DIEBOLD NIXDORF, INCORPORATED : Notification and public disclosure of transactio..
EQ
02/18DIEBOLD NIXDORF, INCORPORATED : Notification and public disclosure of transactio..
EQ
More news
News from SeekingAlpha
02/21Diebold Nixdorf selects Schmid as new President/CEO 
02/13Diebold Nixdorf, Inc. 2017 Q4 - Results - Earnings Call Slides 
02/13Diebold Nixdorf's (DBD) Management on Q4 2017 Results - Earnings Call Transcr.. 
02/13Diebold Nixdorf beats by $0.05, beats on revenue 
02/12Notable earnings before Tuesday?s open 
Financials ($)
Sales 2018 4 621 M
EBIT 2018 246 M
Net income 2018 -55,2 M
Debt 2018 1 180 M
Yield 2018 2,64%
P/E ratio 2018 -
P/E ratio 2019 24,32
EV / Sales 2018 0,50x
EV / Sales 2019 0,45x
Capitalization 1 125 M
Chart DIEBOLD NIXDORF INC
Duration : Period :
Diebold Nixdorf Inc Technical Analysis Chart | DBD | US2536511031 | 4-Traders
Technical analysis trends DIEBOLD NIXDORF INC
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 21,6 $
Spread / Average Target 45%
EPS Revisions
Managers
NameTitle
Christopher A. Chapman Co-President, Co-Chief Executive Officer & CFO
Jürgen Wunram Co-President, Co-CEO, COO & Director
Gary G. Greenfield Non-Executive Chairman
Murat Ekinci Chief Information Officer
Henry D. G. Wallace Director
Sector and Competitors
1st jan.Capitalization (M$)
DIEBOLD NIXDORF INC-5.20%1 156
BOE TECHNOLOGY GROUP CO. LTD--.--%30 109
UNISPLENDOUR CORPORATION LIMITED--.--%9 357
ASUSTEK COMPUTER INC.--.--%6 864
AISINOCO. LTD-11.10%5 631
SYNNEX CORPORATION-13.20%4 821