Business Context and Reporting Period
This Form 8-K Current Report was filed by Diebold, Incorporated on April 20, 2012, covering events that occurred on April 18, 2012. The filing addresses Item 5.02 regarding the departure of a senior officer and the appointment of a successor.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and does not contain financial performance data.
Material Changes
The primary material change reported is a leadership transition within the finance and accounting organization:
- Departure: Leslie Pierce retired as Vice President and Corporate Controller on April 18, 2012, after joining the company in 1990.
- Appointment: Christopher Macey was promoted to Vice President and Corporate Controller on April 18, 2012, to serve as the company's principal accounting officer.
Management Commentary and Compensation
Management highlighted Mr. Macey's background, noting his 13-year tenure at PricewaterhouseCoopers (PwC) and his role as a Certified Public Accountant. In connection with his appointment, the following compensation terms were disclosed:
- Base Salary: $210,000 annually.
- Incentives: Eligible for the Annual Cash Bonus Plan and the Amended and Restated 1991 Equity and Performance Incentive Plan.
- Benefits: Eligible to defer compensation under the Deferred Incentive Compensation Plan and participate in the 401(k) plan.
The filing states there are no undisclosed arrangements or transactions requiring disclosure under Item 404(a) of Regulation S-K.
Investor Verification Checklist
- Verify the effective date of the leadership transition (April 18, 2012).
- Confirm Christopher Macey's new annual base salary of $210,000.
- Review the company's subsequent 10-Q or 10-K filings for any impact on financial reporting continuity following the controller change.