FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * Pierce Leslie A   2. Issuer Name and Ticker or Trading Symbol DIEBOLD INC [DBD] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) VP&Corporate Controller (Last) (First) (Middle) C/O DIEBOLD, INCORPORATE, 5995 MAYFAIR ROAD 3. Date of Earliest Transaction (Month/Day/Year) 02/17/2012 (Street) NORTH CANTON, OH 44720 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock               261 I 401(k) (1) Common Stock               158 I ESPP (2) Common Stock 02/17/2012   M   5,000 A $ 25.53 14,725 (3) D   Common Stock 02/17/2012   M   5,250 A $ 24.79 19,975 (3) D   Common Stock 02/17/2012   M   4,000 A $ 27.88 23,975 (3) D   Common Stock 02/17/2012   S   12,776 A $ 38.5458 11,199 (3) D

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Non-qualified Stock Option

$ 36.31

02/05/2004

02/04/2013

Common Stock

600

600

D

Non-qualified Stock Option

$ 47.27

02/14/2008

02/13/2017

Common Stock

1,250

1,250

D

Non-qualified Stock Option

$ 25.53

02/17/2012

M

5,000

02/13/2009

02/12/2018

Common Stock

5,000

$ 25.53

0

D

Non-qualified Stock Option

$ 24.79

02/17/2012

M

5,250

02/11/2010

02/10/2019

Common Stock

5,250

$ 24.79

1,750

D

Non-qualified Stock Option

$ 27.88

02/17/2012

M

4,000

02/11/2011

02/10/2020

Common Stock

4,000

$ 27.88

4,000

D

Non-qualified Stock Option

$ 32.67

02/10/2012

02/09/2021

Common Stock

7,250

7,250

D

Non-qualified Stock Option

$ 34.89

02/08/2013

02/07/2022

Common Stock

7,250

7,250

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Pierce Leslie A C/O DIEBOLD, INCORPORATE 5995 MAYFAIR ROAD NORTH CANTON, OH 44720			VP&Corporate Controller

Signatures

Chad F. Hesse, Att'y.-in-fact for Leslie A. Pierce		02/21/2012
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Number of 401(k) shares owned as of most current statement; fractional shares omitted.
(2)	Includes shares acquired under the Diebold, Incorporated Employee Stock Purchase Plan.
(3)	Number includes restricted stock units.

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