[Form 4] DIEBOLD NIXDORF, Inc Insider Trading Activity

Rhea-AI Filing Summary

Millstreet Capital Management LLC and two principals filed a Form 4 disclosing an insider sale of Diebold Nixdorf common stock. On 09/18/2025 the reporting group sold 38,963 shares at a price of $60.0811 per share. After the transaction the group beneficially owned 5,968,398 shares on an indirect basis. The filing is a joint submission by Millstreet and two managing members, Brian D. Connolly and Craig Kelleher, who state Millstreet advises accounts that hold the reported shares and disclaim direct beneficial ownership except to the extent of their pecuniary interest. The Form shows no derivative positions disclosed.

Positive

• Form 4 discloses the transaction clearly: sale of 38,963 shares at $60.0811 on 09/18/2025
• Substantial retained indirect holdings: 5,968,398 shares remain beneficially owned after the sale
• Filing includes clear disclosure of reporting structure: Millstreet as adviser and named managing members with disclaimers

Negative

• None.

Insights

Securities Analyst

TL;DR: Joint Form 4 reports a routine insider sale of 38,963 Diebold Nixdorf shares; large indirect holdings remain.

The filing documents an open-market or permitted disposition (transaction code S) of 38,963 shares at $60.0811 on September 18, 2025. Post-sale indirect beneficial ownership remains substantial at 5,968,398 shares, indicating the reporting persons and advised accounts retain material exposure to the issuer. The statement clarifies the reporting structure: Millstreet as adviser and Messrs. Connolly and Kelleher as managing members, with standard disclaimers of direct ownership except for pecuniary interest. No derivatives are reported on this Form 4.

Corporate Governance Expert

TL;DR: Filing shows transparent disclosure by adviser and principals consistent with Section 16 obligations.

The joint filing and signed attestation from the managing members meet Section 16 reporting requirements, providing investors clear records of insider activity. The explanatory footnote appropriately clarifies indirect ownership through advisory accounts and includes standard disclaimers. Signatures dated September 22, 2025 complete the procedural compliance. No amendments or derivative transactions are indicated on this submission.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

X

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

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Millstreet Capital Management LLC

(Last) (First) (Middle)

545 BOYLSTON STREET, 8TH FLOOR

(Street)

BOSTON MA 02116

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
DIEBOLD NIXDORF, Inc [ DBD ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/18/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

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	09/18/2025		S		38,963	D	$60.0811	5,968,398	I	See Footnote(1)

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 Securities Underlying Derivative Security (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: 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

1. Name and Address of Reporting Person^*

Millstreet Capital Management LLC

(Last) (First) (Middle)

545 BOYLSTON STREET, 8TH FLOOR

(Street)

BOSTON MA 02116

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Connolly Brian D

(Last) (First) (Middle)

545 BOYLSTON STREET, 8TH FLOOR

(Street)

BOSTON MA 02116

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Kelleher Craig

(Last) (First) (Middle)

545 BOYLSTON STREET 8TH FLOOR

(Street)

BOSTON MA 02116

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. Millstreet Capital Management LLC ("Millstreet") provides investment advisory services to private investment funds and accounts ("Accounts") and, in such capacity, may be deemed to beneficially own shares of Common Stock held for the accounts of such Accounts. Mr. Connolly and Mr. Kelleher are Managing Members of Millstreet. Each of the Reporting Persons disclaims beneficial ownership of the shares reported herein except to the extent of its or his pecuniary interest therein, and the filing of this Form 4 shall not be construed as an admission that any of the Reporting Persons is the beneficial owner of any such shares for purposes of Section 16(a) of the Securities Exchange Act of 1934 or for any other purpose.

	MILLSTREET CAPITAL MANAGEMENT LLC By: /s/ Craig M. Kelleher, Managing Member	09/22/2025
	/s/ Brian D. Connolly	09/22/2025
	/s/ Craig M. Kelleher	09/22/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction was reported for DIEBOLD NIXDORF (DBD)?

The Form 4 reports a sale of 38,963 shares of common stock on 09/18/2025 at $60.0811 per share.

Who filed the Form 4 for DBD and what are their roles?

The filing was made by Millstreet Capital Management LLC and two managing members, Brian D. Connolly and Craig Kelleher, identified as directors and 10% owners.

How many Diebold Nixdorf shares were beneficially owned after the reported sale?

After the transaction the reporting persons beneficially owned 5,968,398 shares on an indirect basis.

Does the Form 4 report any derivative holdings or option transactions?

No. Table II for derivative securities contains no reported derivative transactions in this filing.

When was the Form 4 signed?

The Form 4 was signed by the reporting persons on 09/22/2025.