Ownership Submission
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
OMB APPROVAL
OMB Number: 3235-0287
Expires: January 31, 2005
Estimated average burden hours per response... 0.5

(Print or Type Responses)
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  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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 control number. SEC 1474 (9-02)

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.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.