PBI files 8-K: $636K severance and $354K lump sum for departing EVP

Rhea-AI Filing Summary

Pitney Bowes Inc. reported that Executive Vice President and President, Sending Technology Solutions, Shemin Nurmohamed, ceased service effective end of business on September 11, 2025, and on September 25, 2025 entered into a Separation Agreement. Under the agreement Ms. Nurmohamed will receive a $636,000 cash Separation Amount $354,069 to be paid within 30 days after the Separation Date, with applicable taxes and withholdings. The agreement also preserves the vesting and exercisability of certain incentive awards that were granted before the Separation Date and outstanding for at least one year as of the Separation Date. The filing attaches the full Separation Agreement as Exhibit 10.1.

Positive

• Separation terms are specified in writing, with a referenced Exhibit 10.1 providing the full agreement.
• Certain incentive awards continue vesting and remain exercisable if they were outstanding for at least one year as of the Separation Date, preserving previously granted rights.

Negative

• Company will incur direct cash obligations totaling at least $990,069 in disclosed payments (separation amount plus lump sum), exclusive of taxes and other benefits.
• Filing does not disclose the accounting treatment, timing of any additional benefits, or whether any payments are contingent on other conditions.

Insights

Corporate Governance Expert

TL;DR: Separation includes a one-year salary equivalent severance and preservation of certain long-term incentive rights.

The Separation Agreement documents a structured exit for a senior executive with a $636,000 severance stream and a $354,069 lump sum, both subject to taxes and withholdings. The continuation of vesting and exercisability for eligible incentive awards is explicitly preserved, which maintains Ms. Nurmohamed's ability to realize certain previously granted compensation. The disclosure is standard for an executive departure and the filing incorporates the full agreement as Exhibit 10.1 for detailed terms.

Financial Analyst

TL;DR: The cash obligation totals at least $990,069 in stated payments, paid partly as payroll installments and partly as a lump sum.

From a financial perspective the company has committed to a defined cash outflow comprising a 52-week salary equivalent paid in installments ($636,000) plus a near-term lump sum of $354,069. The filing does not quantify broader benefit or tax withholdings impacts, nor does it disclose any acceleration or cash tax effects related to incentive award treatment; the full exhibit may provide additional detail. Based solely on the disclosed amounts, the immediate accounting or cash impact appears limited to the specified payments.

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

FORM 8-K

Current Report

Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934

September 25, 2025
Date of Report (Date of earliest event reported)

Pitney Bowes Inc.
(Exact name of registrant as specified in its charter)

Delaware			1-3579			06-0495050
(State or other jurisdiction of incorporation or organization)			(Commission file number)			(I.R.S. Employer Identification No.)

Address:

3001 Summer Street,

Stamford,

Connecticut

06926

Telephone Number:

(203)

356-5000

Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class

Trading Symbol(s)

Name of Each Exchange on Which Registered

Common Stock, $1 par value per share

PBI

New York Stock Exchange

6.70% Notes due 2043

PBI.PRB

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Securities Act. ☐

ITEM 5.02 DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF PRINCIPAL OFFICERS.

On September 25, 2025, Pitney Bowes Inc. (the “Company”) entered into a separation agreement (the “Separation Agreement”) with Shemin Nurmohamed in connection with her cessation of service as Executive Vice President and President, Sending Technology Solutions and departure from the Company, each effective as of end of business on September 11, 2025 (the “Separation Date”) as described in the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on September 12, 2025. Pursuant to the Separation Agreement, Ms. Nurmohamed is eligible to receive a cash payment equal to $636,000, less applicable taxes and withholdings, which amount represents fifty-two (52) weeks’ worth of Ms. Nurmohamed’s base salary as in effect immediately prior to the Separation Date (the “Separation Amount”). The Separation Amount will be paid in a stream of payments on regular paydays following the Separation Date at the base salary rate in effect immediately prior to the Separation Date. In addition to the Separation Amount, Ms. Nurmohamed is also entitled to a lump sum payment of $354,069, less applicable taxes and withholdings, to be paid within thirty days following the Separation Date, and other benefits. Additionally, under the terms of the Separation Agreement, certain of Ms. Nurmohamed’s incentive awards granted before the Separation Date that are outstanding for at least one year as of the Separation Date continue vesting and remain exercisable in accordance with their terms.

The foregoing description of the Separation Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Separation Agreement, which is attached hereto as Exhibit 10.1 and incorporated herein by reference.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits

10.1			Separation Agreement, dated as of September 25, 2025, between Pitney Bowes Inc. and Shemin Nurmohamed.
104			The cover page of Pitney Bowes Inc.'s Current Report on Form 8-K, formatted in Inline XBRL.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			Pitney Bowes Inc.
			By:			/s/ Lauren Freeman-Bosworth
			Name: Lauren Freeman-Bosworth
Date: September 26, 2025			Title: Executive Vice President, General Counsel and Corporate Secretary

FAQ

What severance payments did Pitney Bowes (PBI) agree to pay Shemin Nurmohamed?

The Separation Agreement provides a cash Separation Amount of $636,000 (52 weeks of base salary) paid on regular paydays, plus a lump sum of $354,069, both less applicable taxes and withholdings.

When did Shemin Nurmohamed's employment with Pitney Bowes end?

Her cessation of service and departure from the company were effective as of end of business on September 11, 2025.

Will Ms. Nurmohamed's equity or incentive awards be affected by the separation?

Yes. The agreement states certain incentive awards granted before the Separation Date that were outstanding for at least one year as of the Separation Date continue vesting and remain exercisable in accordance with their terms.

Where can I find the full terms of the Separation Agreement?

The full text of the Separation Agreement is attached to the filing as Exhibit 10.1 and is incorporated by reference in the 8-K.