[Form 4] PITNEY BOWES INC /DE/ Insider Trading Activity

Rhea-AI Filing Summary

Pitney Bowes (PBI) director Wayne Remell Walker received a grant of 5,601 restricted stock units (RSUs) on 09/22/2025. Each unit represents a contingent right to one share of common stock and the RSUs carry an exercise price of $0.00. The award is scheduled to cliff vest one year after the grant date, meaning the full 5,601 shares become payable on the first anniversary of 09/22/2025 if vesting conditions are met. The reported ownership following the grant is 5,601 shares on a direct basis. The Form 4 was filed as a single reporting person and signed by an attorney-in-fact on 09/24/2025.

Positive

• Director equity alignment: 5,601 RSUs awarded to a director, which ties compensation to shareholder outcomes
• Clear vesting: RSUs cliff vest one year after grant, supporting short-term retention

Negative

• None.

Insights

Financial Analyst

TL;DR: Routine director equity grant of 5,601 RSUs; modest and customary alignment of pay with shareholder value.

The award of 5,601 RSUs to a company director is a common component of non-employee director compensation designed to align interests with shareholders. The units convert one-for-one into common shares and cliff vest after one year, which supports retention over the short term. The grant price reported as $0.00 is consistent with restricted stock units that convert into shares rather than option purchases. This disclosure is specific and limited to the grant details; it does not include other holdings or broader compensation context.

Corporate Governance Expert

TL;DR: Governance-wise this appears routine: a time-based RSU grant to a director with one-year cliff vesting.

The filing documents a time-based equity award for a director, which is typical for board compensation practices. Cliff vesting after one year is a straightforward retention tool; the filing shows direct beneficial ownership of 5,601 shares following the grant. The Form 4 contains the necessary elements: grant date, number of units, vesting schedule, and reporting signature. There are no indications of acceleration, related-party transactions, or special terms disclosed in this form.

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

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

1. Name and Address of Reporting Person^*

WALKER WAYNE REMELL

(Last) (First) (Middle)

3001 SUMMER STREET

(Street)

STAMFORD CT 06926

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
PITNEY BOWES INC /DE/ [ PBI ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/22/2025

4. If Amendment, Date of 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

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

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
Restricted Stock Unit	(1)	09/22/2025		A		5,601		(2)	(2)	Common Stock	5,601	$0.00	5,601	D

Explanation of Responses:

1. Each unit represents a contingent right to receive one share of Pitney Bowes common stock.

2. The Restricted Stock Units granted September 22, 2025 are scheduled to cliff vest one year after the date of grant.

Remarks:

	/s/ Elisabeth Weinberg, attorney-in-fact for Wayne Remell Walker	09/24/2025
	** 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 did Wayne Remell Walker report on the Form 4 for PBI?

He reported a grant of 5,601 restricted stock units (RSUs) on 09/22/2025, representing rights to 5,601 shares.

When do the RSUs awarded to the PBI director vest?

The RSUs are scheduled to cliff vest one year after the 09/22/2025 grant date.

How many shares will Wayne Remell Walker beneficially own after the reported transaction?

The Form 4 reports 5,601 shares beneficially owned following the grant, held directly.

What is the reported price for the RSUs in the Form 4?

The price is reported as $0.00, consistent with restricted stock units that convert to shares.

Who signed the Form 4 filing for Wayne Remell Walker and when?

The Form 4 was signed by Elisabeth Weinberg, attorney-in-fact, on 09/24/2025.

Does the Form 4 indicate this filing was made jointly or by one reporting person?

The form indicates it was filed by one reporting person (single filer).