150K Pitney Bowes (NYSE: PBI) shares sold via CEO 10b5-1 plan

Rhea-AI Filing Summary

Pitney Bowes entities associated with President & CEO Kurt James Wolf sold 150,000 shares of common stock in open-market transactions at a weighted average price of $10.305 per share on February 23, 2026. These transactions were executed under a pre-established Rule 10b5-1 trading plan adopted on November 10, 2025 during an open trading window.

After these sales, Hestia Capital Partners, LP held 7,734,668 shares, separately managed accounts held 571,137 shares, and Wolf directly held 53,789 shares of Pitney Bowes common stock. The filing notes that Wolf may be deemed a beneficial owner of the indirectly held shares but disclaims beneficial ownership except to the extent of his pecuniary interest.

Insider Trade Summary

Net Seller: 150,000 shares

Net Sell 3 txns

Insider Wolf Kurt James

Role President & CEO

Sold 150,000 shs ($1.55M)

Type	Security	Shares	Price	Value
Sale	Common Stock	136,500	$10.305	$1.41M
Sale	Common Stock	13,500	$10.305	$139K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 7,734,668 shares (Indirect, By Hestia Capital Partners, LP); Common Stock — 571,137 shares (Indirect, By Separately Managed Accounts); Common Stock — 53,789 shares (Direct)

Footnotes (3)

1. F1. The stock option exercises and broker-assisted sales transactions reported were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 10, 2025 during the Company's open window period (the "Trading Plan").
2. F2. The price reported here is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.245 to $10.44, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.
3. F3. The reporting person is the managing member of (a) Hestia Partners GP, the general partner of Hestia Capital Partners, LP (Hestia Capital), and (b) Hestia LLC, the investment manager of Hestia Capital and certain separately managed accounts (the SMAs). As the managing member of each of Hestia Partners GP and Hestia LLC, the reporting person may be deemed the beneficial owner of the shares directly owned by Hestia Capital and shares held in the SMAs. The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 02/25/2026 - 12:35 PM Learn about SEC filing dates

FAQ

How many Pitney Bowes (PBI) shares were sold in this insider transaction?

Entities associated with Kurt James Wolf sold 150,000 Pitney Bowes shares. The sales occurred on February 23, 2026 in open-market transactions at a weighted average price of $10.305 per share under a pre-established Rule 10b5-1 trading plan.

What price did the CEO-linked entities receive for Pitney Bowes (PBI) shares?

The weighted average sale price was $10.305 per Pitney Bowes share. According to the disclosure, the shares were sold in multiple trades at prices ranging from $10.245 to $10.44, with the weighted average reported as $10.305 per share.

Were these Pitney Bowes (PBI) insider sales made under a Rule 10b5-1 plan?

Yes, the sales were executed under a Rule 10b5-1 trading plan. The plan was adopted by Kurt James Wolf on November 10, 2025 during the company’s open trading window, allowing pre-scheduled transactions independent of later market or company developments.

How many Pitney Bowes (PBI) shares does Hestia Capital hold after the transactions?

Hestia Capital Partners, LP held 7,734,668 Pitney Bowes shares after the sales. These shares are reported as indirectly owned, with Kurt James Wolf as managing member of related entities, and he may be deemed a beneficial owner to the extent of his pecuniary interest.

What are Kurt James Wolf’s direct Pitney Bowes (PBI) share holdings after these trades?

After the reported transactions, Kurt James Wolf directly held 53,789 Pitney Bowes shares. In addition to these direct holdings, he may be deemed to beneficially own shares held by Hestia Capital and certain separately managed accounts, subject to his pecuniary interest.

Were the Pitney Bowes (PBI) insider transactions direct or through related entities?

The reported sales were through entities associated with Kurt James Wolf. Shares were sold by Hestia Capital Partners, LP and certain separately managed accounts, which are managed by entities where Wolf is the managing member, rather than from his personal direct holdings.

What price range did the Pitney Bowes (PBI) shares trade at in these insider sales?

The shares were sold between $10.245 and $10.44 per share. The filing reports a weighted average sale price of $10.305 and notes that detailed trade-level pricing within this range is available upon request to the issuer or the SEC staff.

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

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

X

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^*

Wolf Kurt James

(Last) (First) (Middle)

27 WATERVIEW DRIVE

(Street)

SHELTON CT 06484

(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
X	Officer (give title below)		Other (specify below)
	President & CEO

3. Date of Earliest Transaction (Month/Day/Year)
02/23/2026

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
Common Stock								53,789	D
Common Stock	02/23/2026		S(1)		136,500	D	$10.305(2)	7,734,668	I	By Hestia Capital Partners, LP(3)
Common Stock	02/23/2026		S(1)		13,500	D	$10.305(2)	571,137	I	By Separately Managed Accounts(3)

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

Explanation of Responses:

1. The stock option exercises and broker-assisted sales transactions reported were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 10, 2025 during the Company's open window period (the "Trading Plan").

2. The price reported here is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.245 to $10.44, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.

3. The reporting person is the managing member of (a) Hestia Partners GP, the general partner of Hestia Capital Partners, LP (Hestia Capital), and (b) Hestia LLC, the investment manager of Hestia Capital and certain separately managed accounts (the SMAs). As the managing member of each of Hestia Partners GP and Hestia LLC, the reporting person may be deemed the beneficial owner of the shares directly owned by Hestia Capital and shares held in the SMAs. The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein

Remarks:

	/s/ Elisabeth Weinberg, as attorney-in-fact for Kurt James Wolf	02/24/2026
	** 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.