Pitney Bowes insider filing shows Helios liquidation, Hestia transfer

Rhea-AI Filing Summary

Pitney Bowes (PBI) insider filing: Director and President & CEO Kurt James Wolf reported internal fund-related movements dated 11/06/2025. Following the termination of Helios I, LP on October 31 and its asset liquidation effective November 6, Helios disposed of 6,369,877 Pitney Bowes shares, calculated at a $9.88 closing price. In connection with the liquidation, investors elected to apply balances to Hestia Capital Partners, LP, which acquired 3,060,251 shares, also calculated at $9.88.

Insights

Governance & Insider Transactions Analyst

Internal fund reallocation tied to Helios liquidation.

Kurt James Wolf reported transactions on November 6, 2025 classified as code J, reflecting non-market movements. Helios I, LP was terminated on October 31, 2025 with assets liquidated effective November 6, 2025.

The filing lists 6,369,877 shares disposed by Helios and 3,060,251 shares acquired by Hestia Capital Partners, LP, each calculated at a $9.88 closing price on October 31. The reporting person may be deemed a beneficial owner through management roles and disclaims beneficial ownership beyond pecuniary interest.

As a Form 4 reflecting internal reallocations, market impact depends on holder decisions and future activity; no execution timeline beyond the stated dates is included.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider Wolf Kurt James

Role President & CEO

Type	Security	Shares	Price	Value
Other	Common Stock	6,369,877	$9.88	$62.93M
Other	Common Stock	3,060,251	$9.88	$30.24M
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 0 shares (Indirect, By Helios I, LP); Common Stock — 35,628 shares (Direct)

Footnotes (1)

1. Helios I, LP (Helios) was terminated on October 31, 2025 and its assets liquidated effective November 6, 2025. The number of shares disposed of was calculated based on the closing price of Pitney Bowes common stock on October 31, 2025. In connection with the liquidation of Helios' assets, several investors in Helios elected to have their ending capital balance applied as a capital contribution to Hestia Capital Partners, LP. The number of shares acquired was calculated based on the closing price of Pitney Bowes common stock on October 31, 2025. The reporting person is the managing member of (a) Hestia Partners GP, the general partner of Hestia Capital Partners, LP (Hestia Capital) and Helios (prior to its termination), and (b) Hestia LLC, the investment manager of Hestia Capital, Helios (prior to its termination), 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, and was previously deemed the beneficial owner of the shares directly owned by Helios (prior to its termination). The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.

Form 4 Insider Transactions: What Each Field Means →

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).

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)

3001 SUMMER ST.

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

3. Date of Earliest Transaction (Month/Day/Year)
11/06/2025

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
Common Stock	11/06/2025		J(1)		6,369,877(1)	D	$9.88(1)	0.00	I	By Helios I, LP
Common Stock	11/06/2025		J(2)		3,060,251(2)	A	$9.88(2)	7,871,168	I	By Hestia Capital Partners, LP
Common Stock								584,637	I	By Separately Managed Accounts(3)
Common Stock								35,628	D

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. Helios I, LP (Helios) was terminated on October 31, 2025 and its assets liquidated effective November 6, 2025. The number of shares disposed of was calculated based on the closing price of Pitney Bowes common stock on October 31, 2025.

2. In connection with the liquidation of Helios' assets, several investors in Helios elected to have their ending capital balance applied as a capital contribution to Hestia Capital Partners, LP. The number of shares acquired was calculated based on the closing price of Pitney Bowes common stock on October 31, 2025.

3. The reporting person is the managing member of (a) Hestia Partners GP, the general partner of Hestia Capital Partners, LP (Hestia Capital) and Helios (prior to its termination), and (b) Hestia LLC, the investment manager of Hestia Capital, Helios (prior to its termination), 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, and was previously deemed the beneficial owner of the shares directly owned by Helios (prior to its termination). 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	11/07/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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