CEO-linked funds at Pitney Bowes (NYSE: PBI) sell 522,141 shares under 10b5-1 plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Pitney Bowes President & CEO Kurt James Wolf, through investment entities he manages, reported open-market sales totaling 522,141 shares of Pitney Bowes common stock between July 2 and July 7, 2026. Reported sale prices ranged from about $16.65 to $17.36 per share, with Form 4 line items showing weighted-average prices of $16.826, $16.915, and $17.104.
The transactions were executed indirectly by Hestia Capital Partners, LP and certain separately managed accounts, not by Wolf personally. After these sales, the Form 4 shows indirect holdings of 2,663,349 shares via Hestia Capital Partners, LP and 217,930 shares via separately managed accounts, plus 1,132,581 shares held directly as of July 2, 2026.
The filing states that these broker-assisted sales were carried out under a Rule 10b5-1 trading plan adopted by Wolf on November 10, 2025, and that he may be deemed the beneficial owner of the securities held by Hestia Capital Partners and the separately managed accounts but disclaims beneficial ownership except to the extent of his pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 522,141 shares ($8,878,442)
Net Sell
7 txns
Insider
Wolf Kurt James
Role
President & CEO
Sold
522,141 shs ($8.88M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 287,815 | $17.104 | $4.92M |
| Sale | Common Stock | 28,465 | $17.104 | $487K |
| Sale | Common Stock | 50,834 | $16.915 | $860K |
| Sale | Common Stock | 5,027 | $16.915 | $85K |
| Sale | Common Stock | 136,500 | $16.826 | $2.30M |
| Sale | Common Stock | 13,500 | $16.826 | $227K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 2,663,349 shares (Indirect, By Hestia Capital Partners, LP);
Common Stock — 1,132,581 shares (Direct, null)
Footnotes (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"). The price reported here is a weighted average price. This transaction was executed in multiple transactions at prices ranging from $16.65 to $16.99, 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. 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. The price reported here is a weighted average price. This transaction was executed in multiple transactions at prices ranging from $16.89 to $17.00, 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. The price reported here is a weighted average price. This transaction was executed in multiple transactions at prices ranging from $16.89 to $17.36, 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.
Key Figures
Total shares sold: 522,141 shares
Weighted-average sale price 7/2: $16.826 per share
Weighted-average sale price 7/6: $16.915 per share
+4 more
7 metrics
Total shares sold
522,141 shares
Net open-market sales July 2–7, 2026
Weighted-average sale price 7/2
$16.826 per share
Open-market sales on July 2, 2026
Weighted-average sale price 7/6
$16.915 per share
Open-market sales on July 6, 2026
Weighted-average sale price 7/7
$17.104 per share
Open-market sales on July 7, 2026
Indirect Hestia holdings
2,663,349 shares
Common stock held via Hestia Capital Partners, LP after 7/7 sales
Indirect SMA holdings
217,930 shares
Common stock held via separately managed accounts after 7/7 sales
Direct holdings
1,132,581 shares
Common stock held directly as of July 2, 2026
Key Terms
Rule 10b5-1 trading plan, weighted average price, beneficial owner, separately managed accounts, +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"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"
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
weighted average price financial
"The price reported here is a weighted average price. This transaction was executed in multiple transactions at prices ranging from $16.65 to $16.99"
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
beneficial owner regulatory
"the reporting person may be deemed the beneficial owner of the shares directly owned by Hestia Capital and shares held in the SMAs"
A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.
separately managed accounts financial
"Hestia LLC, the investment manager of Hestia Capital and certain separately managed accounts (the SMAs)"
A separately managed account is an investment portfolio owned by a single investor but professionally managed to that investor’s specific goals and preferences, rather than pooled with other clients’ money. It matters to investors because it offers greater customization, tax control and transparency—like hiring a personal chef instead of eating from a shared buffet—though it often requires higher minimums and can have different fee and liquidity implications.
broker-assisted sales financial
"The stock option exercises and broker-assisted sales transactions reported were effected pursuant to a Rule 10b5-1 trading plan"
FAQ
What insider transactions did Kurt James Wolf report for Pitney Bowes (PBI)?
Kurt James Wolf reported indirect open-market sales totaling 522,141 Pitney Bowes shares between July 2 and July 7, 2026. The sales were executed by Hestia Capital Partners, LP and separately managed accounts associated with him, at weighted-average prices around the high-$16 to low-$17 range.
Was the Pitney Bowes (PBI) insider selling done under a Rule 10b5-1 plan?
Yes. A footnote explains the broker-assisted sales were executed under a Rule 10b5-1 trading plan adopted by Kurt James Wolf on November 10, 2025. Such plans pre-schedule trades, helping separate routine liquidity transactions from discretionary market-timing decisions.
What does the Pitney Bowes (PBI) Form 4 say about Kurt James Wolf’s beneficial ownership?
The filing states that, as managing member of entities overseeing Hestia Capital Partners and certain separately managed accounts, Wolf may be deemed the beneficial owner of those shares. However, he disclaims beneficial ownership except to the extent of his pecuniary interest in the securities.