Pitney Bowes CEO exercises 10,461 RSU shares

Pitney Bowes President & CEO Kurt James Wolf reported routine equity compensation activity involving Restricted Stock Units.

Rhea-AI Filing Summary

Pitney Bowes President & CEO Kurt James Wolf reported routine equity compensation activity involving Restricted Stock Units. On May 1, 2026, 10,461 Restricted Stock Units converted into an equal number of Pitney Bowes common shares at a stated price of $0.00 per share, reflecting vesting of a prior grant.

Following this exercise, Wolf directly holds 64,695 shares of Pitney Bowes common stock. The filing also lists indirect holdings of 539,618 shares in separately managed accounts and 7,415,979 shares held by Hestia Capital Partners, LP. According to the disclosure, Wolf is managing member of entities associated with these positions and may be deemed a beneficial owner, but he disclaims beneficial ownership except to the extent of his pecuniary interest.

Insider Trade Summary

10,461 shares exercised/converted

Exercise 4 txns

Insider Wolf Kurt James

Role President & CEO

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Unit	10,461	$0.00	$0.00
Exercise	Common Stock	10,461	$0.00	$0.00
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Restricted Stock Unit — 0 contracts (Direct); Common Stock — 64,695 shares (Direct); Common Stock — 7,415,979 shares (Indirect, By Hestia Capital Partners, LP); Common Stock — 539,618 shares (Indirect, By Separately Managed Accounts)

Footnotes (3)

1. F1. 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.
2. F2. Each unit represents a contingent right to receive one share of Pitney Bowes common stock.
3. F3. The Restricted Stock Units granted to non-employee directors on May 13, 2025 cliff vested according to schedule on May 1, 2026.

Key Figures

RSU shares converted: 10,461 shares Exercise price: $0.00 per share Direct common shares after transaction: 64,695 shares +3 more

6 metrics

RSU shares converted 10,461 shares Restricted Stock Units converting to common stock on May 1, 2026

Exercise price $0.00 per share Stated price for RSU conversion to common stock

Direct common shares after transaction 64,695 shares Total direct Pitney Bowes shares held by Kurt James Wolf after conversion

Indirect SMA holdings 539,618 shares Pitney Bowes common shares held by separately managed accounts

Indirect Hestia Capital holdings 7,415,979 shares Pitney Bowes common shares held by Hestia Capital Partners, LP

Derivative exercises 1 transaction, 10,461 shares Summary of derivative exercises in this Form 4

Key Terms

Restricted Stock Unit, beneficial owner, pecuniary interest, separately managed accounts

4 terms

Restricted Stock Unit financial

"The Restricted Stock Units granted to non-employee directors on May 13, 2025 cliff vested according to schedule on May 1, 2026."

A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.

beneficial owner financial

"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.

pecuniary interest financial

"The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein."

separately managed accounts financial

"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.

FAQ

What insider transaction did Pitney Bowes (PBI) CEO Kurt James Wolf report?

Kurt James Wolf reported the vesting and conversion of 10,461 Restricted Stock Units into Pitney Bowes common shares at a stated price of $0.00 per share. This reflects routine equity compensation, rather than an open-market stock purchase or sale.

How many Pitney Bowes shares does CEO Kurt James Wolf hold directly after this Form 4?

After the RSU conversion, Kurt James Wolf directly holds 64,695 Pitney Bowes common shares. This figure represents his direct ownership reported in the filing and excludes additional indirect holdings held through separately managed accounts and Hestia Capital Partners, LP.

What indirect Pitney Bowes (PBI) holdings are associated with Kurt James Wolf?

The filing lists 539,618 Pitney Bowes shares held in separately managed accounts and 7,415,979 shares held by Hestia Capital Partners, LP. Wolf is managing member of related entities and may be deemed a beneficial owner, but disclaims ownership beyond his pecuniary interest.

Did the Pitney Bowes CEO buy or sell shares in the open market in this Form 4?

No open-market purchases or sales are reported. The Form 4 shows a derivative exercise of 10,461 Restricted Stock Units into common shares and updates on indirect holdings, without any transactions coded as open-market buys or sells.

What are the key details of the Restricted Stock Units reported by Pitney Bowes (PBI)?

Each Restricted Stock Unit represents a contingent right to receive one Pitney Bowes common share. Units granted to non-employee directors on May 13, 2025, cliff vested on May 1, 2026, resulting in the conversion of 10,461 units into an equal number of common shares.

How does the Form 4 describe Kurt James Wolf’s beneficial ownership of Hestia-related Pitney Bowes shares?

Wolf is managing member of entities connected to Hestia Capital Partners, LP and certain separately managed accounts. The filing states he may be deemed a beneficial owner of their Pitney Bowes shares but disclaims beneficial ownership except for his pecuniary interest.

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Accepted by SEC EDGAR 05/04/2026 - 05:05 PM Learn about SEC filing dates

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)

27 WATERVIEW DRIVE

(Street)

SHELTON CONNECTICUT 06484

(City) (State) (Zip)

UNITED STATES

(Country)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	05/01/2026		M		10,461	A	$0.00	64,695	D
Common Stock								7,415,979	I	By Hestia Capital Partners, LP(1)
Common Stock								539,618	I	By Separately Managed Accounts(1)

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	(2)	05/01/2026		M			10,461	(3)	(3)	Common Stock	10,461	$0.00	0.00	D

Explanation of Responses:

1. 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.

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

3. The Restricted Stock Units granted to non-employee directors on May 13, 2025 cliff vested according to schedule on May 1, 2026.

Remarks:

	/s/ Elisabeth Weinberg, as attorney-in-fact for Kurt James Wolf	05/04/2026
	** 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.
* Form 4: SEC 1474 (03-26)