Pitney Bowes (NYSE: PBI) CEO gains 10,461 shares as RSUs vest
Filing Impact
Filing Sentiment
Form Type
4
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.
Positive
- None.
Negative
- None.
Insider Trade Summary
10,461 shares exercised/converted
Mixed
4 txns
Insider
Wolf Kurt James
Role
President & CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit | 10,461 | $0.00 | -- |
| Exercise | Common Stock | 10,461 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Unit — 0 shares (Direct, null);
Common Stock — 64,695 shares (Direct, null);
Common Stock — 7,415,979 shares (Indirect, By Hestia Capital Partners, LP)
Footnotes (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. Each unit represents a contingent right to receive one share of Pitney Bowes common stock. 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.
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.
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.