[Form 4] PITNEY BOWES INC /DE/ Insider Trading Activity

Rhea-AI Filing Summary

Pitney Bowes Inc. (PBI) President & CEO and Director Kurt James Wolf reported equity transactions in company stock. On 11/21/2025, he acquired 26,008 shares of common stock at $0.00 through the vesting and settlement of restricted stock units, and disposed of 8,170 shares at $9.67, indicated as an "F" code transaction typically used for tax-related share withholding. After these transactions, he held 53,466 common shares directly. He is also reported as having indirect beneficial ownership of 7,871,168 shares through Hestia Capital Partners, LP and 584,637 shares through separately managed accounts, reflecting his role as managing member of the entities that control those holdings. Each restricted stock unit represents a contingent right to receive one share of Pitney Bowes common stock.

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
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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)
11/21/2025

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	11/21/2025		M		26,008	A	$0.00	61,636	D
Common Stock	11/21/2025		F		8,170	D	$9.67	53,466	D
Common Stock								7,871,168	I	By Hestia Capital Partners, LP(1)
Common Stock								584,637	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)	11/21/2025		M			26,008	(3)	(3)	Common Stock	26,008	$0.00	10,461	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. Restricted Stock Units granted on November 21, 2024 have a one year cliff vesting.

Remarks:

	/s/ Elisabeth Weinberg, as attorney-in-fact for Kurt James Wolf	11/24/2025
	** 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.

FAQ

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

The filing reports that Kurt James Wolf, President & CEO and Director of Pitney Bowes (PBI), acquired 26,008 shares of common stock via restricted stock units and disposed of 8,170 shares in a separate transaction on 11/21/2025.

How many Pitney Bowes (PBI) shares does Kurt James Wolf own directly after this Form 4?

Following the reported transactions, Kurt James Wolf directly beneficially owns 53,466 shares of Pitney Bowes common stock.

What indirect holdings in Pitney Bowes (PBI) are attributed to Kurt James Wolf?

The filing attributes indirect beneficial ownership of 7,871,168 shares of Pitney Bowes common stock through Hestia Capital Partners, LP and 584,637 shares through separately managed accounts, based on his role as managing member of the relevant entities.

What price was used in the Pitney Bowes (PBI) tax-related share disposition?

The disposition coded "F" shows 8,170 shares of Pitney Bowes common stock disposed of at a price of $9.67 per share.

What was the size and nature of the Pitney Bowes (PBI) restricted stock unit transaction?

The derivative table shows 26,008 restricted stock units converting into 26,008 shares of Pitney Bowes common stock at an exercise price of $0.00, reflecting the vesting of equity compensation.

How are Pitney Bowes (PBI) restricted stock units defined in this Form 4?

The filing explains that each restricted stock unit represents a contingent right to receive one share of Pitney Bowes common stock, with units referenced here granted on November 21, 2024 and featuring a one-year cliff vesting.

What roles does Kurt James Wolf hold at Pitney Bowes (PBI)?

The Form 4 identifies Kurt James Wolf as both a Director and an Officer of Pitney Bowes, specifically serving as President & CEO.