Were Kurt Wolf’s recent Pitney Bowes (PBI) share sales made under a trading plan?

Yes. The Form 4 states that the stock sales were effected under a Rule 10b5-1 trading plan adopted by Kurt James Wolf on November 10, 2025. Such plans pre-schedule trades and can reduce the significance of transaction timing.

Pitney Bowes (NYSE: PBI) CEO-linked funds sell 150K shares under plan

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Pitney Bowes director and President & CEO Kurt James Wolf reported indirect open-market sales of a total of 150,000 shares of Common Stock on March 11, 2026 through entities associated with him. Hestia Capital Partners, LP sold 136,500 shares and certain separately managed accounts sold 13,500 shares.

The weighted average sale price was $10.377 per share, with individual trades executed between $10.235 and $10.58. After these transactions, Hestia Capital Partners, LP held 7,598,168 shares and the separately managed accounts held 557,637 shares, while Wolf also held 53,789 shares directly.

According to the disclosure, these sales were effected under a pre-arranged Rule 10b5-1 trading plan, indicating they were scheduled in advance rather than timed discretionarily.

Insider Trade Summary 10b5-1

Net Seller: 150,000 shares ($1,556,550)

Net Sell 3 txns

Insider Wolf Kurt James

Role President & CEO

Sold 150,000 shs ($1.56M)

Type	Security	Shares	Price	Value
Sale	Common Stock	136,500	$10.377	$1.42M
Sale	Common Stock	13,500	$10.377	$140K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 7,598,168 shares (Indirect, By Hestia Capital Partners, LP); Common Stock — 53,789 shares (Direct)

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. These shares were sold in multiple transactions at prices ranging from $10.235 to $10.58, 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 set forth herein. 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.

Form 4 Insider Transactions: What Each Field Means →

03/13/2026 - 09:31 AM

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

06484

(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)
03/11/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock								53,789	D
Common Stock	03/11/2026	03/11/2026	S⁽¹⁾		136,500	D	$10.377⁽²⁾	7,598,168	I	By Hestia Capital Partners, LP⁽³⁾
Common Stock	03/11/2026	03/11/2026	S⁽¹⁾		13,500	D	$10.377⁽²⁾	557,637	I	By Separately Managed Accounts⁽³⁾

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

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").

2. The price reported here is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.235 to $10.58, 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 set forth herein.

3. 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.

Remarks:

	/s/ Elisabeth Weinberg, as attorney-in-fact for Kurt James Wolf	03/12/2026
	** 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.

Source: View Original Filing on SEC EDGAR

FAQ

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

Pitney Bowes reported that entities associated with CEO Kurt James Wolf sold 150,000 shares of Common Stock on March 11, 2026. Hestia Capital Partners, LP sold 136,500 shares and separately managed accounts sold 13,500 shares in open-market transactions.

At what prices were the Pitney Bowes (PBI) shares sold in Kurt Wolf’s recent Form 4?

The reported weighted average sale price was $10.377 per Pitney Bowes share. Individual trades occurred across multiple transactions at prices ranging from $10.235 to $10.58, according to the Form 4 disclosure footnote.

How many Pitney Bowes (PBI) shares do entities linked to Kurt Wolf hold after these sales?

After the March 11, 2026 transactions, Hestia Capital Partners, LP held 7,598,168 Pitney Bowes shares and certain separately managed accounts held 557,637 shares. Kurt James Wolf also reported 53,789 shares held directly in his own name following these trades.

Do the Pitney Bowes (PBI) Form 4 footnotes address Kurt Wolf’s beneficial ownership?

Yes. The filing explains that Kurt James Wolf is managing member of entities tied to Hestia Capital and certain separately managed accounts and may be deemed a beneficial owner, while disclaiming beneficial ownership beyond his pecuniary interest.