Form 4: Pitney Bowes CEO Kurt Wolf Reports Vesting of Restricted Stock Units and Related Share Disposition

Pitney Bowes President & CEO Kurt James Wolf reported the vesting of 23,810 restricted stock units and the subsequent disposition of 7,434 shares for tax purposes on May 27, 2025.

Summary

• Kurt James Wolf, President & CEO and Director of Pitney Bowes Inc. (PBI), reported transactions on May 27, 2025, as detailed in this SEC Form 4 filing.
• He acquired 23,810 shares of common stock upon the vesting of Restricted Stock Units (RSUs) at a price of $0.00.
• Concurrently, he disposed of 7,434 shares of common stock at a price of $10.265 per share to cover tax obligations related to the RSU vesting.
• Following these transactions, Mr. Wolf directly holds 35,280 shares of common stock.
• He also maintains significant indirect beneficial ownership, including 4,810,917 shares through Hestia Capital Partners, LP, 8,309,492 shares through Helios I, LP, and 584,636 shares through Separately Managed Accounts, while disclaiming beneficial ownership except for his pecuniary interest.
• The Restricted Stock Units that vested were originally granted on May 24, 2024, and cliff vested on May 27, 2025.

Sentiment

Score: 5

Explanation: The document reports a routine insider transaction related to executive compensation (RSU vesting and tax-related sale), which is generally neutral in sentiment and an expected course of business.

Positives

• The vesting of Restricted Stock Units indicates the fulfillment of performance or time-based conditions, aligning executive incentives with company performance and long-term shareholder value.

Negatives

• The disposition of 7,434 shares, while a common practice for tax withholding upon RSU vesting, represents a reduction in the direct shareholding of the CEO.

Related Party Transactions

• The reporting person, Kurt James Wolf, is the managing member of entities (Hestia Capital Partners, LP, Helios I, LP, and Separately Managed Accounts) that hold significant indirect beneficial ownership in Pitney Bowes common stock. He disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.

Stakeholder Impact

• Shareholders: The transaction is a routine RSU vesting and tax-related sale, which is a common part of executive compensation and generally has minimal direct impact on existing shareholders beyond the minor dilution from RSU issuance (already accounted for) and the small sale volume.
• Employees: No direct impact on employees mentioned.
• Customers/Suppliers/Creditors: No direct impact on these stakeholders mentioned.

Key Dates

Keywords

Pitney Bowes, PBI, SEC Form 4, Insider Transaction, Restricted Stock Units, RSU Vesting, Executive Compensation, Kurt James Wolf, Common Stock, Beneficial Ownership