Form 4: Pitney Bowes CEO Sells Shares Under 10b5-1 Plan

Pitney Bowes Inc. President & CEO Kurt James Wolf reported the sale of company stock executed under a pre-arranged trading plan.

Summary

• Kurt James Wolf, President & CEO of Pitney Bowes Inc., reported transactions involving company common stock on May 22, 2026.
• These transactions were conducted under a Rule 10b5-1 trading plan adopted on November 10, 2025.
• Wolf sold 36,833 shares of common stock at a weighted average price of $15.622, with prices ranging from $15.61 to $15.655.
• Following these sales, Wolf directly beneficially owns 64,695 shares of common stock.
• Additionally, indirect beneficial ownership is reported through Hestia Capital Partners, LP (5,601,965 shares) and Separately Managed Accounts (360,210 shares), where Wolf serves as managing member.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing. While it involves a CEO selling shares, the use of a 10b5-1 plan and the adherence to open window periods suggest a planned, non-opportunistic divestment rather than a signal of negative company outlook.

Positives

• The transactions were executed under a Rule 10b5-1 plan, indicating pre-planned and potentially non-insider trading activity.
• The sales occurred during an open window period, suggesting adherence to company trading policies.
• The reporting person has committed to providing full information on sale prices upon request.

Negatives

• The CEO sold a significant number of shares (36,833), which could be perceived negatively by the market.
• The weighted average sale price of $15.622 represents a disposal of equity at a specific market valuation.

Risks

• Potential for negative market perception due to insider selling, even if conducted under a 10b5-1 plan.
• The weighted average sale price indicates a specific valuation point at which the CEO chose to divest.

Future Outlook

The filing does not contain forward-looking statements or guidance. It solely reports on past transactions.

Management Comments

• 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. This transaction was executed in multiple transactions at prices ranging from $15.61 to $15.655, 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.
• 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.

Industry Context

StockSavvy.ai notes that Form 4 filings are standard disclosures for insider transactions. The use of a Rule 10b5-1 plan by Pitney Bowes' CEO is a common strategy to manage stock sales while mitigating insider trading concerns, especially during open trading windows.

Stakeholder Impact

• Shareholders: May interpret the CEO's sale as a negative signal, despite the 10b5-1 plan, potentially impacting stock price. However, the plan's existence aims to mitigate this.
• Employees: Similar to shareholders, employees holding stock options or company stock may react to insider selling.
• Management: Demonstrates adherence to corporate governance policies regarding stock trading.

Next Steps

• The reporting person may provide full information regarding the number of shares sold at each separate price within the range upon request from the issuer, any security holder, or the SEC staff.

Key Dates

Keywords

Pitney Bowes, PBI, Form 4, Insider Trading, 10b5-1 Plan, Stock Sale, CEO, Beneficial Ownership, Securities Exchange Act