Form 4: Pitney Bowes Executive VP Gregg Zegras Reports Stock Transactions

Executive VP of Pitney Bowes, Gregg Zegras, reports the vesting of restricted stock units to cover tax obligations, resulting in adjustments to his holdings of common stock and derivative securities.

Summary

• On March 7, 2024, Gregg Zegras, Executive VP & P. Global Ecommerce at Pitney Bowes, reported transactions involving Pitney Bowes common stock.
• The transactions involved the vesting of 1,147 restricted stock units, which were used to cover Social Security and Medicare taxes on a 2023 grant that was deferred.
• This resulted in the acquisition of 1,147 shares of common stock at $0.00 and the disposal of 1,147 shares at $3.875.
• Following these transactions, Zegras directly owns 69,930 shares of Pitney Bowes common stock and 113,008 restricted stock units.
• The restricted stock units vest in three equal annual installments and represent a contingent right to receive one share of Pitney Bowes common stock per unit.

Sentiment

Score: 5

Explanation: This is a neutral report of stock transactions related to executive compensation. It doesn't indicate positive or negative sentiment about the company's performance.

Industry Context

This is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.

Key Dates