PITNEY BOWES INC /DE/ — Director's Dealing 2011

Apr 20, 2011

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: PITNEY BOWES INC /DE/ (PBI)
CIK: 0000078814
Period of Report: 2011-04-11

Reporting Person: O'Hara John E (EVP&President, PB Software S)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	760.5927	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Stock Units	$0.0000		Common Stock (10952.0000)		Direct
Restricted Stock Units	$0.0000	2015-02-03	Common Stock (3117.0000)		Direct
Restricted Stock Units	$0.0000	2014-02-04	Common Stock (1026.0000)		Direct
Restricted Stock Units	$0.0000	2013-02-05	Common Stock (531.0000)		Direct
Restricted Stock Units	$0.0000	2012-02-11	Common Stock (178.0000)		Direct
Restricted Stock Units	$0.0000	2013-06-23	Common Stock (15645.0000)		Direct
Restricted Stock Units	$0.0000	2011-09-04	Common Stock (1500.0000)		Direct
Stock Option	$22.0900	2020-02-07	Common Stock (10718.0000)		Direct
Stock Option	$24.7500	2019-02-08	Common Stock (8635.0000)		Direct
Stock Option	$26.0700	2021-02-13	Common Stock (23551.0000)		Direct
Stock Option	$36.9600	2018-02-10	Common Stock (8077.0000)		Direct

Footnotes

F1: Each performance based restricted stock unit will vest subject to predetermined EBIT performance metrics at 3,130 shares on February 7, 2012; 3,352 shares on February 5, 2013 and 4,470 shares June 23, 2013 and expired upon vesting date.

F2: The restricted stock units expire upon vesting and vest in four equal annual installments.

F3: The stock option grant vest in three equal annual installments.

F4: The stock option grant vest in four annual installments.