PITNEY BOWES INC /DE/ — Director's Dealing 2014

May 14, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PITNEY BOWES INC /DE/ (PBI)
CIK: 0000078814
Period of Report: 2014-05-12

Reporting Person: HUTCHESON STEWART D (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-05-12	Restricted Stock Units	$	A	3816	Acquired		Common Stock (3816)	Direct

Footnotes

F1: Each restricted stock unit represents a contingent right to receive one share of Pitney Bowes common stock.

F2: Each unit represents a contingent right to receive one share of Pitney Bowes common stock that will cliff vest 100% in one year.