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

Feb 6, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PITNEY BOWES INC /DE/ (PBI)
CIK: 0000078814
Period of Report: 2014-02-04

Reporting Person: TORSONE JOHNNA G (EVP/Chief HR Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-02-04	Common Stock	M	1556	—	Acquired	33960	Direct
2014-02-04	Common Stock	F	524	$24.74	Disposed	33436	Direct
2014-02-04	Common Stock	M	4116	—	Acquired	37552	Direct
2014-02-04	Common Stock	F	1564	$24.74	Disposed	35988	Direct
2014-02-04	Common Stock	M	1928	—	Acquired	37916	Direct
2014-02-04	Common Stock	F	640	$24.74	Disposed	37276	Direct
2014-02-04	Common Stock	M	1319	—	Acquired	38595	Direct
2014-02-04	Common Stock	F	450	$24.74	Disposed	38145	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-02-04	Restricted Stock Unit	$0	M	1556	Disposed	2014-02-04	Common Stock (1556)	Direct
2014-02-04	Restricted Stock Unit	$0	M	1319	Disposed	2015-02-03	Common Stock (1319)	Direct
2014-02-04	Restricted Stock Unit	$0	M	1928	Disposed	2016-02-02	Common Stock (1928)	Direct
2014-02-04	Restricted Stock Unit	$0	M	4116	Disposed	2017-02-07	Common Stock (4116)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	890.0662	Indirect
Common Stock	7000	Indirect

Footnotes

F1: The third of four vesting traunches vested, leaving 1,318 shares yet to vest on 2/3/2015.

F2: The second of four vesting traunches vested, leaving 1,927 shares to vest on 2/3/2015 and 1,928 to vest on 2/2/2016.

F3: The first of four vesting traunches vested, leaving 4,115 shares to vest on 2/3/2015, 4,116 to vest on 2/2/2016 and 4,115 to vest on 2/7/2017.