PITNEY BOWES INC /DE/ — Director's Dealing 2015

Feb 5, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PITNEY BOWES INC /DE/ (PBI)
CIK: 0000078814
Period of Report: 2015-02-03

Reporting Person: Goldstein Daniel J (EVP/Chief Legal & Compliance)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-02-03	Common Stock	M	1318	—	Acquired	21083.2983	Direct
2015-02-03	Common Stock	F	488	$22.57	Disposed	20595.2983	Direct
2015-02-03	Common Stock	M	2198	—	Acquired	22793.2983	Direct
2015-02-03	Common Stock	F	813	$22.57	Disposed	21980.2983	Direct
2015-02-03	Common Stock	M	4694	—	Acquired	26674.2983	Direct
2015-02-03	Common Stock	F	1736	$22.57	Disposed	24938.2983	Direct
2015-02-03	Common Stock	M	2592	—	Acquired	27530.2983	Direct
2015-02-03	Common Stock	F	959	$22.57	Disposed	26571.2983	Direct
2015-02-03	Common Stock	M	12793	—	Acquired	39364.2983	Direct
2015-02-03	Common Stock	F	4875	$22.57	Disposed	34489.2983	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-02-03	Restricted Stock Unit	$0	M	1318	Disposed		Common Stock (1318)	Direct
2015-02-03	Restricted Stock Unit	$0	M	2198	Disposed		Common Stock (2198)	Direct
2015-02-03	Restricted Stock Unit	$0	M	4694	Disposed		Common Stock (4694)	Direct
2015-02-03	Restricted Stock Unit	$0	M	2592	Disposed		Common Stock (2592)	Direct
2015-02-03	Market Stock Unit	$0	M	12793	Disposed		Common Stock (12793)	Direct

Footnotes

F1: The last of four vesting traunches vested.

F2: The third of four vesting traunches vested, leaving 2,198 shares to vest on 2/2/2016.

F3: The second of four vesting traunches,vested leaving 4,693 shares to vest on 2/2/2016 and 4,693 to vest on 2/7/2017.

F4: The first of three vesting traunches vested leaving 2,592 shares to vest on 2/2/2016 and 2,594 shares to vest on 2/7/2017.

F5: The MSUs were granted on 2/13/2012 and have a three year cliff vesting.