PITNEY BOWES INC /DE/ — Director's Dealing 2016

Feb 3, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PITNEY BOWES INC /DE/ (PBI)
CIK: 0000078814
Period of Report: 2016-02-02

Reporting Person: Christoph Stehmann (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-02-02	Common Stock	M	330.00	$0.00	Acquired	2601.7232	Direct
2016-02-02	Common Stock	F	131.00	$17.28	Disposed	2470.7232	Direct
2016-02-02	Common Stock	M	300.00	$0.00	Acquired	2770.7232	Direct
2016-02-02	Common Stock	F	119.00	$17.28	Disposed	2651.7232	Direct
2016-02-02	Common Stock	M	643.00	$0.00	Acquired	3294.7232	Direct
2016-02-02	Common Stock	F	255.00	$17.28	Disposed	3039.7232	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-02-02	Restricted Stock Unit	$0.00	M	330.00	Disposed		Common Stock (330.00)	Direct
2016-02-02	Restricted Stock Unit	$0.00	M	300.00	Disposed		Common Stock (300.00)	Direct
2016-02-02	Restricted Stock Unit	$0.00	M	643.00	Disposed		Common Stock (643.00)	Direct

Footnotes

F1: The last of four traunches vested.

F2: The third off four vesting traunches vested, leaving 300 to vest on 2/7/2017.

F3: The second of three vesting traunches vested, leaving 644 to vest on 2/7/2017.