PITNEY BOWES INC /DE/ — Director's Dealing 2017

Feb 21, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PITNEY BOWES INC /DE/ (PBI)
CIK: 0000078814
Period of Report: 2017-02-21

Reporting Person: Snyder Lila (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-02-21	Common Stock	M	53.00	$0.00	Acquired	12928.4174	Direct
2017-02-21	Common Stock	F	53.00	$13.33	Disposed	12875.4174	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-02-21	Restricted Stock Units	$	M	53.00	Disposed		Common Stock (53.00)	Direct

Footnotes

F1: The vesting is to pay for Social security and Medicare taxes for the deferred 2015/2016 Grants.

F2: Each unit represents a contingent right to receive one share of Pitney Bowes common stock.

F3: Each unit represents a contingent right to receive one share of Pitney Bowes common stock that will vest in three (3) equal annual installments.