PITNEY BOWES INC /DE/ — Director's Dealing 2018

Feb 16, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PITNEY BOWES INC /DE/ (PBI)
CIK: 0000078814
Period of Report: 2018-02-13

Reporting Person: Christoph Stehmann (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-02-13	Common Stock	M	2616.00	$0.00	Acquired	10350.686	Direct
2018-02-13	Common Stock	F	760.00	$0.00	Disposed	9590.686	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-02-13	Performance Stock Units	$	M	1335.00	Disposed		Common Stock (1335.00)	Direct
2018-02-13	Restricted Stock Units	$	M	1281.00	Disposed		Common Stock (1281.00)	Direct

Footnotes

F1: Represents 1,335 shares of performance stock units that vested on February 13, 2018 upon the satisfaction of pre-established performance standards. The remaining 1,281 shares represent the settlement of restricted stock units upon vesting of such units granted in February 2015, 2016 and 2017.

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

F3: The performance stock units (PSUs) represent a contingent right to receive Pitney Bowes common stock with a 3 year cliff vesting. The shares that will vest are based on the pre-established performance standards set by the Board upon making each award, and could result in more of less shares being issued at the time of the vesting due to the pre-established performance standards. Depending on market-based and nonmarket-based factors, such as achievement of pre-established financial metrics, the resulting number of shares released can range from zero to 200% of the grant, subject to the per individual share grant limit imposed by the Stock Plan.

F4: The final of three vesting traunches vesting.