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[Form 4] Pitney Bowes Inc. Insider Trading Activity

Filing Impact
(Low)
Filing Sentiment
(Neutral)
Form Type
4
Rhea-AI Filing Summary

Kurt James Wolf, the managing member of the Hestia Parties and listed as President & CEO and a director, reported dispositions of Pitney Bowes Inc. (PBI) common stock on 08/15/2025. The Form 4 shows two disposals: 269,615 shares (transaction code J) and 35,406 shares, with total reported beneficial ownership following the transactions attributed indirectly as 6,369,877 shares via Helios I, LP and additional indirect holdings of 4,810,917 (Hestia Capital), 584,637 (separately managed accounts). The filing explains the 269,615 shares were transferred to two investors to satisfy a redemption request. The reporting person disclaims direct beneficial ownership except to the extent of pecuniary interest.

Kurt James Wolf, socio amministratore delle Parti Hestia nonch茅 indicato come Presidente & CEO e membro del consiglio, ha comunicato cessioni di azioni ordinarie di Pitney Bowes Inc. (PBI) in data 15/08/2025. Il Modulo 4 riporta due disposizioni: 269.615 azioni (codice transazione J) e 35.406 azioni; a seguito delle operazioni la titolarit脿 beneficiaria totale dichiarata 猫 attribuita indirettamente a 6.369.877 azioni tramite Helios I, LP e ulteriori detenzioni indirette pari a 4.810.917 (Hestia Capital) e 584.637 (conti gestiti separatamente). La documentazione specifica che le 269.615 azioni sono state trasferite a due investitori per soddisfare una richiesta di rimborso. La persona che ha presentato la dichiarazione rinuncia alla titolarit脿 beneficiaria diretta, salvo per l'interesse pecuniario.

Kurt James Wolf, miembro administrador de las Partes Hestia y registrado como Presidente & CEO y director, inform贸 disposiciones de acciones ordinarias de Pitney Bowes Inc. (PBI) el 15/08/2025. El Formulario 4 muestra dos enajenaciones: 269.615 acciones (c贸digo de transacci贸n J) y 35.406 acciones; tras las transacciones, la propiedad beneficiaria total reportada se atribuye indirectamente como 6.369.877 acciones v铆a Helios I, LP y posesiones indirectas adicionales de 4.810.917 (Hestia Capital) y 584.637 (cuentas gestionadas por separado). El expediente explica que las 269.615 acciones se transfirieron a dos inversores para satisfacer una solicitud de reembolso. La persona informante renuncia a la propiedad beneficiaria directa salvo en la medida de su inter茅s pecuniario.

Kurt James Wolf電� Hestia 雼轨偓鞛愲摛鞚� 甏�毽� 甑劚鞗愳澊氅�, 靷灔 瓴� 斓滉碃瓴届榿鞛�(CEO) 氚� 鞚挫偓搿� 霌膘灛霅橃柎 鞛堨溂氅�, 2025雲� 8鞗� 15鞚�鞐� Pitney Bowes Inc.(PBI) 氤错喌欤� 觳橂秳鞚� 氤搓碃頄堨姷雼堧嫟. Form 4鞐愲姅 霊� 瓯挫潣 觳橂秳鞚� 旮办灛霅橃柎 鞛堨姷雼堧嫟: 瓯半灅 旖旊摐 J鞚� 269,615欤� 氚� 35,406欤�; 瓯半灅 頉� 氤搓碃霅� 齑� 鞁れ鞝� 氤挫湢電� Helios I, LP毳� 韱淀暣 臧勳爲鞝侅溂搿� 6,369,877欤茧 攴�靻嶋悩氅�, 於旉皜 臧勳爲 氤挫湢搿滊姅 4,810,917欤�(Hestia Capital)鞕� 584,637欤�(氤勲弰 鞖挫毄 瓿勳)臧� 鞛堨姷雼堧嫟. 鞝滌稖 靹滊電� 269,615欤缄皜 靸來櫂 鞖旍箔鞚� 於╈”頃橁赴 鞙勴暣 霊� 韴瀽鞛愳棎瓴� 鞚挫爠霅橃棃雼り碃 靹る獏頃╇媹雼�. 氤搓碃鞚胳潃 旮堨爠鞝� 鞚挫澋 氩旍渼毳� 鞝滌櫢頃橁碃 歆侅爲鞝� 鞁れ鞝� 靻岇湢甓岇潉 攵�鞚疙暕雼堧嫟.

Kurt James Wolf, membre dirigeant des parties Hestia et inscrit en tant que Pr茅sident & CEO ainsi que administrateur, a d茅clar茅 des cessions d'actions ordinaires de Pitney Bowes Inc. (PBI) le 15/08/2025. Le formulaire 4 indique deux cessions : 269 615 actions (code transaction J) et 35 406 actions ; apr猫s les op茅rations, la d茅tention b茅n茅ficiaire totale d茅clar茅e est attribu茅e indirectement 脿 6 369 877 actions via Helios I, LP, avec des avoirs indirects suppl茅mentaires de 4 810 917 (Hestia Capital) et 584 637 (comptes g茅r茅s s茅par茅ment). Le dossier pr茅cise que les 269 615 actions ont 茅t茅 transf茅r茅es 脿 deux investisseurs pour satisfaire une demande de rachat. La personne d茅clarante d茅cline toute d茅tention b茅n茅ficiaire directe, sauf dans la mesure d'un int茅r锚t p茅cuniaire.

Kurt James Wolf, gesch盲ftsf眉hrendes Mitglied der Hestia-Parteien und als Pr盲sident & CEO sowie Direktor aufgef眉hrt, meldete Ver盲u脽erungen von Stammaktien der Pitney Bowes Inc. (PBI) am 15.08.2025. Das Formular 4 weist zwei Ver盲u脽erungen aus: 269.615 Aktien (Transaktionscode J) und 35.406 Aktien; nach den Transaktionen wird das insgesamt gemeldete wirtschaftliche Eigentum indirekt mit 6.369.877 Aktien 眉ber Helios I, LP angegeben, zuz眉glich indirekter Best盲nde von 4.810.917 (Hestia Capital) und 584.637 (separat verwaltete Konten). Die Einreichung erkl盲rt, dass die 269.615 Aktien an zwei Investoren 眉bertragen wurden, um eine 搁眉肠办苍补丑尘别补苍蹿谤补驳别 zu erf眉llen. Die meldende Person lehnt direktes wirtschaftliches Eigentum ab, au脽er in dem Ma脽e, in dem ein pecuni盲res Interesse besteht.

Positive
  • None.
Negative
  • Disposition of 269,615 shares reported on 08/15/2025, indicating a material transfer out of holdings to satisfy a redemption request
  • Additional disposition of 35,406 shares reported the same date, reducing the aggregate position held indirectly by the reporting person

Insights

TL;DR: Insider disposals were executed to satisfy investor redemptions; reporting person retains large indirect holdings via related entities.

The Form 4 documents discretionary transfers totaling 304, (021) shares disposed (269,615 and 35,406). The filing includes an explicit explanation that the larger transfer met a redemption request, which is a common liquidity event for partnership investors rather than a directional personal trade. Governance implications center on clarity of indirect ownership: the reporting person is the managing member of multiple entities that collectively hold several million shares, and he expressly disclaims direct beneficial ownership beyond pecuniary interest. For compliance, the filing properly discloses relationship, indirect holdings, and the nature of the transfer.

TL;DR: Reported dispositions reduce indirect holdings modestly but the Hestia Parties remain large stakeholders in PBI.

The disclosures show the Hestia-related entities still beneficially own multi-million share positions: 6,369,877 shares via Helios I, LP plus 4,810,917 via Hestia Capital and 584,637 in SMAs. The transactions documented are transfers (including a redemption-driven transfer) rather than open-market sales at disclosed prices; no price per share is provided. From an investor-impact perspective, the filing signals liquidity activity within Hestia's investor base but does not provide evidence of a change in strategic ownership or disposition of the core position.

Kurt James Wolf, socio amministratore delle Parti Hestia nonch茅 indicato come Presidente & CEO e membro del consiglio, ha comunicato cessioni di azioni ordinarie di Pitney Bowes Inc. (PBI) in data 15/08/2025. Il Modulo 4 riporta due disposizioni: 269.615 azioni (codice transazione J) e 35.406 azioni; a seguito delle operazioni la titolarit脿 beneficiaria totale dichiarata 猫 attribuita indirettamente a 6.369.877 azioni tramite Helios I, LP e ulteriori detenzioni indirette pari a 4.810.917 (Hestia Capital) e 584.637 (conti gestiti separatamente). La documentazione specifica che le 269.615 azioni sono state trasferite a due investitori per soddisfare una richiesta di rimborso. La persona che ha presentato la dichiarazione rinuncia alla titolarit脿 beneficiaria diretta, salvo per l'interesse pecuniario.

Kurt James Wolf, miembro administrador de las Partes Hestia y registrado como Presidente & CEO y director, inform贸 disposiciones de acciones ordinarias de Pitney Bowes Inc. (PBI) el 15/08/2025. El Formulario 4 muestra dos enajenaciones: 269.615 acciones (c贸digo de transacci贸n J) y 35.406 acciones; tras las transacciones, la propiedad beneficiaria total reportada se atribuye indirectamente como 6.369.877 acciones v铆a Helios I, LP y posesiones indirectas adicionales de 4.810.917 (Hestia Capital) y 584.637 (cuentas gestionadas por separado). El expediente explica que las 269.615 acciones se transfirieron a dos inversores para satisfacer una solicitud de reembolso. La persona informante renuncia a la propiedad beneficiaria directa salvo en la medida de su inter茅s pecuniario.

Kurt James Wolf電� Hestia 雼轨偓鞛愲摛鞚� 甏�毽� 甑劚鞗愳澊氅�, 靷灔 瓴� 斓滉碃瓴届榿鞛�(CEO) 氚� 鞚挫偓搿� 霌膘灛霅橃柎 鞛堨溂氅�, 2025雲� 8鞗� 15鞚�鞐� Pitney Bowes Inc.(PBI) 氤错喌欤� 觳橂秳鞚� 氤搓碃頄堨姷雼堧嫟. Form 4鞐愲姅 霊� 瓯挫潣 觳橂秳鞚� 旮办灛霅橃柎 鞛堨姷雼堧嫟: 瓯半灅 旖旊摐 J鞚� 269,615欤� 氚� 35,406欤�; 瓯半灅 頉� 氤搓碃霅� 齑� 鞁れ鞝� 氤挫湢電� Helios I, LP毳� 韱淀暣 臧勳爲鞝侅溂搿� 6,369,877欤茧 攴�靻嶋悩氅�, 於旉皜 臧勳爲 氤挫湢搿滊姅 4,810,917欤�(Hestia Capital)鞕� 584,637欤�(氤勲弰 鞖挫毄 瓿勳)臧� 鞛堨姷雼堧嫟. 鞝滌稖 靹滊電� 269,615欤缄皜 靸來櫂 鞖旍箔鞚� 於╈”頃橁赴 鞙勴暣 霊� 韴瀽鞛愳棎瓴� 鞚挫爠霅橃棃雼り碃 靹る獏頃╇媹雼�. 氤搓碃鞚胳潃 旮堨爠鞝� 鞚挫澋 氩旍渼毳� 鞝滌櫢頃橁碃 歆侅爲鞝� 鞁れ鞝� 靻岇湢甓岇潉 攵�鞚疙暕雼堧嫟.

Kurt James Wolf, membre dirigeant des parties Hestia et inscrit en tant que Pr茅sident & CEO ainsi que administrateur, a d茅clar茅 des cessions d'actions ordinaires de Pitney Bowes Inc. (PBI) le 15/08/2025. Le formulaire 4 indique deux cessions : 269 615 actions (code transaction J) et 35 406 actions ; apr猫s les op茅rations, la d茅tention b茅n茅ficiaire totale d茅clar茅e est attribu茅e indirectement 脿 6 369 877 actions via Helios I, LP, avec des avoirs indirects suppl茅mentaires de 4 810 917 (Hestia Capital) et 584 637 (comptes g茅r茅s s茅par茅ment). Le dossier pr茅cise que les 269 615 actions ont 茅t茅 transf茅r茅es 脿 deux investisseurs pour satisfaire une demande de rachat. La personne d茅clarante d茅cline toute d茅tention b茅n茅ficiaire directe, sauf dans la mesure d'un int茅r锚t p茅cuniaire.

Kurt James Wolf, gesch盲ftsf眉hrendes Mitglied der Hestia-Parteien und als Pr盲sident & CEO sowie Direktor aufgef眉hrt, meldete Ver盲u脽erungen von Stammaktien der Pitney Bowes Inc. (PBI) am 15.08.2025. Das Formular 4 weist zwei Ver盲u脽erungen aus: 269.615 Aktien (Transaktionscode J) und 35.406 Aktien; nach den Transaktionen wird das insgesamt gemeldete wirtschaftliche Eigentum indirekt mit 6.369.877 Aktien 眉ber Helios I, LP angegeben, zuz眉glich indirekter Best盲nde von 4.810.917 (Hestia Capital) und 584.637 (separat verwaltete Konten). Die Einreichung erkl盲rt, dass die 269.615 Aktien an zwei Investoren 眉bertragen wurden, um eine 搁眉肠办苍补丑尘别补苍蹿谤补驳别 zu erf眉llen. Die meldende Person lehnt direktes wirtschaftliches Eigentum ab, au脽er in dem Ma脽e, in dem ein pecuni盲res Interesse besteht.

SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Wolf Kurt James
(Last) (First) (Middle)
3001 SUMMER ST.
(Street)
STAMFORD CT 06926
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
PITNEY BOWES INC /DE/ [ PBI ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
X Officer (give title below) Other (specify below)
President & CEO
3. Date of Earliest Transaction (Month/Day/Year)
08/15/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 08/15/2025 J(1) 269,615 D (1) 6,369,877 I By Helios I, LP(2)
Common Stock 4,810,917 I By Hestia Capital Partners, LP(2)
Common Stock 584,637 I By Separately Managed Accounts(2)
Common Stock 35,406 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. These shares were transferred to two investors of the Hestia Parties (as defined in footnote 2) in order to meet a redemption request.
2. The reporting person is the managing member of (a) Hestia Partners GP, the general partner of Hestia Capital Partners, LP (Hestia Capital) and Helios I, LP (Helios), and (b) Hestia LLC, the investment manager of Hestia Capital, Helios, and certain separately managed accounts (the SMAs). As the managing member of each of Hestia Partners GP and Hestia LLC, the reporting person may be deemed the beneficial owner of the shares directly owned by Hestia Capital, shares directly owned by Helios, and shares held in the SMAs. The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein. Hestia Partners GP, Hestia Capital, and Hestia LLC are collectively referred to as the Hestia Parties.
Remarks:
/s/ Elisabeth Weinberg, as attorney-in-fact for Kurt James Wolf 08/15/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source:

FAQ

What transactions did Kurt James Wolf report on Form 4 for PBI?

The Form 4 reports dispositions of 269,615 shares (code J) and 35,406 shares on 08/15/2025.

Why were the shares transferred according to the filing?

The filing states the 269,615 shares were transferred to two investors to meet a redemption request.

How many PBI shares are attributed indirectly to the Hestia entities after the transactions?

The Form 4 lists 6,369,877 shares via Helios I, LP, 4,810,917 via Hestia Capital Partners, LP, and 584,637 held in separately managed accounts.

Does the reporting person claim direct beneficial ownership of these shares?

The reporting person disclaims direct beneficial ownership except to the extent of his pecuniary interest in the Hestia-related entities.

Was any price per share disclosed for these transactions?

No price per share is provided in the disclosed entries on the Form 4.
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[Form 4] Pitney Bowes Inc. Insider Trading Activity

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2.11B
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76.31%
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Integrated Freight & Logistics
Office Machines, Nec
United States
STAMFORD