Rosenthal Brent D 4

What Happened
Brent D. Rosenthal, a director of Pitney Bowes Inc. (PBI), had 8,755 contingent units convert/execute into 8,755 shares on June 18, 2026 (transaction code M). The filing shows an acquisition of 8,755 shares at $0.00 and a simultaneous disposition of 8,755 shares at $0.00, with no cash proceeds reported. This appears to reflect a conversion/settlement event tied to director awards rather than an open‑market buy or sale.

Key Details

• Transaction date: 2026-06-18; Form 4 filed: 2026-06-22 (filed within required timeframe).
• Reported amounts: 8,755 shares acquired @ $0.00; 8,755 shares disposed @ $0.00; total cash value reported $0.
• Shares owned after transaction: Not specified in the filing.
• Footnotes: F1 — each unit is a contingent right to receive one share of common stock; F2 — these were restricted stock units granted to non‑employee directors on 2025-06-18 that cliff‑vested on 2026-06-18.
• Transaction code M indicates exercise/conversion of a derivative (here, conversion/settlement of RSUs).

Context
For retail investors: this was not an open‑market purchase or a cash sale. The paired acquisition and disposition at $0.00 typically reflects award conversion and settlement mechanics (for example, issuance and immediate transfer/withholding) rather than a trading decision. Such director RSU vesting events are routine; they do not by themselves signal a change in insider sentiment.