Pitney Bowes (PBI) CFO Paul Evans Converts 7,355 Units; 2,306 Withheld

What Happened

• Paul J. Evans, EVP, CFO and Treasurer of Pitney Bowes (PBI), converted 7,355 contingent rights/units into common shares on August 13, 2026. The reported exercise/conversion had no cash exercise price ($0). To satisfy tax withholding, 2,306 shares were surrendered at $16.80 per share, totaling $38,752. Net shares retained from this conversion: 5,049 (7,355 acquired minus 2,306 withheld).

Key Details

• Transaction date: 2026-08-13; Form 4 filed: 2026-08-14 (filed the next day).
• Conversion: 7,355 units -> 7,355 shares @ $0.00 (reported as exercise/conversion).
• Tax withholding: 2,306 shares withheld/disposed @ $16.80 = $38,752 (code F).
• Net new shares retained: 5,049.
• Shares owned after transaction: Not disclosed on the Form 4.
• Footnotes: F1 — each unit = right to one share; F2 — units vest in three equal installments on Aug 13, 2026; Aug 13, 2027; Aug 13, 2028.
• Filing timeliness: Not indicated late (filed one day after the transaction).

Context

• This was a conversion/vesting event (derivative-to-share conversion), not an open-market purchase or sale for investment. The withholding of 2,306 shares to cover tax is a routine cashless-style tax withholding and does not necessarily indicate a directional view on the stock. The units appear to be part of a multi-year vesting award (1/3 vested on Aug 13, 2026).