SEC Form 4 · accession 0001562180-18-001017

· PBI

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Officer — Exec VP, Glbl Ecomm & Shipping

Period of report

Feb 13, 2018

Accepted (ET)

Feb 15, 2018 · 6:43 pm EST

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0000078814

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Common Stock^F1	Feb 13, 2018	M	7,383	$0.00	A	20,808	D
Common Stock	Feb 13, 2018	F	2,507	$0.00	D	18,301	D

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Performance Stock Units^F2,F3	—	Feb 13, 2018	M	1,959	D	Feb 13, 2018	—	Common Stock	1,959	0	D
Restricted Stock Units^F2,F4	—	Feb 13, 2018	M	3,546	D	Feb 13, 2018	—	Common Stock	3,546	6,434	D
Restricted Stock Units^F2,F4	—	Feb 13, 2018	M	1,878	D	Feb 13, 2018	—	Common Stock	1,878	0	D

F1Represents 1,959 shares of performance stock units that vested on February 13, 2018 upon the satisfaction of pre-established performance standards. The remaining 5,424 shares represent the settlement of restricted stock units upon vesting of such units granted in February 2015, 2016 and 2017.
F2Each unit represents a contingent right to receive one share of Pitney Bowes common stock.
F3The 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.
F4The first vesting of three tranches vesting.