SEC Form 4 · accession 0001562180-18-001021
PITNEY BOWES INC /DE/ · PBI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael Monahan
Officer — EVP & Chief Operating Officer
Period of report
Feb 13, 2018
Accepted (ET)
Feb 15, 2018 · 6:44 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 StockF1 | Feb 13, 2018 | M | 36,109 | $0.00 | A | 195,952 | D | |
| Common Stock | Feb 13, 2018 | F | 11,465 | $0.00 | D | 184,487 | D | |
| Common Stock | holding | — | — | — | 11,285 | I | By 401(k) |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance Stock UnitsF2,F3 | — | Feb 13, 2018 | M | 9,216 | D | Feb 13, 2018 | — | Common Stock | 9,216 | 0 | D |
| Restricted Stock UnitsF2,F4 | — | Feb 13, 2018 | M | 10,132 | D | Feb 13, 2018 | — | Common Stock | 10,132 | 10,132 | D |
| Restricted Stock UnitsF2,F5 | — | Feb 13, 2018 | M | 7,927 | D | Feb 13, 2018 | — | Common Stock | 7,927 | 7,927 | D |
| Restricted Stock UnitsF2,F6 | — | Feb 13, 2018 | M | 8,834 | D | Feb 13, 2018 | — | Common Stock | 8,834 | 0 | D |
Explanation of responses
- F1Represents 9,216 shares of performance stock units that vested on February 13, 2018 upon the satisfaction of pre-established performance standards. The remaining 26,893 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.
- F5The second vesting of three tranches vesting.
- F6The final vesting of three tranches vesting.