SEC Form 4 · accession 0001562180-18-001162
PITNEY BOWES INC /DE/ · PBI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Marc Bradley Lautenbach
Officer — President and CEO
Period of report
Feb 21, 2018
Accepted (ET)
Feb 23, 2018 · 2:20 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 | Feb 21, 2018 | M | 2,449 | $0.00 | A | 159,691 | D | |
| Common Stock | Feb 21, 2018 | F | 2,449 | $12.21 | D | 157,242 | D | |
| Common Stock | Feb 21, 2018 | M | 763 | $0.00 | A | 158,005 | D | |
| Common Stock | Feb 21, 2018 | F | 763 | $12.21 | D | 157,242 | D | |
| Common Stock | holding | — | — | — | 80,937 | I | By GRAT | |
| Common Stock | holding | — | — | — | 3,514 | I | DSP |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF3,F4 | — | Feb 21, 2018 | M | 2,449 | D | — | — | Common Stock | 2,449 | 210,509 | D |
| Performance Stock UnitsF5,F6 | — | Feb 21, 2018 | M | 763 | D | — | — | Common Stock | 763 | 22,274 | D |
Explanation of responses
- F1The vesting is to pay for Social security and Medicare taxes for the deferred 2015, 2016 and 2017 Grants.
- F2The vesting is to pay for Social Security and Medicare Taxes on the 2015 Grant that was deferred.
- F3Each unit represents a contingent right to receive one share of Pitney Bowes common stock.
- F4Each unit represents a contingent right to receive one share of Pitney Bowes common stock that will vest in three (3) equal annual installments.
- F5Each performance stock unit represents a contingent right to receive Pitney Bowes common stock based upon pre-determined performance factors.
- F6The 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 financial performance, the resulting number of shares released can range from zero to a maximum of 200% of grant.