Wolf Kurt James 4
4 · PITNEY BOWES INC /DE/ · Filed Mar 13, 2026
Research Summary
AI-generated summary of this filing
PBI CEO Wolf Kurt James Sells 150,000 Shares
What Happened
Wolf Kurt James, President & CEO and a director of Pitney Bowes Inc. (PBI), sold a total of 150,000 shares on March 11, 2026. The sales consisted of 136,500 shares (reported at a weighted-average price of $10.38; proceeds $1,416,461) and 13,500 shares (also at $10.38 weighted-average; proceeds $140,090), for combined proceeds of approximately $1,556,551. The filing’s footnotes state these transactions involved stock option exercises and broker-assisted sales effected pursuant to a Rule 10b5-1 trading plan adopted November 10, 2025.
Key Details
- Transaction date: March 11, 2026; Form 4 filed March 13, 2026 (timely within required window).
- Prices: weighted-average $10.38; actual trade prices ranged from $10.235 to $10.58 per share.
- Shares sold: 136,500 and 13,500 (total 150,000). Total proceeds ≈ $1.56M.
- Post-transaction holdings: not disclosed in the provided excerpt of the filing.
- Notable footnotes:
- F1: Sales and option exercises were executed under a Rule 10b5-1 trading plan (adopted 11/10/2025).
- F2: Weighted-average price reported; seller can provide per-price breakdown on request.
- F3: Reporting person may be deemed beneficial owner of shares held by Hestia-related funds/SMAs but disclaims beneficial ownership except for pecuniary interest.
- Transaction type: Sale (likely routine given use of a pre-established 10b5-1 plan and broker-assisted execution).
Context: The filing indicates these were planned transactions under a 10b5-1 plan and involved option exercises plus broker-assisted sales. Such pre-arranged plans schedule trades in advance and therefore do not alone indicate a change in the insider’s view of the company’s prospects.
Insider Transaction Report
- Sale
Common Stock
[F1][F2][F3]2026-03-11$10.38/sh−136,500$1,416,461→ 7,598,168 total(indirect: By Hestia Capital Partners, LP) - Sale
Common Stock
[F1][F2][F3]2026-03-11$10.38/sh−13,500$140,090→ 557,637 total(indirect: By Separately Managed Accounts)
- 53,789
Common Stock
Footnotes (3)
- [F1]The stock option exercises and broker-assisted sales transactions reported were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 10, 2025 during the Company's open window period (the "Trading Plan").
- [F2]The price reported here is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.235 to $10.58, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.
- [F3]The reporting person is the managing member of (a) Hestia Partners GP, the general partner of Hestia Capital Partners, LP (Hestia Capital), and (b) Hestia LLC, the investment manager of Hestia Capital and certain separately managed accounts (the SMAs). As the managing member of each of Hestia Partners GP and Hestia LLC, the reporting person may be deemed the beneficial owner of the shares directly owned by Hestia Capital and shares held in the SMAs. The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.