Freemen-Bosworth Lauren 4

What Happened

• Lauren Freemen-Bosworth, Executive Vice President, General Counsel & Corporate Secretary of Pitney Bowes (PBI), converted/exercised 6,319 contingent units into common shares on 2026-02-26. The units converted at a $0.00 exercise price.
• To satisfy tax withholding, 2,929 of those shares were surrendered/withheld at an implied value of $10.88 per share, resulting in $31,853 used for taxes. Net shares retained by the insider from this conversion = 6,319 - 2,929 = 3,390 shares.
• This was a conversion/vesting-related transaction (routine), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-02-26; Form 4 filed 2026-02-27 (reporting period 2026-02-26).
• Items reported:
  • Exercise/Conversion (code M): 6,319 units → 6,319 shares @ $0.00 (acquired).
  • Tax withholding (code F): 2,929 shares withheld/disposed @ $10.88 = $31,853.
  • Related derivative disposition: 6,319 units recorded as converted/disposed (derivative instrument).
• Shares owned after transaction: not stated in the provided filing.
• Footnotes:
  • F1: Each unit is a contingent right to receive one Pitney Bowes common share.
  • F2: The award vests in equal installments over three years (Feb 26, 2026; Feb 23, 2027; Feb 22, 2028).
• Filing timeliness: Form was filed the day after the transaction date (appears timely based on provided dates).

Context

• This was a routine exercise/conversion of contingent units upon vesting with shares withheld to cover tax obligations (a common cashless-withholding method). It does not represent an open-market sale or a fresh purchase signal; the insider retained a net positive number of shares (about 3,390). As always, such compensation-related conversions are standard and should be interpreted differently from discretionary buy/sell trades.