# EDGAR Filing Document

**Accession Number:** 0001456565
**File Stem:** 0000921895-26-001219
**Filing Date:** 2026-5
**Character Count:** 20263
**Document Hash:** 5cf1fe4920e87605da76d577516e434a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000921895-26-001219.hdr.sgml**: 20260511

**ACCESSION NUMBER**: 0000921895-26-001219

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20260511

**DATE AS OF CHANGE**: 20260511

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PITNEY BOWES INC /DE/
- **CENTRAL INDEX KEY:** 0000078814
- **STANDARD INDUSTRIAL CLASSIFICATION:** OFFICE MACHINES, NEC [3579]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 060495050
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-30153
- **FILM NUMBER:** 26965024

**BUSINESS ADDRESS:**
- **STREET 1:** PITNEY BOWES INC
- **STREET 2:** 27 WATERVIEW DRIVE
- **CITY:** SHELTON
- **STATE:** CT
- **ZIP:** 06484
- **BUSINESS PHONE:** 203-922-4000

**MAIL ADDRESS:**
- **STREET 1:** 27 WATERVIEW DRIVE
- **CITY:** SHELTON
- **STATE:** CT
- **ZIP:** 06484
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HESTIA CAPITAL PARTNERS LP
- **CENTRAL INDEX KEY:** 0001456565

**ORGANIZATION NAME:**
- **EIN:** 264027247
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**BUSINESS ADDRESS:**
- **STREET 1:** 175 BRICKYARD RD
- **CITY:** ADAMS TOWNSHIP
- **STATE:** PA
- **ZIP:** 16046
- **BUSINESS PHONE:** 724-687-7842

**MAIL ADDRESS:**
- **STREET 1:** 175 BRICKYARD RD
- **CITY:** ADAMS TOWNSHIP
- **STATE:** PA
- **ZIP:** 16046

## Ex-1

Exhibit 1

**<u>Transactions in the Securities of the Issuer During the Past 60 days</u>**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;<u>Nature of the Transaction</u> | &nbsp;&nbsp; Securities<br> <u>Purchased/(Sold)</u> | &nbsp;&nbsp; Price Per<br> <u>Security($)</u> | &nbsp;&nbsp; Date of<br> <u>Purchase/Sale</u> |

---

**<u>HESTIA CAPITAL PARTNERS, LP</u>**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;Sale of Common Stock<sup>1</sup> | &nbsp;&nbsp;(145863) | &nbsp;&nbsp;11.061 | &nbsp;&nbsp;04/01/2026 |
| &nbsp;&nbsp;Sale of Common Stock<sup>2</sup> | &nbsp;&nbsp;(36326) | &nbsp;&nbsp;11.137 | &nbsp;&nbsp;04/02/2026 |
| &nbsp;&nbsp;Sale of Common Stock<sup>3</sup> | &nbsp;&nbsp;(706681) | &nbsp;&nbsp;14.473 | &nbsp;&nbsp;05/06/2026 |
| &nbsp;&nbsp;Sale of Common Stock<sup>4</sup> | &nbsp;&nbsp;(172890) | &nbsp;&nbsp;15.014 | &nbsp;&nbsp;05/06/2026 |
| &nbsp;&nbsp;Sale of Common Stock<sup>5</sup> | &nbsp;&nbsp;(543474) | &nbsp;&nbsp;15.594 | &nbsp;&nbsp;05/07/2026 |
| &nbsp;&nbsp;Sale of Common Stock<sup>6</sup> | &nbsp;&nbsp;(354136) | &nbsp;&nbsp;15.686 | &nbsp;&nbsp;05/08/2026 |

---

**<u>HESTIA CAPITAL MANAGEMENT, LLC<br> (On Behalf of The Separately Managed Accounts)</u>**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;Sale of Common Stock<sup>1</sup> | &nbsp;&nbsp;(14426) | &nbsp;&nbsp;11.061 | &nbsp;&nbsp;04/01/2026 |
| &nbsp;&nbsp;Sale of Common Stock<sup>2</sup> | &nbsp;&nbsp;(3593) | &nbsp;&nbsp;11.137 | &nbsp;&nbsp;04/02/2026 |
| &nbsp;&nbsp;Sale of Common Stock<sup>3</sup> | &nbsp;&nbsp;(69891) | &nbsp;&nbsp;14.473 | &nbsp;&nbsp;05/06/2026 |
| &nbsp;&nbsp;Sale of Common Stock<sup>4</sup> | &nbsp;&nbsp;(17099) | &nbsp;&nbsp;15.014 | &nbsp;&nbsp;05/06/2026 |
| &nbsp;&nbsp;Sale of Common Stock<sup>5</sup> | &nbsp;&nbsp;(53750) | &nbsp;&nbsp;15.594 | &nbsp;&nbsp;05/07/2026 |
| &nbsp;&nbsp;Sale of Common Stock<sup>6</sup> | &nbsp;&nbsp;(35025) | &nbsp;&nbsp;15.686 | &nbsp;&nbsp;05/08/2026 |

---

____________________________

<sup>1</sup> The price reported herein is a weighted average price. These Shares were sold in multiple transactions at prices ranging from $10.925 to $11.15, inclusive. The Reporting Persons undertake 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.

<sup>2</sup> The price reported herein is a weighted average price. These Shares were sold in multiple transactions at prices ranging from $11.13 to $11.155, inclusive. The Reporting Persons undertake 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.

<sup>3</sup> The price reported herein is a weighted average price. These Shares were sold in multiple transactions at prices ranging from $13.90 to $14.895, inclusive. The Reporting Persons undertake 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.

<sup>4</sup> The price reported herein is a weighted average price. These Shares were sold in multiple transactions at prices ranging from $14.90 to $15.07, inclusive. The Reporting Persons undertake 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.

<sup>5</sup> The price reported herein is a weighted average price. These Shares were sold in multiple transactions at prices ranging from $14.95 to $15.79, inclusive. The Reporting Persons undertake 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.

<sup>6</sup> The price reported herein is a weighted average price. These Shares were sold in multiple transactions at prices ranging from $15.53 to $15.93, inclusive. The Reporting Persons undertake 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.

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 12)**

**PITNEY BOWES INC /DE/**

*(Name of Issuer)*

**Common Stock, $1 par value per share**

*(Title of Class of Securities)*

**—**

*(CUSIP Number)*

**KURTIS J. WOLF**<br>HESTIA CAPITAL MANAGEMENT, LLC<br>8050 Rowan Road, Suite 300<br>Cranberry Township PA 16066<br>724-687-7842

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**05/11/2026**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **—** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**HESTIA CAPITAL PARTNERS LP** | Name of reporting person<br>**HESTIA CAPITAL PARTNERS LP** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**5638798.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**5638798.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**5638798.00** | Aggregate amount beneficially owned by each reporting person<br>**5638798.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**4.2%** | Percent of class represented by amount in Row (11)<br>**4.2%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

| **CUSIP No.** | **—** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**HESTIA CAPITAL PARTNERS GP, LLC** | Name of reporting person<br>**HESTIA CAPITAL PARTNERS GP, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**5638798.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**5638798.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**5638798.00** | Aggregate amount beneficially owned by each reporting person<br>**5638798.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**4.2%** | Percent of class represented by amount in Row (11)<br>**4.2%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

| **CUSIP No.** | **—** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Hestia Capital Management, LLC** | Name of reporting person<br>**Hestia Capital Management, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**6002651.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**6002651.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**6002651.00** | Aggregate amount beneficially owned by each reporting person<br>**6002651.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**4.4%** | Percent of class represented by amount in Row (11)<br>**4.4%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

| **CUSIP No.** | **—** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Wolf Kurt James** | Name of reporting person<br>**Wolf Kurt James** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**294404.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**6002651.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**294404.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**6002651.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**6297055.00** | Aggregate amount beneficially owned by each reporting person<br>**6297055.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**4.6%** | Percent of class represented by amount in Row (11)<br>**4.6%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Common Stock, $1 par value per share

**(b) Name of Issuer:**
PITNEY BOWES INC /DE/

**(c) Address of Issuer's Principal Executive Offices:**
PITNEY BOWES INC, 27 WATERVIEW DRIVE, SHELTON, CT, 06484

**Item 4. Purpose of Transaction**

Item 4 is hereby amended to add the following:

Hestia LLC plans to distribute approximately 1.5 million Shares to limited partners (the "Limited Partner Transfer"). This includes a distribution of approximately 1.1 million Shares to Mr. Wolf.

Hestia LLC's decision to undertake the Limited Partner Transfer and the sales reported herein was made, in part, to align Hestia LLC's portfolio with Hestia LLC's current views on position diversification and sizing.

Given his confidence in the Issuer's long-term value creation prospects, Mr. Wolf intends to retain a sizable personal stake in the Issuer.

**Item 5. Interest in Securities of the Issuer**

**(a)**
Item 5(a) is hereby amended and restated to read as follows:

The aggregate percentage of Shares reported owned by each person named herein is based upon 135,441,425 Shares outstanding as of April 24, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 6, 2026, and, with respect to Mr. Wolf, 229,709 Shares underlying certain Options that are exercisable within 60 days from the date hereof.

A. Hestia Capital
As of the date hereof, Hestia Capital directly owned 5,638,798 Shares.

Percentage: Approximately 4.2%

B. Hestia Partners GP
As the general partner of Hestia Capital, Hestia Partners GP may be deemed the beneficial owner of the 5,638,798 Shares directly owned by Hestia Capital.

Percentage: Approximately 4.2%

C. Hestia LLC
As of the date hereof, 363,853 Shares were held in SMAs. As the investment manager of each of Hestia Capital and the SMAs, Hestia LLC may be deemed the beneficial owner of the (i) 5,638,798 Shares directly owned by Hestia Capital and (ii) 363,853 Shares held in the SMAs.

Percentage: Approximately 4.4%

D. Kurtis J. Wolf
As of the date hereof, Mr. Wolf beneficially owned 294,404 Shares, including (i) 64,695 Shares owned directly and (ii) 229,709 Shares underlying certain of the Options that will vest within 60 days from the date hereof. In addition, as the managing member of each of Hestia Partners GP and Hestia LLC, Mr. Wolf may be deemed the beneficial owner of the (i) 5,638,798 Shares directly owned by Hestia Capital and (ii) 363,853 Shares held in SMAs.

Percentage: Approximately 4.6%

The filing of this Schedule 13D shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any securities of the Issuer that he or it does not directly own. Each of the Reporting Persons specifically disclaims beneficial ownership of the securities reported herein that he or it does not directly own.

**(b)**
Item 5(b) is hereby amended and restated to read as follows:

A. Hestia Capital
1. Sole power to vote or direct vote: 0
2. Shared power to vote or direct vote: 5,638,798
3. Sole power to dispose or direct the disposition: 0
4. Shared power to dispose or direct the disposition: 5,638,798

B. Hestia Partners GP
1. Sole power to vote or direct vote: 0
2. Shared power to vote or direct vote: 5,638,798
3. Sole power to dispose or direct the disposition: 0
4. Shared power to dispose or direct the disposition: 5,638,798

C. Hestia LLC
1. Sole power to vote or direct vote: 0
2. Shared power to vote or direct vote: 6,002,651
3. Sole power to dispose or direct the disposition: 0
4. Shared power to dispose or direct the disposition: 6,002,651

D. Kurtis J. Wolf
1. Sole power to vote or direct vote: 294,404
2. Shared power to vote or direct vote: 6,002,651
3. Sole power to dispose or direct the disposition: 294,404
4. Shared power to dispose or direct the disposition: 6,002,651

**(c)**
Item 5(c) is hereby amended and restated to read as follows:

The transactions in the Shares by the Reporting Persons and the SMAs during the past 60 days, which were executed pursuant to a Rule 10b5-1 Trading Plan, are set forth on Exhibit 1 and are incorporated herein by reference.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** HESTIA CAPITAL PARTNERS LP

**Signature:** /s/ Kurtis J. Wolf

**Name/Title:** Kurtis J. Wolf, Managing Member of Hestia Capital Management, LLC, its Investment Manager

**Date:** 05/11/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** HESTIA CAPITAL PARTNERS GP, LLC

**Signature:** /s/ Kurtis J. Wolf

**Name/Title:** Kurtis J. Wolf, Managing Member

**Date:** 05/11/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Hestia Capital Management, LLC

**Signature:** /s/ Kurtis J. Wolf

**Name/Title:** Kurtis J. Wolf, Managing Member

**Date:** 05/11/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Wolf Kurt James

**Signature:** /s/ Kurtis J. Wolf

**Name/Title:** Kurtis J. Wolf

**Date:** 05/11/2026