# EDGAR Filing Document

**Accession Number:** 0001456565
**File Stem:** 0000921895-25-002921
**Filing Date:** 2025-11
**Character Count:** 19824
**Document Hash:** ac2feebb3c6a799251635702f1f8e499
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000921895-25-002921.hdr.sgml**: 20251107

**ACCESSION NUMBER**: 0000921895-25-002921

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

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20251107

**DATE AS OF CHANGE**: 20251107

**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:** 251463965

**BUSINESS ADDRESS:**
- **STREET 1:** PITNEY BOWES INC
- **STREET 2:** 3001 SUMMER STREET
- **CITY:** STAMFORD
- **STATE:** CT
- **ZIP:** 06926-0700
- **BUSINESS PHONE:** 203-356-5000

**MAIL ADDRESS:**
- **STREET 1:** 3001 SUMMER STREET
- **CITY:** STAMFORD
- **STATE:** CT
- **ZIP:** 06926-0700
**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

## Exhibit 99.1

Exhibit 99.1

**<u>JOINT FILING AGREEMENT</u>**

In accordance with Rule 13d-1(k)(1)(iii) under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them of a Statement on Schedule 13D (including additional amendments thereto) with respect to the Common Stock, par value $1.00 per share, of Pitney Bowes Inc., a Delaware corporation. This Joint Filing Agreement shall be filed as an Exhibit to such Statement.

Dated: November 7, 2025

---

| | |
|:---|:---|
| HESTIA CAPITAL PARTNERS LP | HESTIA CAPITAL PARTNERS LP |
| By: | /s/ Kurtis J. Wolf |
|  | Kurtis J. Wolf, Managing Member of Hestia Capital Management, LLC, its Investment Manager |
| Date: | 11/07/2025 |

---

---

| | |
|:---|:---|
| HESTIA CAPITAL PARTNERS GP, LLC | HESTIA CAPITAL PARTNERS GP, LLC |
| By: | /s/ Kurtis J. Wolf |
|  | Kurtis J. Wolf, Managing Member |
| Date: | 11/07/2025 |

---

---

| | |
|:---|:---|
| Hestia Capital Management, LLC | Hestia Capital Management, LLC |
| By: | /s/ Kurtis J. Wolf |
|  | Kurtis J. Wolf, Managing Member |
| Date: | 11/07/2025 |

---

---

| | |
|:---|:---|
| Wolf Kurt James | Wolf Kurt James |
| By: | /s/ Kurtis J. Wolf |
|  | Kurtis J. Wolf |
| Date: | 11/07/2025 |

---

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

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 11)**

**PITNEY BOWES INC /DE/**

*(Name of Issuer)*

**Common Stock, par value $1.00 per share**

*(Title of Class of Securities)*

**724479100**

*(CUSIP Number)*

**KURTIS J. WOLF**<br>HESTIA CAPITAL MANAGEMENT, LLC<br>175 Brickyard Road, Suite 200<br>Adams Township PA 16046<br>724-687-7842

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

**11/06/2025**

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

| **CUSIP No.** | **724479100** |

---

| | | | |
|:--|:--|:--|:--|
| 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>**7871168.00** |
| 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>**7871168.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**7871168.00** | Aggregate amount beneficially owned by each reporting person<br>**7871168.00** | |
| 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>**4.9%** | Percent of class represented by amount in Row (11)<br>**4.9%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

| **CUSIP No.** | **724479100** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**HELIOS I, LP** | Name of reporting person<br>**HELIOS I, 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>**—** | Source of funds (See Instructions)<br>**—** | |
| 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>**0.00** |
| 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>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**0.00** | Aggregate amount beneficially owned by each reporting person<br>**0.00** | |
| 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>**0%** | Percent of class represented by amount in Row (11)<br>**0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

| **CUSIP No.** | **724479100** |

---

| | | | |
|:--|:--|:--|:--|
| 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>**7871168.00** |
| 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>**7871168.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**7871168.00** | Aggregate amount beneficially owned by each reporting person<br>**7871168.00** | |
| 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>**4.9%** | Percent of class represented by amount in Row (11)<br>**4.9%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

| **CUSIP No.** | **724479100** |

---

| | | | |
|:--|:--|:--|:--|
| 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>**8455805.00** |
| 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>**8455805.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**8455805.00** | Aggregate amount beneficially owned by each reporting person<br>**8455805.00** | |
| 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>**5.3%** | Percent of class represented by amount in Row (11)<br>**5.3%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

| **CUSIP No.** | **724479100** |

---

| | | | |
|:--|:--|:--|:--|
| 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>**35406.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**8455805.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**35406.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**8455805.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**8491211.00** | Aggregate amount beneficially owned by each reporting person<br>**8491211.00** | |
| 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>**5.3%** | Percent of class represented by amount in Row (11)<br>**5.3%** | |
| 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, par value $1.00 per share

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

**(c) Address of Issuer's Principal Executive Offices:**
PITNEY BOWES INC, 3001 SUMMER STREET, STAMFORD, CT, 06926-0700

**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 160,918,164 shares outstanding as of October 20, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on October 30, 2025.

A. Hestia Capital
As of the date hereof, Hestia Capital directly owned 7,871,168 Shares.

Percentage: Approximately 4.9%

B. Helios
As of the date hereof, Helios directly owned 0 Shares.

Percentage: 0%

C. Hestia Partners GP
As the general partner of each of Hestia Capital and Helios, Hestia Partners GP may be deemed the beneficial owner of the 7,871,168 Shares directly owned by Hestia Capital

Percentage: Approximately 4.9%

D. Hestia LLC
As of the date hereof, 584,637 Shares were held in SMAs. As the investment manager of each of Hestia Capital, Helios and the SMAs, Hestia LLC may be deemed the beneficial owner of the (i) 7,871,168 Shares directly owned by Hestia Capital and (ii) 584,637 Shares held in the SMAs.

Percentage: Approximately 5.3%

E. Kurtis J. Wolf
As of the date hereof, Mr. Wolf directly owned 35,406 Shares. 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) 7,871,168 Shares directly owned by Hestia Capital and (ii) 584,637 Shares held in SMAs.

Percentage: Approximately 5.3%

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: 7,871,168
3. Sole power to dispose or direct the disposition: 0
4. Shared power to dispose or direct the disposition: 7,871,168

B. Helios
1. Sole power to vote or direct vote: 0
2. Shared power to vote or direct vote: 0
3. Sole power to dispose or direct the disposition: 0
4. Shared power to dispose or direct the disposition: 0

C. Hestia Partners GP
1. Sole power to vote or direct vote: 0
2. Shared power to vote or direct vote: 7,871,168
3. Sole power to dispose or direct the disposition: 0
4. Shared power to dispose or direct the disposition: 7,871,168

D. Hestia LLC
1. Sole power to vote or direct vote: 0
2. Shared power to vote or direct vote: 8,455,805
3. Sole power to dispose or direct the disposition: 0
4. Shared power to dispose or direct the disposition: 8,455,805

E. Kurtis J. Wolf
1. Sole power to vote or direct vote: 35,406
2. Shared power to vote or direct vote: 8,455,805
3. Sole power to dispose or direct the disposition: 35,406
4. Shared power to dispose or direct the disposition: 8,455,805

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

On September 11, 2025, and November 6, 2025, Helios made an in-kind distribution to certain of its limited partners of 291,104 Shares and 3,018,521 Shares, respectively, for no consideration in order to meet a redemption request. On November 6, 2025, Helios transferred 3,060,251 Shares to Hestia Capital for no consideration.

Other than as set forth herein, none of the Reporting Persons has entered into any transactions in the securities of the Issuer during the past 60 days.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

Item 6 is hereby amended to add the following:

Helios no longer beneficially owns any Shares and shall cease to be a Reporting Person immediately upon the filing of this Amendment No. 11 to the Schedule 13D. The remaining Reporting Persons will continue filing as a group statements on Schedule 13D with respect to their beneficial ownership of securities of the Issuer to the extent required by applicable law. On November 7, 2025, the remaining Reporting Persons following the filing of this Amendment No. 11 to the Schedule 13D entered into a Joint Filing Agreement in which they agreed to the joint filing on behalf of each of them of statements on Schedule 13D with respect to the securities of the Issuer to the extent required by applicable law. The Joint Filing Agreement is attached hereto as Exhibit 99.1 and is 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:** 11/07/2025

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:** HELIOS I, LP

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

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

**Date:** 11/07/2025

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:** 11/07/2025

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:** 11/07/2025

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:** 11/07/2025