Pitney Bowes Appoints New CFO, Details Compensation
Ticker: PBI-PB · Form: 8-K · Filed: Mar 19, 2024 · CIK: 78814
| Field | Detail |
|---|---|
| Company | Pitney Bowes Inc /De/ (PBI-PB) |
| Form Type | 8-K |
| Filed Date | Mar 19, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $1, $30,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, compensation, cfo
Related Tickers: PBI
TL;DR
Pitney Bowes names Jason Kaltenbach new CFO, starting March 18th. He gets $475k salary + bonus + $1.5M stock.
AI Summary
Pitney Bowes Inc. announced on March 13, 2024, the appointment of Jason D. Kaltenbach as Chief Financial Officer, effective March 18, 2024. He will receive an annual base salary of $475,000 and a target annual bonus of 100% of his base salary. Kaltenbach will also receive a restricted stock unit award valued at $1,500,000, vesting over three years.
Why It Matters
The appointment of a new CFO is a significant leadership change that could signal shifts in financial strategy and operational focus for Pitney Bowes.
Risk Assessment
Risk Level: medium — Changes in key financial leadership can introduce uncertainty regarding future financial strategies and performance.
Key Numbers
- $475,000 — CFO Base Salary (Annual compensation for Jason D. Kaltenbach)
- 100% — CFO Bonus Target (Potential annual bonus for Jason D. Kaltenbach)
- $1,500,000 — CFO Stock Award (Restricted stock unit award value for Jason D. Kaltenbach)
Key Players & Entities
- Pitney Bowes Inc. (company) — Registrant
- Jason D. Kaltenbach (person) — Appointed Chief Financial Officer
- $475,000 (dollar_amount) — Annual base salary for new CFO
- 100% (dollar_amount) — Target annual bonus percentage for new CFO
- $1,500,000 (dollar_amount) — Value of restricted stock unit award for new CFO
- March 18, 2024 (date) — Effective date for new CFO
- March 13, 2024 (date) — Date of report
FAQ
Who has been appointed as the new Chief Financial Officer of Pitney Bowes Inc.?
Jason D. Kaltenbach has been appointed as the new Chief Financial Officer of Pitney Bowes Inc.
When is the effective date for Jason D. Kaltenbach's appointment as CFO?
Jason D. Kaltenbach's appointment as CFO is effective March 18, 2024.
What is the annual base salary for the new CFO?
The annual base salary for Jason D. Kaltenbach is $475,000.
What is the target annual bonus for the new CFO?
The target annual bonus for Jason D. Kaltenbach is 100% of his base salary.
What is the value of the restricted stock unit award granted to the new CFO?
Jason D. Kaltenbach will receive a restricted stock unit award valued at $1,500,000.
Filing Stats: 930 words · 4 min read · ~3 pages · Grade level 10.3 · Accepted 2024-03-19 08:59:48
Key Financial Figures
- $1 — ange on Which Registered Common Stock, $1 par value per share PBI New York Stock
- $30,000 — will receive a monthly cash stipend of $30,000. No arrangement or understanding exist
Filing Documents
- pbi-20240313.htm (8-K) — 32KB
- jw_interimcfoletterx031524.htm (EX-10.1) — 8KB
- ex99-1pressrelease.htm (EX-99.1) — 14KB
- image_0.jpg (GRAPHIC) — 13KB
- 0000078814-24-000011.txt ( ) — 238KB
- pbi-20240313.xsd (EX-101.SCH) — 3KB
- pbi-20240313_def.xml (EX-101.DEF) — 15KB
- pbi-20240313_lab.xml (EX-101.LAB) — 27KB
- pbi-20240313_pre.xml (EX-101.PRE) — 16KB
- pbi-20240313_htm.xml (XML) — 4KB
01 FINANCIAL STATEMENTS AND EXHIBITS
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS (d) Exhibits 10.1 Letter Agreement, dated March 15, 2024, between the Company and John Witek 99.1 Press release of Pitney Bowes Inc., dated March 19, 2024 104 The cover page of Pitney Bowes Inc.'s Current Report on Form 8-K, formatted in Inline XBRL.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Pitney Bowes Inc. By: /s/ Jason C. Dies Name: Jason C. Dies Date: March 19, 2024 Title: Interim Chief Executive Officer