Pitney Bowes Announces Board and Executive Changes
Ticker: PBI-PB · Form: 8-K · Filed: Oct 29, 2024 · CIK: 78814
| Field | Detail |
|---|---|
| Company | Pitney Bowes Inc /De/ (PBI-PB) |
| Form Type | 8-K |
| Filed Date | Oct 29, 2024 |
| Risk Level | medium |
| Pages | 10 |
| Reading Time | 11 min |
| Key Dollar Amounts | $1, $500,000, $9, $9.01, $11 |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, compensation
Related Tickers: PBX
TL;DR
PBX board shakeup and comp changes announced 10/23.
AI Summary
Pitney Bowes Inc. announced on October 23, 2024, changes in its board of directors and executive compensation. Specifically, the company reported the departure of a director and the appointment of a new officer, along with updates to compensatory arrangements for certain officers.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in leadership and compensation can introduce uncertainty regarding future strategy and financial performance.
Key Players & Entities
- Pitney Bowes Inc. (company) — Registrant
- October 23, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of incorporation
- 3001 Summer Street Stamford, Connecticut, 06926 (address) — Principal Executive Offices
FAQ
Who departed from the board of directors?
The filing indicates the departure of a director, but the specific name is not provided in the provided text.
Was a new officer appointed?
Yes, the filing states the appointment of a new officer.
What is the exact date of the reported event?
The date of the earliest event reported is October 23, 2024.
What is Pitney Bowes Inc.'s state of incorporation?
Pitney Bowes Inc. is incorporated in Delaware.
Where are Pitney Bowes Inc.'s principal executive offices located?
The principal executive offices are located at 3001 Summer Street Stamford, Connecticut, 06926.
Filing Stats: 2,869 words · 11 min read · ~10 pages · Grade level 10.8 · Accepted 2024-10-29 16:43:55
Key Financial Figures
- $1 — ange on which registered Common Stock, $1 par value per share PBI New York St
- $500,000 — owing: (a) an annualized base salary of $500,000, less applicable withholdings and other
- $9 — e Start Date, with an exercise price of $9 and exercisable for the 18 month period
- $9.01 — f the Company's common stock is between $9.01 and $11, an additional 180,000 performa
- $11 — any's common stock is between $9.01 and $11, an additional 180,000 performance-base
- $30,000 — ement of reasonable legal fees of up to $30,000 in connection with the negotiation of t
Filing Documents
- d895274d8k.htm (8-K) — 48KB
- d895274dex101.htm (EX-10.1) — 22KB
- d895274dex171.htm (EX-17.1) — 8KB
- d895274dex991.htm (EX-99.1) — 14KB
- 0001193125-24-246601.txt ( ) — 263KB
- pbi-20241023.xsd (EX-101.SCH) — 4KB
- pbi-20241023_def.xml (EX-101.DEF) — 13KB
- pbi-20241023_lab.xml (EX-101.LAB) — 21KB
- pbi-20241023_pre.xml (EX-101.PRE) — 14KB
- d895274d8k_htm.xml (XML) — 5KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Employment Letter between Lance Rosenzweig and Pitney Bowes, Inc. effective October 25, 2024. 17.1 Resignation Letter of Jill Sutton, dated October 23, 2024. 99.1 Press Release dated October 29, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Pitney Bowes Inc. Dated: October 29, 2024 By: /s/ Lauren Freeman-Bosworth Name: Lauren Freeman-Bosworth Title: Executive Vice President, General Counsel and Corporate Secretary