SEC FORM 4

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

TORSONE JOHNNA G

(Last)

(First)

(Middle)

ONE ELMCROFT ROAD

(Street)

STAMFORD

06926

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
PITNEY BOWES INC /DE/ [ PBI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	EVP/Chief HR Officer

3. Date of Earliest Transaction (Month/Day/Year)
02/04/2014

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	02/04/2014		M		1,556	A	$0	33,960	D
Common Stock	02/04/2014		F		524	D	$24.74	33,436	D
Common Stock	02/04/2014		M		4,116	A	$0	37,552	D
Common Stock	02/04/2014		F		1,564	D	$24.74	35,988	D
Common Stock	02/04/2014		M		1,928	A	$0	37,916	D
Common Stock	02/04/2014		F		640	D	$24.74	37,276	D
Common Stock	02/04/2014		M		1,319	A	$0	38,595	D
Common Stock	02/04/2014		F		450	D	$24.74	38,145	D
Common Stock								890.0662	I	By 401(k)plan
Common Stock								7,000	I	Owned by Spouse

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Unit	$0	02/04/2014		M			1,556	02/04/2014	02/04/2014	Common Stock	1,556	$0	0	D
Restricted Stock Unit	$0	02/04/2014		M			1,319	02/04/2014⁽¹⁾	02/03/2015	Common Stock	1,319	$0	1,318	D
Restricted Stock Unit	$0	02/04/2014		M			1,928	02/04/2014⁽²⁾	02/02/2016	Common Stock	1,928	$0	3,855	D
Restricted Stock Unit	$0	02/04/2014		M			4,116	02/04/2014⁽³⁾	02/07/2017	Common Stock	4,116	$0	12,346	D

Explanation of Responses:

1. The third of four vesting traunches vested, leaving 1,318 shares yet to vest on 2/3/2015.

2. The second of four vesting traunches vested, leaving 1,927 shares to vest on 2/3/2015 and 1,928 to vest on 2/2/2016.

3. The first of four vesting traunches vested, leaving 4,115 shares to vest on 2/3/2015, 4,116 to vest on 2/2/2016 and 4,115 to vest on 2/7/2017.

	Richard Martorana - POA for Johnna Torsone	02/05/2014
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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