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Insider Trading Arrangements

3 Months Ended

9 Months Ended

Sep. 30, 2024

During the three months ended September 30, 2024, certain directors and officers of the Company adopted a "Rule 10b5-1 trading arrangement," as defined in Item 408(a) of Regulation S-K, as set forth in the table below:

Action

Date

Trading Arrangement

Total Shares to be Sold(3)

Expiration Date

Rule 10b5-1(1)

Non-Rule 10b5-1(2)

Deborah Pfeiffer (Executive Vice President and President, Presort Services)

Adopt

August 20, 2024

87,668

November 30, 2025

Kurt Wolf (Director)

Adopt

August 23, 2024

12,500,000(4)

May 25, 2025

Lauren Freeman-Bosworth (Executive Vice-President, General Counsel and Corporate Secretary)

Adopt

August 30, 2024

51,000(5)

November 30, 2025

(1) Intended to satisfy the affirmative defense of Rule 10b5-1(c).

(2) Not intended to satisfy the affirmative defense of Rule 10b5-1(c).

(3) Represents the maximum number of shares that may be sold pursuant to the 10b5-1 trading arrangement. The actual number of shares sold will be dependent on the terms of, and the satisfaction of the conditions as set forth in, the written plan.

(4) Shares are held directly by Hestia Capital Partners, LP (“Hestia Capital”), Helios I, LP (“Helios”) and separately managed accounts. Mr. Wolf is the managing member of (a) Hestia Partners GP, the general partner of Hestia Capital and Helios, and (b) Hestia LLC, the investment manager of Hestia Capital, Helios, and the separately managed accounts. The 10b5-1 trading arrangement provides that the number of shares to be sold pursuant thereto is dependent on the satisfaction of certain conditions set forth in the written plan, including escalating price targets and Rule 144 volume limitations, among other parameters.

(5) The Rule 10b5-1 trading arrangement includes the sale of shares to be received upon future vesting of certain outstanding equity awards, net of any shares withheld by us to satisfy applicable taxes. The number of shares to be withheld, and thus the exact number of shares to be sold pursuant to Ms. Freeman-Bosworth’s Rule 10b5-1 trading arrangement, can only be determined upon the occurrence of the future vesting events. For purposes of this disclosure, we have reported the gross number of shares to be received upon the future vesting of such equity awards, before subtracting any shares to be withheld by us to satisfy applicable taxes in connection with such future vesting events.

Non-Rule 10b5-1 Arrangement Adopted

false

Rule 10b5-1 Arrangement Terminated

false

Non-Rule 10b5-1 Arrangement Terminated

false

Deborah Pfeiffer [Member]

Trading Arrangements, by Individual

Name

Deborah Pfeiffer

Title

Executive Vice President and President, Presort Services