Sec Form 4 Filing - Christoph Stehmann @ PITNEY BOWES INC /DE/ - 2017-02-06

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

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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Christoph Stehmann 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) Exec VP, Enterprise Sol Group (Last) (First) (Middle) 3001 SUMMER STREET 3. Date of Earliest Transaction (MM/DD/YY) 02/06/2017 (Street) STAMFORD, CT06926 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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) Code V Amount (A) or (D) Price Common Stock 02/07/2017 M 3,461 A $ 0 7,538.8851 D Common Stock 02/07/2017 F 1,109 D $ 13.17 6,429.8851 D

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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 7. Title and Amount of Underlying Securities (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 of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Restricted Stock Units ( 1 ) 02/06/2017 A 7,599 ( 2 ) ( 2 ) Common Stock 7,599 $ 13.16 17,050 D Performance Stock Units ( 3 ) 02/06/2017 A 22,796 ( 4 ) ( 4 ) Common Stock 22,796 $ 13.16 48,080 D Stock Option ( 5 ) 02/06/2017 A 50,000 02/06/2018 02/06/2027 Common Stock 50,000 $ 0 102,291 D Restricted Stock Units $ 0 02/07/2017 M 300 02/07/2017( 6 ) ( 6 ) Common Stock 300 $ 0 0 D Restricted Stock Units $ 0 02/07/2017 M 644 02/07/2017( 7 ) ( 7 ) Common Stock 644 $ 0 0 D Performance Stock Units $ 0 02/07/2017 M 2,517 02/07/2017( 8 ) ( 8 ) Common Stock 2,517 $ 0 0 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Christoph Stehmann 3001 SUMMER STREET STAMFORD, CT06926 Exec VP, Enterprise Sol Group Signatures /s/ Laurie Bellocchio - POA for Christoph Stehmann 02/08/2017 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Each unit represents a contingent right to receive one share of Pitney Bowes common stock. ( 2 )Each unit represents a contingent right to receive one share of Pitney Bowes common stock that will vest over a three year period on the second Tuesday in February. ( 3 )Each performance stock unit represents a contingent right to receive Pitney Bowes common stock based upon pre-determined performance factors. ( 4 )The performance stock units (PSUs) represent a contingent right to receive Pitney Bowes common stock with a 3 year cliff vesting. The shares that will vest are based on the pre-established performance standards set by the Board upon making each award, and could result in more of less shares being issued at the time of the vesting due to the pre-established performance standards. Depending on financial performance, the resulting number of shares released can range from zero to a maximum of 200% of grant. ( 5 )The grant price for the stock option was calculated at 100% of the closing price on February 6, 2017 which was $13.16. ( 6 )The final vesting of the four traunches vested. ( 7 )The final vesting of the three traunches vested. ( 8 )Vesting of performance awards due to the pre-established performance standards being met.

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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