Director Stock Ownership Guidelines

Director Stock Ownership Guidelines

Within five years of becoming a Director of Pitney Bowes, each Board member is expected to accumulate Pitney Bowes common stock with a market value of at least five times the annual base retainer fee paid for service as a Pitney Bowes Director. A Director may not sell shares of Pitney Bowes common stock if: a) this requirement is not met, or b) the sale of shares would mean that the Director would no longer meet the requirement.

Transactions in Pitney Bowes Securities by Directors and Executive Officers