(PBI)

Role: President & CEO, Director
Signature: /s/ Elisabeth Weinberg, as attorney-in-fact for Kurt James Wolf
Issuer symbol: PBI
Transactions as of: 23 Feb 2026
Net transactions value: -$1,545,750
Form type: 4
Filing time: 25 Feb 2026, 12:35:11 UTC
Previous filing: 24 Nov 2025
Next filing: 13 Mar 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Wolf Kurt James	President & CEO, Director	27 WATERVIEW DRIVE, SHELTON	/s/ Elisabeth Weinberg, as attorney-in-fact for Kurt James Wolf	24 Feb 2026	0001693906

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PBI	Common Stock	Sale	$1,406,632	-136,500	-1.7%	$10.30	7,734,668	23 Feb 2026	By Hestia Capital Partners, LP	F1, F2, F3
transaction	PBI	Common Stock	Sale	$139,118	-13,500	-2.3%	$10.30	571,137	23 Feb 2026	By Separately Managed Accounts	F1, F2, F3
holding	PBI	Common Stock						53,789	23 Feb 2026	Direct

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id	Content
F1	The stock option exercises and broker-assisted sales transactions reported were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 10, 2025 during the Company's open window period (the "Trading Plan").
F2	The price reported here is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.245 to $10.44, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.
F3	The reporting person is the managing member of (a) Hestia Partners GP, the general partner of Hestia Capital Partners, LP (Hestia Capital), and (b) Hestia LLC, the investment manager of Hestia Capital and certain separately managed accounts (the SMAs). As the managing member of each of Hestia Partners GP and Hestia LLC, the reporting person may be deemed the beneficial owner of the shares directly owned by Hestia Capital and shares held in the SMAs. The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein