secwatch.observer — SEC 8-K summary
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Issuer:     PITNEY BOWES INC /DE/ (PBI)
CIK:        0000078814
Form:       8-K
Filed at:   2024-05-23T23:59:59+00:00
Accession:  0000078814-24-000037
Event type: leadership
Sentiment:  neutral
Materiality: 0.70
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Pitney Bowes appoints Lance Rosenzweig as Interim CEO; former CEO Dies receives $2.96M separation
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- Jason Dies' employment as Interim CEO ended May 21, 2024, not due to disagreement; he receives $2.3625M separation, $600K additional payment, and continued equity vesting.
- Lance Rosenzweig appointed Interim CEO effective May 22, 2024; base salary $95K annualized, LTIP target $4M (40% RSUs, 60% PSUs), no severance or cash bonus.
- Rosenzweig, age 61, former CEO of Support.com and Startek, joined Board in April 2024; will continue as Board member during tenure.
- Dies retains performance-based RSUs (97,413 from Feb 2023, 38,205 from Oct 2023) and cash incentive units (644,000 and 426,666) that continue to vest.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/78814/000007881424000037/0000078814-24-000037-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/78814/000007881424000037/pbi-20240521.htm
  HTML page:      https://secwatch.observer/filing/0000078814-24-000037

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer