---
schema_version: "secwatch.filing_event.v1"
accession: "0000078814-24-000043"
form_type: "8-K"
ticker: "PBI"
cik: "0000078814"
company_name: "PITNEY BOWES INC /DE/"
filed_at: "2024-07-02T23:59:59+00:00"
generated_at: "2026-05-31T23:51:53.176656+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Pitney Bowes approves $25M restructuring plan; Global Ecommerce president departs

## Summary
- Approved 2024 Plan to reduce costs with ~$25M pre-tax charge in Q2 2024, mainly cash severance.
- Workforce reductions and other actions; plan expected to be completed by end of Q1 2025.
- Gregg Zegras, EVP and President of Global Ecommerce, departs effective June 30, 2024.
- Separation agreement offers $856,000 cash (52 weeks salary), pro-rata bonus, and equity treatment.
- 2023 RSUs (76,103 units) vest fully; 2024 PSUs (187,970 units) continue vesting on prorated basis.

## SEC filing metadata
- accession: 0000078814-24-000043
- form_type: 8-K
- ticker: PBI
- cik: 0000078814
- company_name: PITNEY BOWES INC /DE/
- filed_at: 2024-07-02T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.05, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/78814/000007881424000043/0000078814-24-000043-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/78814/000007881424000043/pbi-20240626.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000078814-24-000043
- JSON: https://secwatch.observer/filing/0000078814-24-000043.json
- Plain text: https://secwatch.observer/filing/0000078814-24-000043.txt

## Key facts
- Executive change
  Gregg Zegras departed as Executive Vice President and President, Global Ecommerce at PITNEY BOWES INC /DE/.
  - Action: separated
  - Role: Executive Vice President and President, Global Ecommerce
  source text: The employment of Gregg Zegras as Executive Vice President and President, Global Ecommerce at the Company ended, effective June 30, 2024
  evidence_url: https://www.sec.gov/Archives/edgar/data/78814/000007881424000043/0000078814-24-000043-index.htm
- Restructurings & Charges
  PITNEY BOWES INC /DE/ announced a restructuring with charges of approximately $25 million.
  - Type: restructuring
  - Charge: approximately $25 million
  source text: reductions and other actions (the “2024 Plan”). The Company currently expects to incur aggregate one-time, pre-tax charges associated with the 2024 Plan of approximately $25 million, primarily related to cash severance costs, to be recorded in the second quarter of 2024. We anticipate incurring additional charges in future periods related to further
  evidence_url: https://www.sec.gov/Archives/edgar/data/78814/000007881424000043/0000078814-24-000043-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.