secwatch.observer — SEC 8-K summary
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Issuer:     PITNEY BOWES INC /DE/ (PBI)
CIK:        0000078814
Form:       8-K
Filed at:   2024-04-09T23:59:59+00:00
Accession:  0001140361-24-018746
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Pitney Bowes grants Interim CEO Jason Dies $600k retention payment, enhanced severance
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- Base salary $875k unchanged; monthly stipend $60k; target bonus 80% of base salary.
- One-time cash payment of $600k payable at 5-month anniversary or earlier upon termination without cause or for good reason.
- Severance on qualifying termination: 1.5x base salary plus 1.5x target bonus as lump sum, plus 18 months COBRA.
- Early retirement vesting accelerated by one year under applicable benefit plans.
- Board adopted new Indemnification Agreements for all directors and executive officers, covering expenses and liabilities.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/78814/000114036124018746/0001140361-24-018746-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/78814/000114036124018746/ny20020304x5_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-24-018746

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