Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Monahan Michael
  2. Issuer Name and Ticker or Trading Symbol
PITNEY BOWES INC /DE/ [PBI]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
EVP Finance and CFO
(Last)
(First)
(Middle)
3001 SUMMER STREET
3. Date of Earliest Transaction (Month/Day/Year)
02/03/2015
(Street)

STAMFORD, CT 06926
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 02/03/2015   M   3,116 A $ 0 67,648.1226 D  
Common Stock 02/03/2015   F   1,516 D $ 22.57 66,132.1226 D  
Common Stock 02/03/2015   M   4,396 A $ 0 70,528.1226 D  
Common Stock 02/03/2015   F   1,533 D $ 22.57 68,995.1226 D  
Common Stock 02/03/2015   M   9,387 A $ 0 78,382.1226 D  
Common Stock 02/03/2015   F   3,197 D $ 22.57 75,185.1226 D  
Common Stock 02/03/2015   M   5,185 A $ 0 80,370.1226 D  
Common Stock 02/03/2015   F   1,766 D $ 22.57 78,604.1226 D  
Common Stock 02/03/2015   M   25,586 A $ 0 104,190.1226 D  
Common Stock 02/03/2015   F   8,837 D $ 22.57 95,353.1226 D  
Common Stock               9,865.3027 I By 401(k)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Restricted Stock Unit $ 0 02/03/2015   M     3,116 02/03/2015(1)   (1) Common Stock 3,116 $ 0 0 D  
Restricted Stock Unit $ 0 02/03/2015   M     4,396 02/03/2015(2)   (2) Common Stock 4,396 $ 0 4,397 D  
Restricted Stock Unit $ 0 02/03/2015   M     9,387 02/03/2015(3)   (3) Common Stock 9,387 $ 0 18,772 D  
Restricted Stock Unit $ 0 02/03/2015   M     5,185 02/03/2015(4)   (4) Common Stock 5,185 $ 0 10,371 D  
Market Stock Unit $ 0 02/03/2015   M     25,586 02/03/2015(5)   (5) Common Stock 25,586 $ 0 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Monahan Michael
3001 SUMMER STREET
STAMFORD, CT 06926
      EVP Finance and CFO  

Signatures

 Laurie Bellocchio - POA for Michael Monahan   02/05/2015
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The last of four vesting traunches.
(2) The third of four vesting traunches vested, leaving 4,397 shares to vest on 2/2/2016.
(3) The second of four vesting traunches vested, leaving 9,386 shares to vest on 2/2/2016 and 9,386 to vest on 2/7/2017.
(4) The first of three vesting traunches vested, leaving 5,185 shares to vest on 2/2/2016 and 5,186 to vest on 2/7/2017.
(5) The MSUs were granted on 2/3/2012 and have a three year cliff vesting.

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