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Pitney Bowes (PBI)
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PBI » Topics » Executives should own Pitney Bowes stock to align their interests with Pitney Bowes stockholders

This excerpt taken from the PBI DEF 14A filed Mar 26, 2009.

Executives should own Pitney Bowes stock to align their interests with Pitney Bowes stockholders

Stock ownership and equity-related compensation arrangements are considered key elements to focus executives on increasing stockholder value. Therefore, we aim to develop and maintain stock programs that encourage each executive to act like a business owner. A substantial portion of an executive’s long-term incentive compensation is awarded in the form of stock compensation, which along with the CIUs, serves as the primary vehicle for aligning the interests of executives with long-term stockholders. Named executive officers have access to various vehicles to assist in building their ownership over time, including:

 

 

1)

the ability to elect investment of company matching contributions in the 401(k) Plan and the 401(k) Restoration Plan in company stock;

 

 

2)

the ability to elect company stock as an investment option in the company’s Deferred Incentive Savings Plan;

 

 

3)

retention of shares acquired upon exercise of stock options or vesting of restricted stock; and

 

 

4)

participation in the Dividend Reinvestment Plan (which is available to all of our stockholders).

We believe it is important that the company maintain a stock ownership policy that encourages executives to own substantial amounts of company stock. As a result, the company maintains the Executive Stock Ownership Policy that is described on page 27.

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