<SEC-DOCUMENT>0000921895-26-001219.txt : 20260511
<SEC-HEADER>0000921895-26-001219.hdr.sgml : 20260511
<ACCEPTANCE-DATETIME>20260511190021
ACCESSION NUMBER:		0000921895-26-001219
CONFORMED SUBMISSION TYPE:	SCHEDULE 13D/A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20260511
DATE AS OF CHANGE:		20260511

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PITNEY BOWES INC /DE/
		CENTRAL INDEX KEY:			0000078814
		STANDARD INDUSTRIAL CLASSIFICATION:	OFFICE MACHINES, NEC [3579]
		ORGANIZATION NAME:           	06 Technology
		EIN:				060495050
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-30153
		FILM NUMBER:		26965024

	BUSINESS ADDRESS:	
		STREET 1:		PITNEY BOWES INC
		STREET 2:		27 WATERVIEW DRIVE
		CITY:			SHELTON
		STATE:			CT
		ZIP:			06484
		BUSINESS PHONE:		203-922-4000

	MAIL ADDRESS:	
		STREET 1:		27 WATERVIEW DRIVE
		CITY:			SHELTON
		STATE:			CT
		ZIP:			06484

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HESTIA CAPITAL PARTNERS LP
		CENTRAL INDEX KEY:			0001456565
		ORGANIZATION NAME:           	
		EIN:				264027247
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A

	BUSINESS ADDRESS:	
		STREET 1:		175 BRICKYARD RD
		CITY:			ADAMS TOWNSHIP
		STATE:			PA
		ZIP:			16046
		BUSINESS PHONE:		724-687-7842

	MAIL ADDRESS:	
		STREET 1:		175 BRICKYARD RD
		CITY:			ADAMS TOWNSHIP
		STATE:			PA
		ZIP:			16046
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13D" xmlns:com="http://www.sec.gov/edgar/common">
  <schemaVersion>X0202</schemaVersion>
<headerData>
    <submissionType>SCHEDULE 13D/A</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: HESTIA CAPITAL PARTNERS LP -->
          <cik>0001456565</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>


    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>12</amendmentNo>
      <securitiesClassTitle>Common Stock, $1 par value per share</securitiesClassTitle>
      <dateOfEvent>05/11/2026</dateOfEvent>
      <previouslyFiledFlag>false</previouslyFiledFlag>
      <issuerInfo>
        <issuerCIK>0000078814</issuerCIK>
        <issuerCusips>
          <issuerCusipNumber>724479100</issuerCusipNumber>
        </issuerCusips>
        <issuerName>PITNEY BOWES INC /DE/</issuerName>
        <address>
          <com:street1>PITNEY BOWES INC</com:street1>
          <com:street2>27 WATERVIEW DRIVE</com:street2>
          <com:city>SHELTON</com:city>
          <com:stateOrCountry>CT</com:stateOrCountry>
          <com:zipCode>06484</com:zipCode>
        </address>
      </issuerInfo>
      <authorizedPersons>
        <notificationInfo>
          <personName>KURTIS J. WOLF</personName>
          <personPhoneNum>724-687-7842</personPhoneNum>
          <personAddress>
            <com:street1>HESTIA CAPITAL MANAGEMENT, LLC</com:street1>
            <com:street2>8050 Rowan Road, Suite 300</com:street2>
            <com:city>Cranberry Township</com:city>
            <com:stateOrCountry>PA</com:stateOrCountry>
            <com:zipCode>16066</com:zipCode>
          </personAddress>
        </notificationInfo>
      </authorizedPersons>
    </coverPageHeader>
    <reportingPersons>
      <reportingPersonInfo>
        <reportingPersonCIK>0001456565</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>HESTIA CAPITAL PARTNERS LP</reportingPersonName>
        <memberOfGroup>a</memberOfGroup>
        <fundType>WC</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>DE</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>5638798.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>5638798.00</sharedDispositivePower>
        <aggregateAmountOwned>5638798.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>4.2</percentOfClass>
        <typeOfReportingPerson>PN</typeOfReportingPerson>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonNoCIK>Y</reportingPersonNoCIK>
        <reportingPersonName>HESTIA CAPITAL PARTNERS GP, LLC</reportingPersonName>
        <memberOfGroup>a</memberOfGroup>
        <fundType>AF</fundType>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>DE</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>5638798.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>5638798.00</sharedDispositivePower>
        <aggregateAmountOwned>5638798.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>4.2</percentOfClass>
        <typeOfReportingPerson>OO</typeOfReportingPerson>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonCIK>0001815344</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>Hestia Capital Management, LLC</reportingPersonName>
        <memberOfGroup>a</memberOfGroup>
        <fundType>AF</fundType>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>DE</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>6002651.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>6002651.00</sharedDispositivePower>
        <aggregateAmountOwned>6002651.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>4.4</percentOfClass>
        <typeOfReportingPerson>OO</typeOfReportingPerson>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonCIK>0001693906</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>Wolf Kurt James</reportingPersonName>
        <memberOfGroup>a</memberOfGroup>
        <fundType>AF</fundType>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>X1</citizenshipOrOrganization>
        <soleVotingPower>294404.00</soleVotingPower>
        <sharedVotingPower>6002651.00</sharedVotingPower>
        <soleDispositivePower>294404.00</soleDispositivePower>
        <sharedDispositivePower>6002651.00</sharedDispositivePower>
        <aggregateAmountOwned>6297055.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>4.6</percentOfClass>
        <typeOfReportingPerson>IN</typeOfReportingPerson>
      </reportingPersonInfo>
    </reportingPersons>
    <items1To7>
      <item1>
        <securityTitle>Common Stock, $1 par value per share</securityTitle>
        <issuerName>PITNEY BOWES INC /DE/</issuerName>
        <issuerPrincipalAddress>
          <com:street1>PITNEY BOWES INC</com:street1>
          <com:street2>27 WATERVIEW DRIVE</com:street2>
          <com:city>SHELTON</com:city>
          <com:stateOrCountry>CT</com:stateOrCountry>
          <com:zipCode>06484</com:zipCode>
        </issuerPrincipalAddress>
      </item1>
      <item3>
        <fundsSource>Item 3 is hereby amended and restated to read as follows:

The Shares beneficially owned directly by Hestia Capital and held in the SMAs were purchased with working capital (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business) in open market purchases and acquired pursuant to an internal transfer from Helios, a fund managed by Hestia LLC, to Hestia Capital. The aggregate purchase price of the 5,638,798 Shares directly owned by Hestia Capital is approximately $33,389,578, including brokerage commissions. The aggregate purchase price of the 363,853 Shares held in the SMAs is approximately $1,306,159, including brokerage commissions.

Of the 294,404 Shares beneficially owned by Mr. Wolf, 64,695 Shares were received in connection with his service as a director of the Issuer and 229,709 Shares are underlying certain of the Options (as defined in Amendment No. 9 to the Schedule 13D) that were received in connection with his service as CEO of the Issuer that will vest within 60 days from the date hereof.</fundsSource>
      </item3>
      <item4>
        <transactionPurpose>Item 4 is hereby amended to add the following:

Hestia LLC plans to distribute approximately 1.5 million Shares to limited partners (the "Limited Partner Transfer"). This includes a distribution of approximately 1.1 million Shares to Mr. Wolf.

Hestia LLC's decision to undertake the Limited Partner Transfer and the sales reported herein was made, in part, to align Hestia LLC's portfolio with Hestia LLC's current views on position diversification and sizing.

Given his confidence in the Issuer's long-term value creation prospects, Mr. Wolf intends to retain a sizable personal stake in the Issuer.</transactionPurpose>
      </item4>
      <item5>
        <percentageOfClassSecurities>Item 5(a) is hereby amended and restated to read as follows:

The aggregate percentage of Shares reported owned by each person named herein is based upon 135,441,425 Shares outstanding as of April 24, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 6, 2026, and, with respect to Mr. Wolf, 229,709 Shares underlying certain Options that are exercisable within 60 days from the date hereof.

A. Hestia Capital
As of the date hereof, Hestia Capital directly owned 5,638,798 Shares.

Percentage: Approximately 4.2%

B. Hestia Partners GP
As the general partner of Hestia Capital, Hestia Partners GP may be deemed the beneficial owner of the 5,638,798 Shares directly owned by Hestia Capital.

Percentage: Approximately 4.2%

C. Hestia LLC
As of the date hereof, 363,853 Shares were held in SMAs. As the investment manager of each of Hestia Capital and the SMAs, Hestia LLC may be deemed the beneficial owner of the (i) 5,638,798 Shares directly owned by Hestia Capital and (ii) 363,853 Shares held in the SMAs.

Percentage: Approximately 4.4%

D. Kurtis J. Wolf
As of the date hereof, Mr. Wolf beneficially owned 294,404 Shares, including (i) 64,695 Shares owned directly and (ii) 229,709 Shares underlying certain of the Options that will vest within 60 days from the date hereof. In addition, as the managing member of each of Hestia Partners GP and Hestia LLC, Mr. Wolf may be deemed the beneficial owner of the (i) 5,638,798 Shares directly owned by Hestia Capital and (ii) 363,853 Shares held in SMAs.

Percentage: Approximately 4.6%

The filing of this Schedule 13D shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any securities of the Issuer that he or it does not directly own. Each of the Reporting Persons specifically disclaims beneficial ownership of the securities reported herein that he or it does not directly own.</percentageOfClassSecurities>
        <numberOfShares>Item 5(b) is hereby amended and restated to read as follows:

A. Hestia Capital
1. Sole power to vote or direct vote: 0
2. Shared power to vote or direct vote: 5,638,798
3. Sole power to dispose or direct the disposition: 0
4. Shared power to dispose or direct the disposition: 5,638,798

B. Hestia Partners GP
1. Sole power to vote or direct vote: 0
2. Shared power to vote or direct vote: 5,638,798
3. Sole power to dispose or direct the disposition: 0
4. Shared power to dispose or direct the disposition: 5,638,798

C. Hestia LLC
1. Sole power to vote or direct vote: 0
2. Shared power to vote or direct vote: 6,002,651
3. Sole power to dispose or direct the disposition: 0
4. Shared power to dispose or direct the disposition: 6,002,651

D. Kurtis J. Wolf
1. Sole power to vote or direct vote: 294,404
2. Shared power to vote or direct vote: 6,002,651
3. Sole power to dispose or direct the disposition: 294,404
4. Shared power to dispose or direct the disposition: 6,002,651</numberOfShares>
        <transactionDesc>Item 5(c) is hereby amended and restated to read as follows:

The transactions in the Shares by the Reporting Persons and the SMAs during the past 60 days, which were executed pursuant to a Rule 10b5-1 Trading Plan, are set forth on Exhibit 1 and are incorporated herein by reference.</transactionDesc>
        <date5PercentOwnership>Item 5(e) is hereby amended and restated to read as follows:

As of May 7, 2026, the Reporting Persons ceased to beneficially own more than 5% of the outstanding Shares of the Issuer.</date5PercentOwnership>
      </item5>
      <item7>
        <filedExhibits>Item 7 is hereby amended to add the following exhibit:

1 - Transactions in Securities</filedExhibits>
      </item7>
    </items1To7>
    <signatureInfo>
      <signaturePerson>
        <signatureReportingPerson>HESTIA CAPITAL PARTNERS LP</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Kurtis J. Wolf</signature>
          <title>Kurtis J. Wolf, Managing Member of Hestia Capital Management, LLC, its Investment Manager</title>
          <date>05/11/2026</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>HESTIA CAPITAL PARTNERS GP, LLC</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Kurtis J. Wolf</signature>
          <title>Kurtis J. Wolf, Managing Member</title>
          <date>05/11/2026</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Hestia Capital Management, LLC</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Kurtis J. Wolf</signature>
          <title>Kurtis J. Wolf, Managing Member</title>
          <date>05/11/2026</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Wolf Kurt James</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Kurtis J. Wolf</signature>
          <title>Kurtis J. Wolf</title>
          <date>05/11/2026</date>
        </signatureDetails>
      </signaturePerson>
    </signatureInfo>
  </formData>

</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1
<SEQUENCE>2
<FILENAME>ex1to13da1212166003_051126.htm
<DESCRIPTION>TRANSACTIONS IN SECURITIES
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right">Exhibit 1</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><U>Transactions in the Securities of the
Issuer During the Past 60 days</U></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 25%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><U>Nature of the Transaction</U></TD>
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Securities</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><U>Purchased/(Sold)</U></P></TD>
    <TD STYLE="white-space: nowrap; width: 25%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Price Per</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><U>Security($)</U></P></TD>
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Date of</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><U>Purchase/Sale</U></P></TD></TR>
  </TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><U>HESTIA CAPITAL PARTNERS, LP</U></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt">Sale of Common Stock<FONT STYLE="font-size: 10pt"><SUP>1</SUP></FONT></TD>
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(145,863)</TD>
    <TD STYLE="white-space: nowrap; width: 25%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">11.061</TD>
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">04/01/2026</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Sale of Common Stock<FONT STYLE="font-size: 10pt"><SUP>2</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(36,326)</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">11.137</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">04/02/2026</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Sale of Common Stock<FONT STYLE="font-size: 10pt"><SUP>3</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(706,681)</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">14.473</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">05/06/2026</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Sale of Common Stock<FONT STYLE="font-size: 10pt"><SUP>4</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(172,890)</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">15.014</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">05/06/2026</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Sale of Common Stock<FONT STYLE="font-size: 10pt"><SUP>5</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(543,474)</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">15.594</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">05/07/2026</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Sale of Common Stock<FONT STYLE="font-size: 10pt"><SUP>6</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(354,136)</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">15.686</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">05/08/2026</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><U>HESTIA CAPITAL MANAGEMENT, LLC<BR>
(On Behalf of The Separately Managed Accounts)</U></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt">Sale of Common Stock<FONT STYLE="font-size: 10pt"><SUP>1</SUP></FONT></TD>
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(14,426)</TD>
    <TD STYLE="white-space: nowrap; width: 25%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">11.061</TD>
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">04/01/2026</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Sale of Common Stock<FONT STYLE="font-size: 10pt"><SUP>2</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(3,593)</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">11.137</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">04/02/2026</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Sale of Common Stock<FONT STYLE="font-size: 10pt"><SUP>3</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(69,891)</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">14.473</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">05/06/2026</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Sale of Common Stock<FONT STYLE="font-size: 10pt"><SUP>4</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(17,099)</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">15.014</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">05/06/2026</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Sale of Common Stock<FONT STYLE="font-size: 10pt"><SUP>5</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(53,750)</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">15.594</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">05/07/2026</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Sale of Common Stock<FONT STYLE="font-size: 10pt"><SUP>6</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(35,025)</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">15.686</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">05/08/2026</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><SUP>1 </SUP></FONT>The price reported
herein is a weighted average price. These Shares were sold in multiple transactions at prices ranging from $10.925 to $11.15, inclusive.
The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange
Commission, upon request, full information regarding the number of Shares sold at each separate price within the range set forth herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><SUP>2 </SUP></FONT>The price reported
herein is a weighted average price. These Shares were sold in multiple transactions at prices ranging from $11.13 to $11.155, inclusive.
The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange
Commission, upon request, full information regarding the number of Shares sold at each separate price within the range set forth herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><SUP>3 </SUP></FONT>The price reported
herein is a weighted average price. These Shares were sold in multiple transactions at prices ranging from $13.90 to $14.895, inclusive.
The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange
Commission, upon request, full information regarding the number of Shares sold at each separate price within the range set forth herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><SUP></SUP></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><SUP>4 </SUP></FONT>The price reported
herein is a weighted average price. These Shares were sold in multiple transactions at prices ranging from $14.90 to $15.07, inclusive.
The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange
Commission, upon request, full information regarding the number of Shares sold at each separate price within the range set forth herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><SUP>5 </SUP></FONT>The price reported
herein is a weighted average price. These Shares were sold in multiple transactions at prices ranging from $14.95 to $15.79, inclusive.
The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange
Commission, upon request, full information regarding the number of Shares sold at each separate price within the range set forth herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><SUP>6 </SUP></FONT>The price reported
herein is a weighted average price. These Shares were sold in multiple transactions at prices ranging from $15.53 to $15.93, inclusive.
The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange
Commission, upon request, full information regarding the number of Shares sold at each separate price within the range set forth herein.</P>

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