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    David Steinhart

    Managing Director and Portfolio Manager at Contrarian Capital Management, L.L.C.

    David Steinhardt is a Managing Director and Portfolio Manager at Contrarian Capital Management, specializing in value-oriented, event-driven equity and distressed debt opportunities as manager of the Contrarian Valdis Fund. He covers companies undergoing corporate distress, predominantly in developed markets, drawing on performance experience from prior roles such as Analyst at Alden Global Capital and Director with Perella Weinberg Partners’ Asset Based Value Strategy. Steinhardt joined Contrarian in 2022 after five years at Litespeed Management; his career began earlier with a magna cum laude BA from the University of Pennsylvania and an MBA from Columbia Business School’s prestigious Value Investing and Private Equity Fellows Programs. He brings advanced credentials in investment analysis and fund management, with a proven record in corporate restructuring, although precise metrics and public rankings are not disclosed.

    David Steinhart's questions to PITNEY BOWES INC /DE/ (PBI) leadership

    David Steinhart's questions to PITNEY BOWES INC /DE/ (PBI) leadership • Q4 2024

    Question

    David Steinhart inquired about the expected cadence of the $150 million share repurchase program, the company's priorities for further debt reduction, and suggested hosting an Investor Day to better articulate the value of the SendTech business.

    Answer

    CEO Lance Rosenzweig explained that the $150 million share repurchase authorization is a three-year program and will be executed opportunistically based on market conditions and the company's strong free cash flow generation. Regarding debt, he stated the company will continue to be opportunistic, prioritizing nearer-term maturities and higher-cost debt. Rosenzweig also acknowledged that an Investor Day to provide more clarity on the SendTech business is a sensible idea that the company will consider.

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