Catherine Levene
PITNEY BOWES INC /DE/About Catherine Levene
Independent director of Pitney Bowes Inc. (PBI) since 2024; age 55. Former President of Meredith Corporation’s National Media Group (2019–2021), co-founder/CEO of Artspace Marketplace (2010–2014), with prior executive roles at The New York Times Company and DailyCandy. Brings deep digital innovation and executive leadership expertise; also serves as a director of National Public Radio and Informa PLC (LSE) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Meredith Corp. – National Media Group | President | 2019–2021 | Led digital/media operations; first female officer at IAC’s Dotdash post-acquisition |
| Artspace Marketplace | Co-Founder & CEO | 2010–2014 | Built online art marketplace; exited to Phaidon, Inc. in 2014 |
| DailyCandy | Executive role | 2007–2008 | Business sold to Comcast in 2008 |
| The New York Times Company | Executive role | Not disclosed | Digital/media experience |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Informa PLC (LSE) | Director | Not disclosed | Public company directorship |
| National Public Radio (NPR) | Director | Not disclosed | Non-profit board |
| Rent the Runway, Ad.Net, Business.com, Purch, TheFind | Director (prior/private boards) | Not disclosed | Private-company board experience |
Board Governance
- Independence: The Board determined all directors other than the CEO are independent under NYSE standards; Audit and Executive Compensation committees meet heightened independence requirements .
- Attendance: Each director attended at least 75% of aggregate Board and committee meetings; the Board held 4 regular meetings and 31 additional meetings in 2024; Governance met 8x, Audit 5x, Executive Compensation 10x; independent directors met in executive session regularly .
- Refreshment: Board expanded from 5 to 7 in late 2024, adding Catherine Levene for digital innovation expertise alongside other additions .
Committee Assignments (current per latest proxy)
| Name | Audit | Executive Compensation | Value Enhancement Committee | Governance |
|---|---|---|---|---|
| Catherine Levene | Member | Member |
Fixed Compensation
2024 Director Compensation (actual paid)
| Item | Amount (USD) |
|---|---|
| Fees Earned or Paid in Cash | $16,692 |
| Stock Awards (Grant-Date Fair Value) | $52,329 |
| All Other Compensation | $0 |
| Total | $69,021 |
- Equity grant details: Upon Board appointment in Oct 2024, received a prorated grant of 6,805 RSUs on Nov 21, 2024, derived by dividing a prorated portion of the $100,000 annual award by the $7.69 closing price on the grant date .
- No options or restricted stock granted to non-employee directors in 2024; directors received RSUs under the Directors’ Stock Plan (vest one year after grant; quarterly dividend equivalents on RSUs; optional deferral until termination) .
Director Fee Schedule (policy)
| Role/Committee | Annual Cash Retainer | Equity |
|---|---|---|
| Non-Executive Director (not Chair) | $75,000 | $100,000 RSUs (grant-date value) |
| Audit – Chair | $12,000 | — |
| Audit – Member | $12,000 | — |
| Executive Compensation – Chair | $10,500 | — |
| Executive Compensation – Member | $10,500 | — |
| Governance – Chair | $9,000 | — |
| Governance – Member | $9,000 | — |
Note: VEC members received an additional one-time $50,000 cash retainer and $325,000 RSUs in 2024 (two tranches), but Levene was not a VEC member per the committee chart .
Performance Compensation
| Performance-Linked Element | Status |
|---|---|
| Performance-conditioned equity (PSUs) for directors | None disclosed; directors received time-based RSUs only |
| Options for directors | None granted in 2024 |
| Cash incentives tied to metrics (TSR, EBITDA, etc.) | Not disclosed for directors |
Other Directorships & Interlocks
| Entity | Relationship to PBI | Potential Conflict/Interlock |
|---|---|---|
| Informa PLC (public, LSE) | External directorship | No related-party transactions disclosed; Board policy requires review >$120k and prohibits inconsistent transactions |
| NPR (non-profit) | External directorship | No conflicts disclosed |
Expertise & Qualifications
- Digital innovation and executive leadership across media/e-commerce; senior operating experience (Meredith NMG President; Artspace founder/CEO) .
- Board-qualified oversight across technology and digital business models; complements PBI’s technology/commerce strategy .
Equity Ownership
| Holder | Shares Beneficially Owned | Options Exercisable within 60 days | % of Class |
|---|---|---|---|
| Catherine Levene | 0 | 0 | * (<1%) |
- As of Feb 15, 2025, none of these shares are pledged; Board prohibits hedging and pledging by directors/officers .
- Director Stock Ownership Requirement: Must accumulate and retain Company Common Stock valued at 5x base retainer ($375,000) within 5 years of becoming a director; deferral of RSU conversion allowed; RSUs vest one year after grant; unvested time-based RSUs count toward guidelines (since 2024) .
- Compliance status: Not disclosed; as a late-2024 appointee with 0 beneficially owned shares reported as of Feb 15, 2025, guideline timeline extends to within 5 years (through 2029) .
Governance Assessment
-
Strengths
- Independent director; serves on Executive Compensation and Governance Committees, both comprised solely of independent directors under heightened standards .
- Attendance threshold met (≥75% of Board and committee meetings); Board held intensive cadence in 2024, with regular executive sessions of independent directors—supports active oversight .
- Equity-heavy compensation mix (2024: ~$52k equity vs ~$17k cash) aligns director pay with shareholder outcomes; RSU vesting and ownership guidelines further reinforce alignment .
-
Watchpoints
- New appointee with reported 0 beneficial ownership as of Feb 15, 2025; monitor accumulation toward $375,000 guideline and any deferral elections that might delay outright ownership visibility .
- Broader Board activism context (Cooperation Agreement with Hestia in 2024) suggests ongoing strategic scrutiny; while not a direct conflict for Levene, sustained stability and committee effectiveness will be important signals to investors .
-
Conflicts/Related Parties
- No related-party transactions disclosed involving Levene; Board maintains formal related-person transaction policy (>$120k threshold; fairness/arm’s-length; director recusal) .
- Hedging/pledging prohibited; no pledging reported for directors/executives’ holdings .