How is it possible that the New York Yankees are sitting in fourth place in the American League East — during the offseason?

That’s the only conclusion to be drawn as general manager Brian Cashman watches his division rivals upgrade their pitching staffs.

The Toronto Blue Jays landed the biggest star so far, signing right-hander Dylan Cease to a seven-year, $210 million contract.

The Boston Red Sox have been busy on the trade market, getting former Yankees right-hander Sonny Gray from the St. Louis Cardinals and right-hander Johan Oviedo from the Pittsburgh Pirates.

Even the Baltimore Orioles are enjoying Hot Stove season, signing closer Ryan Helsley to a two-year, $28 million contract and trading for reliever Andrew Kittredge. And the Birds aren’t done dealing.

For The Birds

The Athletic’s Ken Rosenthal and Will Sammon report Baltimore is talking about a trade with the Miami Marlins for right-hander Edward Cabrera.

“The Orioles … are trying to add a third high-end starter to complement left-hander Trevor Rogers and righty Kyle Bradish,” The Athletic reports.

Don’t sleep on Baltimore, because they are shopping for more than just fresh arms.

“After making a five-year, $150 million offer to designated hitter Kyle Schwarber — the same terms Schwarber received Tuesday in his agreement with the Philadelphia Phillies — the Orioles might prefer their big free-agent investment to be in a hitter such as Kyle Tucker or Pete Alonso rather than a starting pitcher,” Rosenthal and Sammon report.

Noticeably Quiet

Meanwhile, the Yankees have been noticeably quiet during the offseason. Their biggest move was one they didn’t make: letting reliever Devin Williams walk over to the New York Mets, who gave the former closer a three-year, $51 million contract.

And then there’s Trent Grisham. The Yankees extended him the qualifying offer and the outfielder accepted the deal, returning to the Bronx on a one-year contract worth more than $22 million.

Yes, the Yankees have been linked time and again to Tucker and outfielder Cody Bellinger.

And yes, the Yankees have been linked to several pitchers available on the open market.

But it’s put-up-or-shut-up time for the Yankees. No, they aren’t the Evil Empire anymore. Hal Steinbrenner made that perfectly clear earlier this fall when he talked about the limits of the club’s payroll.

However if the Yankees want to catch the Blue Jays, who won the AL East division title for the first time since 2015, and hold off the reloading Red Sox and Orioles, Cashman needs to do something.

Yes, winning the offseason doesn’t guarantee on-field success.

But the Yankee certainly won’t improve their World Series chances if they don’t step up to the plate. And soon.