Company: PTC
Filing Date: 2025-12-23
Form Type: DEF 14A
Source: 0001104659-25-124170
Chunk: 59

Company: PTC INC.
Filing Date: 2025-12-23
Form: DEF 14A
Chunk 59
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-over-year. Generally, PEO and Non-PEO NEO CAP directionally align with our cumulative total shareholder return, with the increases and decreases in our stock price increasing or decreasing total shareholder return and, as a result, the achievement assumptions and actual achievement under outstanding relative TSR performance-based RSUs, as well as increases or decreases in our stock prices impacting the vest date value of RSUs. Our outstanding relative TSR performance-based RSUs use a subset of companies in the S&P 500 Information Technology group for the comparison group, further aligning the performance of our peer group total shareholder return with our CAP amounts. Free Cash Flow was the performance measure under the 2025 annual corporate incentive plan. As Free Cash Flow increases, estimated and actual achievement under those outstanding performance-based RSUs increase. As none of the outstanding performance based RSUs were tied to net income, net income does not significantly affect CAP. The compensation decisions for our First PEO and Non-PEO NEOs are described in Compensation Discussion and Analysis .

**Performance Measures**

We consider the list below to be our most important metrics that link compensation paid to our PEO and other Named Executive Officers to our performance, as they are the key metrics that determine the payouts under our annual Corporate Incentive Plan and Performance-Based RSUs.

| ​ | Free Cash Flow          | ​ |
| ​ | Adjusted Free Cash Flow | ​ |
| ​ | Annual Run Rate (ARR)   | ​ |
| ​ | Relative TSR            | ​ |

| ​ | 58 | ​ | ​ |     | ​ | ​ | 2026 PROXY STATEMENT | ​ | ​ |     | ​ |

TABLE OF CONTENTS

| ​              | ​ | ​ | ​            | ​ | ​ | ​                   | ​ | ​ | ​                     | ​ | ​ | ​              | ​ | ​ | ​                  | ​ | ​ | ​                         | ​ | ​ | ​               | ​ | ​ | ​          | ​ |
| 2025Highlights | ​ | ​ | ProxySummary | ​ | ​ | CorporateGovernance | ​ | ​ | ExecutiveCompensation | ​ | ​ | AuditorMatters | ​ | ​ | PTC StockOwnership | ​ | ​ | Annual MeetingInformation | ​ | ​ | OtherGovernance | ​ | ​ | Appendix A | ​ |

AUDITOR MATTERS

| ​ 
 ​ 
 ​ | Advisory Vote to Confirm theSelection of PricewaterhouseCoopers LLPas Our Independent Registered Public Accounting Firm for2026​