Company: PTC
Filing Date: 2025-01-02
Form Type: DEF 14A
Source: 0001104659-25-000041
Chunk: 48

Company: PTC INC.
Filing Date: 2025-01-02
Form: DEF 14A
Chunk 48
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(1) An aggregate amount equal to two times the average of the annual incentive bonus, if any, paid to the executive for the two fiscal years immediately preceding the fiscal year in which the termination occurs. (2) For any bonus equity, only a pro-rata portion of such equity based on the percentage of the fiscal year completed at the time of termination would accelerate and vest at the Target level. Michael DiTullio, our former President and Chief Operating Officer, ceased to serve as such at the request of the company effective as of September 30, 2024 and became a Senior Strategic Advisor to the company on October 1, 2024. As ceasing to serve as President and Chief Operating Officer at the election of the company constituted a Termination without Cause under his Executive Agreement, and he became entitled to the separation benefits set forth in that agreement. His severance benefits became

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TABLE OF CONTENTS

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| 2024Highlights | ​ | ​ | ProxySummary | ​ | ​ | CorporateGovernance | ​ | ​ | ExecutiveCompensation | ​ | ​ | AuditorMatters | ​ | ​ | PTC StockOwnership | ​ | ​ | Annual MeetingInformation | ​ | ​ | OtherGovernance | ​ | ​ | Appendix A | ​ |

payable and will be paid in accordance with such agreement as set forth below. Pursuant to the terms of such agreement, Mr. DiTullio executed a release of claims against PTC and must execute a subsequent release of claims against PTC to receive the separation benefits.

| ​ 
 ​ 
 ​ | Michael DiTullio, Former President and Chief Operating Officer 
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 Compensation Element                                           | ​ 
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 ​ | Separation Benefits due under Executive Agreement for Termination without Cause 
 Amount                                                                          | ​ | ​ | ​ | Payment Term | ​ | ​ | ​ | Value |   |            |   | ​ 
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|:--|:---------------------------------------------------------------|:--|:--|:--|:--------------------------------------------------------------------------------