Company: PTC
Filing Date: 2025-11-21
Form Type: 10-K
Source: 0001193125-25-291326
Chunk: 92

Company: PTC INC.
Filing Date: 2025-11-21
Form: 10-K
Item: Item 6
Chunk 92
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 based on achieving performance criteria established by the Compensation and People Committee of our Board of Directors on or prior to the grant date. Each RSU represents the contingent right to receive one share of our common stock.Our ESPP allows eligible employees to contribute up to 10% of their base salary, up to a maximum of $25,000 per year and subject to any other plan limitations, toward the purchase of our common stock at a discounted price. The purchase price of the shares on each purchase date is equal to 85% of the lower of the fair market value of our common stock on the first and last trading days of each offering period. The ESPP is qualified under Section 423 of the Internal Revenue Code. We estimate the fair value of each purchase right under the ESPP on the date of grant using the Black-Scholes option valuation model and use the straight-line attribution approach to record the expense over the six-month offering period.The following table shows total stock-based compensation expense recorded in our Consolidated Statements of Operations: 

         (in thousands)
          
         Year ended September 30,

         2025

         2024

         2023

         Cost of license revenue
          
         $
         409

         $
         133

         $
         145

         Cost of support and cloud services revenue

         16,435

         14,479

         12,801

         Cost of professional services revenue

         5,846

         6,827

         7,928

         Sales and marketing

         61,750

         68,541

         56,394

         Research and development

         65,119

         60,266

         58,931

         General and administrative

         66,646

         73,215

         70,260

         Total stock-based compensation expense
          
         $
         216,205

         $
         223,461

         $
         206,459

        Stock-based compensation expense in 2025, 2024 and 2023 includes $7.1 million, $6.8 million, and $6.8 million respectively, related to our ESPP.2000 Equity Incentive Plan Accounting and Stock-Based Compensation ExpenseThe fair value of RSUs granted in 2025, 2024 and 2023 was based on the fair market value of our stock on the date of grant for service-