Company: PTC
Filing Date: 2025-12-23
Form Type: DEF 14A
Source: 0001104659-25-124170
Chunk: 24

Company: PTC INC.
Filing Date: 2025-12-23
Form: DEF 14A
Chunk 24
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 2024. No portion of the CIP was payable unless threshold Free Cash Flow performance was achieved.

| ​ | Performance Measure | ​ | ​ | ​ | Threshold(50% Earned) | ​ | ​ | ​ | Target(100% Earned) | ​ | ​ | ​ | Upside(135% Earned)(2) | ​ | ​ | ​ | Achievement  | ​ | ​ | ​ | % Earned | ​ |
| ​ | Free Cash Flow(1)   | ​ | ​ | ​ | $790 Million          | ​ | ​ | ​ | $830 Million        | ​ | ​ | ​ | $850 Million           | ​ | ​ | ​ | $857 Million | ​ | ​ | ​ | 135%     | ​ |

(1) Free Cash Flow is cash flow from operations net of capital expenditures for the applicable period. 2025 Free Cash Flow consisted of $868 million of cash from operations net of $11 million of capital expenditures. (2) 135% was the maximum that could be earned and funded (the cap) under the 2025 CIP. Each NEO could earn a maximum of 200% of such executive’s 2025 CIP target bonus based on company and individual performance; however, the aggregate amount that could be earned by all executives under the plan, including the NEOs, was not more than the actual 135% of the 2025 CIP Target achieved multiplied by the aggregate of their 2025 CIP Target bonuses. The structure ensures that payouts are directly tied to measurable financial performance and allows for the exercise of downward discretion by the Committee based on individual performance.

| ​ | 36 | ​ | ​ |     | ​ | ​ | 2026 PROXY STATEMENT | ​ | ​ |     | ​ |

TABLE OF CONTENTS

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

The Committee