Company: PTC
Filing Date: 2025-01-02
Form Type: DEF 14A
Source: 0001104659-25-000041
Chunk: 31

Company: PTC INC.
Filing Date: 2025-01-02
Form: DEF 14A
Chunk 31
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” so that no equity is accelerated upon a change in control but is accelerated only if the executive is terminated in connection with or after a change in control. The Committee believes this benefits PTC and any potential

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TABLE OF CONTENTS

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

acquirer because it enables PTC to retain and motivate executives while a potential change in control is pending, provides an acquirer with the ability to retain desired executives using existing equity incentives, and does not provide a one-time benefit to an executive that could undermine those efforts. PERIODIC REVIEW The Committee reviews these agreements each year for the executive officers to determine if these agreements should be maintained, modified, or terminated. For 2024, the Committee reviewed current market practices and the terms of the executives’ agreements with the Committee’s compensation consultant. Based on this review, the Committee decided that it was appropriate to maintain such agreements and, as described below, to enhance the severance payable upon termination of employment without cause for certain of our executives for 2024. The revised agreements were executed and became effective in November 2023. The executive agreement with Michael DiTullio, our then President and Chief Operating Officer, was revised to provide for continued vesting of all equity held by him upon termination of his employment without cause. The Committee implemented this structure to ensure retention of Mr. DiTullio during the CEO succession and transition and thereafter to provide executive continuity and support Mr. Barua, our then CEO-Elect who later assumed the CEO role in February 2024. The executive agreements with Kristian Talvitie, our Chief Financial Officer, Aaron von Staats, our General Counsel, and Catherine Kniker, our then Chief Strategy, Sustainability and Corporate Marketing officer, were revised