Company: PTC
Filing Date: 2025-03-13
Form Type: 8-K
Source: 0000950170-25-038700
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Company: PTC INC.
Filing Date: 2025-03-13
Form: 8-K
Item: Item 5.02
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Appointment of New Director

On March 9, 2025, Trac Pham was appointed to the Board of Directors of PTC Inc., effective as of March 17, 2025. Mr. Pham has also been appointed to serve as a member of the Audit Committee of the Board of Directors.

Mr. Pham served the Co-Chief Executive Officer of Sprinklr, Inc., an enterprise software company that provides unified customer experience software on an AI-powered platform, from June 2024 to November 2024, and as Interim Chief Operating Officer of Sprinklr from January 2024 to June 2024. Mr. Pham previously served as Chief Financial Officer at Synopsys, Inc. from December 2014 to December 2022 and was responsible for finance, strategy and corporate business development, and information technology. Before that, he served as Vice President of Corporate Finance and Vice President of Financial Planning and Strategy at Synopsys. Mr. Pham served as a member of the Board of Directors of Sprinklr from June 2023 to November 2024. Mr. Pham holds a B. A. in Economics from the University of California, Berkeley and a Master of Pacific International Affairs from the School of Global Policy & Strategy at University of California, San Diego. Mr. Pham is 56 years old.

Mr. Pham’s compensation for service as a director will be commensurate with that for our outside directors, other than our Board Chair, for the current Board service year, as prorated for the year. He will be paid an annual cash retainer of $60,000, as pro-rated for the current year, and will be granted an annual equity retainer of RSUs valued at approximately $250,000 on the grant date, as prorated for the year, which RSUs will vest on the earlier of the 2026 Annual Meeting of Shareholders and March 15, 2026. He will also receive a one-time initial new director grant of RSUs valued at $375,000 on the grant date, which RSUs will vest in two substantially equal installments on March 15, 2026 and 2027. For his service on the Audit Committee, Mr. Pham will receive compensation commensurate with that for other Audit Committee members, other