Company: PTC
Filing Date: 2025-12-23
Form Type: DEF 14A
Source: 0001104659-25-124170
Chunk: 58

Company: PTC INC.
Filing Date: 2025-12-23
Form: DEF 14A
Chunk 58
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 Appendix A for the definition of free cash flow, a non-GAAP financial measure, and its reconciliation to the most directly comparable GAAP measure. Relationship between Compensation Actually Paid Disclosed in the Pay Versus Performance Table and Other Table Elements As between the compensation of our PEO and the Non-PEO NEOs shown in the Summary Compensation Table and Compensation Actually Paid (CAP) calculated and reflected in the Pay versus Performance Table, the equity awards in the Summary Compensation Table (SCT) reflect the grant date fair value of the equity awards for that year, while the CAPs reflect adjustments to the fair value of unvested and vested equity awards during the years shown in the Pay Versus Performance Table. Accordingly, neither the Summary Compensation Table nor the Pay versus Performance Table reflect the actual amounts that will be received by our PEO and non-PEO NEOs upon vesting of those awards. In 2025, Mr. Barua’s (First PEO) CAP amount and our Non-PEO NEO’s average CAP amount are less than their respective SCT and average SCT amounts, primarily driven by the decrease in the actual and forecasted achievement percentages of our ARR operating performance PRSUs as of 2025 fiscal year-end compared to the grant date of these awards,

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TABLE OF CONTENTS

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

despite strong year-over-year ARR growth. The lower achievement percentages of these awards as of 2025 fiscal year-end compared to the grant date demonstrates the rigor of our performance targets. Our First PEO’s CAP amount and our Non-PEO NEO’s average CAP amount increased compared to the 2024 CAP amounts. This correlates with our increase in share price, total shareholder return and peer group total shareholder return year