Company: PTC
Filing Date: 2025-01-02
Form Type: DEF 14A
Source: 0001104659-25-000041
Chunk: 54

Company: PTC INC.
Filing Date: 2025-01-02
Form: DEF 14A
Chunk 54
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 the table, used to link CAP to our executive

| ​ |     | ​ | ​ | 2025 PROXY STATEMENT | ​ | ​ |     | ​ | ​ | 49 | ​ |

TABLE OF CONTENTS

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

officers to our performance. See Appendix A for the definition of free cash flow, a non-GAAP financial measure, and its reconciliation to the most directly comparable GAAP measure. (7) The Average Summary Compensation Table Total for Non-PEO Named Executive Officers in 2023 reflects a change in value from $ 7,935,291to $ 7,940,226due to an incorrect calculation. 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 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. The decrease in Mr. Heppelmann’s (First PEO) CAP in 2024 reflects a reduction in his target annual long-term RSUs, as well as the terms of Mr. Heppelmann’s September 2020 Executive Agreement capping the maximum amount of accelerated equity that could be earned in connection with the Board-initiated CEO succession at the target level. The compensation decisions for Mr. Barua (Second PEO) for his first year as PEO in