PTC 8-K Signals Officer Changes, Compensation, Shareholder Vote
Ticker: PTC · Form: 8-K · Filed: Feb 15, 2024 · CIK: 857005
Sentiment: neutral
Topics: corporate-governance, executive-changes, compensation, shareholder-vote
Related Tickers: PTC
TL;DR
**PTC filed an 8-K indicating executive changes, compensation updates, and a shareholder vote, but no specific details are provided.**
AI Summary
PTC Inc. filed an 8-K on February 15, 2024, reporting events that occurred on February 14, 2024. The filing indicates potential changes in leadership, including departures, elections, or appointments of officers, and adjustments to compensatory arrangements for certain officers. Additionally, it covers the submission of matters to a vote of security holders. However, the provided text does not include specific names, dollar amounts, or outcomes for these events.
Why It Matters
Changes in executive leadership and compensation can significantly impact a company's strategic direction and financial performance, while shareholder votes reflect investor sentiment and governance decisions.
Risk Assessment
Risk Level: medium — While the filing indicates standard corporate governance events, the lack of specific details about officer changes or compensation adjustments prevents a full assessment of potential positive or negative impacts.
Key Players & Entities
- PTC Inc. (company) — Registrant
- 06 Technology (company) — Organization Name
FAQ
What is the earliest event date reported in this 8-K filing by PTC Inc.?
The earliest event reported in this 8-K filing by PTC Inc. occurred on February 14, 2024.
What specific items are reported in this 8-K filing?
This 8-K filing reports on Item 5.02, "Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers," and Item 5.07, "Submission of Matters to a Vote of Security Holders."
What is the full legal name of the company that filed this 8-K?
The full legal name of the company that filed this 8-K is PTC Inc.
When was this 8-K filing submitted to the SEC?
This 8-K filing was submitted to the SEC on February 15, 2024.
What is PTC Inc.'s business address?
PTC Inc.'s business address is 121 Seaport Boulevard, Boston, Massachusetts, 02210.
Filing Stats: 752 words · 3 min read · ~3 pages · Grade level 12.8 · Accepted 2024-02-15 16:02:56
Filing Documents
- ptc-20240214.htm (8-K) — 85KB
- 0000950170-24-015850.txt ( ) — 200KB
- ptc-20240214.xsd (EX-101.SCH) — 26KB
- ptc-20240214_htm.xml (XML) — 5KB
02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. CEO Succession On February 14, 2024, the Board of Directors of PTC Inc. ("PTC" or the "Company") appointed Neil Barua, the Company's CEO-Elect, Chief Executive Officer of the Company. Mr. Barua succeeds James Heppelmann who, as part of the Board of Directors' CEO succession plan, stepped down from his role as Chief Executive Officer on such date. Mr. Barua's professional experience and the material terms of his compensatory arrangements are described in Item 5.02 of PTC's Current Report on Form 8-K filed on July 26, 2023, and are incorporated herein by reference. Appointment of Principal Accounting Officer On February 14, 2024, Alice Christenson, Corporate Vice President, Finance, age 59, was appointed Chief Accounting Officer (principal accounting officer) of the Company. Ms. Christenson will continue to report to Kristian Talvitie, Executive Vice President and Chief Financial Officer of the Company, who will no longer serve as the principal accounting officer. Ms. Christenson has served as the Company's Corporate Vice President, Finance, since December 31, 2018, responsible for the Company's Corporate Controller organization. Ms. Christenson previously served in various other Finance roles since joining the Company in February 2002.
07 Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders. The Annual Meeting of Stockholders was held on February 14, 2024. Three proposals were before the meeting: Elect nine directors to serve until the 2025 Annual Meeting of Stockholders; Advisory vote to approve the compensation of our named executive officers (Say-on-Pay); Advisory vote to confirm the selection of PricewaterhouseCoopers LLP as our independent registered public accounting firm for 2024. The votes with respect to the proposals are set forth below. Elect Nine Directors to Serve until the 2025 Annual Meeting of Stockholders. For Withheld Broker Non-Votes Neil Barua 104,825,737 595,445 4,153,561 Mark Benjamin 98,133,660 7,287,522 4,153,561 Janice Chaffin 101,956,588 3,464,594 4,153,561 Amar Hanspal 104,337,069 1,084,113 4,153,561 Michal Katz 103,604,518 1,816,664 4,153,561 Paul Lacy 99,677,154 5,744,028 4,153,561 Corinna Lathan 103,605,434 1,815,748 4,153,561 Janesh Moorjani 103,899,431 1,521,751 4,153,561 Robert Schechter 101,529,414 3,891,768 4,153,561 Advisory vote to approve the compensation of our named executive officers (Say-on-Pay). For Against Abstain Broker Non-Votes 96,865,993 8,524,531 30,658 4,153,561 Advisory vote to confirm the selection of PricewaterhouseCoopers LLP as our independent registered public accounting firm form 2024. For Against Abstain Broker Non-Votes 98,469,537 11,081,601 23,605 — 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. PTC Inc. Date: 15 February 2024 By: /s/Catherine Gorecki Catherine Gorecki Senior Vice President, Corporate & Securities Counsel, Assistant Secretary 3