PTC Inc. Announces Executive and Board Changes
Ticker: PTC · Form: 8-K · Filed: Sep 3, 2024 · CIK: 857005
Sentiment: neutral
Topics: executive-changes, board-changes, governance
TL;DR
PTC Inc. shakes up exec team and board, effective Aug 27.
AI Summary
PTC Inc. announced on August 27, 2024, changes in its executive team and board of directors. The filing details the departure of certain officers and directors, the election of new directors, and updates to compensatory arrangements for key executives. These changes are effective as of August 27, 2024.
Why It Matters
Changes in executive leadership and board composition can signal shifts in company strategy, operational focus, or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Executive and board changes can introduce uncertainty regarding future strategy and leadership stability.
Key Players & Entities
- PTC Inc. (company) — Registrant
- August 27, 2024 (date) — Effective date of changes
- Massachusetts (location) — State of Incorporation
- Boston, MA (location) — Principal Executive Offices
FAQ
What specific roles have been affected by the executive and director changes at PTC Inc.?
The filing indicates the departure of certain officers and directors, the election of new directors, and updates to compensatory arrangements for certain officers, but does not specify the exact roles affected in this excerpt.
When were these changes to the executive team and board of directors effective?
The changes were effective as of August 27, 2024.
What is the principal business address of PTC Inc.?
The principal executive offices of PTC Inc. are located at 121 Seaport Boulevard, Boston, MA 02210.
Under which section of the Securities Exchange Act of 1934 is this Form 8-K filed?
This Form 8-K is filed pursuant to Section 13 or 15(D) of The Securities Exchange Act of 1934.
What was PTC Inc.'s former name?
PTC Inc.'s former name was Parametric Technology Corp, with a date of name change on July 3, 1992.
Filing Stats: 733 words · 3 min read · ~2 pages · Grade level 10.3 · Accepted 2024-09-03 08:21:31
Key Financial Figures
- $60,000 — will be paid an annual cash retainer of $60,000, as pro-rated for the current year, pay
- $250,000 — etainer of RSUs valued at approximately $250,000 on the grant date, as prorated for the
- $375,000 — al new director grant of RSUs valued at $375,000 on the grant date, which RSUs will vest
- $12,500 — ear. He will be paid a cash retainer of $12,500, which will be prorated for the year an
Filing Documents
- d887948d8k.htm (8-K) — 24KB
- 0001193125-24-211593.txt ( ) — 139KB
- ptc-20240827.xsd (EX-101.SCH) — 3KB
- ptc-20240827_lab.xml (EX-101.LAB) — 17KB
- ptc-20240827_pre.xml (EX-101.PRE) — 11KB
- d887948d8k_htm.xml (XML) — 3KB
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 hereunto duly authorized. PTC Inc. Date: September 3, 2024 By: /s/Catherine Gorecki Catherine Gorecki Senior Vice President, Corporate & Securities Counsel, Assistant Secretary 3