PTC President & COO DiTullio to step down, become strategic advisor through June 2025

PTC INC.

Michael DiTullio's last day as President/COO is Sept 30, 2024; then advisory role Oct 1, 2024 to June 30, 2025.
Advisory compensation: $412,500 salary plus RSU valued at $3.0M vesting in three equal installments from July 2025.
Upon advisory end, DiTullio gets $1.1M severance (1x base salary + target bonus), continued benefits, and equity vesting.

item 5.02 item 9.01

Executive movements

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Role change

Michael DiTullio

President and Chief Operating Officer

PTC · PTC INC.

Effective: 2024-09-30
Filed: July 16, 2024, 7:59 PM ET

On July 14, 2024, it was agreed that Michael DiTullio, who has served as President and Chief Operating Officer of PTC since February 2023, will, in culmination of the successful CEO succession process, transition from that role to that of strategic advisor to the Chief Executive Officer, with his last day of service as President and Chief Operating Officer being September 30, 2024.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Michael DiTullio changed role as President and Chief Operating Officer at PTC INC..

Action: transitioned
Role: President and Chief Operating Officer

Exact text from the filing

On July 14, 2024, it was agreed that Michael DiTullio, who has served as President and Chief Operating Officer of PTC since February 2023, will, in culmination of the successful CEO succession process, transition from that role to that of strategic advisor to the Chief Executive Officer, with his last day of service as President and Chief Operating Officer being September 30, 2024.

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PTC INC. filing history →

Source: SEC EDGAR

accession 0000950170-24-083751

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