secwatch.observer — SEC 8-K summary
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Issuer:     PTC INC. (PTC)
CIK:        0000857005
Form:       8-K
Filed at:   2024-07-16T23:59:59+00:00
Accession:  0000950170-24-083751
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/857005/000095017024083751/0000950170-24-083751-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/857005/000095017024083751/ptc-20240714.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-083751

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer