PTC appoints Neil Barua CEO-elect, effective Feb 2024; Heppelmann becomes Chairman

PTC INC.

Neil Barua, formerly President of SLM Business Unit, named CEO-elect; will succeed James Heppelmann after Feb 14, 2024 annual meeting.
Barua appointed to board effective July 27, 2023; Heppelmann named Chairman, Janice Chaffin appointed Lead Independent Director.
Barua's salary increased to $800k, target bonus 150% of base; receives $5M RSU grant (3-year vest) and $11M FY24 equity award.
Barua to receive $200k after-tax relocation payment to Boston; enters executive agreement with change-in-control and severance protections.

item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

James Heppelmann

Chief Executive Officer

PTC · PTC INC.

Effective: 2024-02-14
Successor: Neil Barua
Filed: July 26, 2023, 7:59 PM ET

Mr. Barua will replace James Heppelmann who, as part of the Board of Directors’ CEO succession plan, will step down from his role as Chief Executive Officer on the Effective Date.

Appointed

Neil Barua

Chief Executive Officer

PTC · PTC INC.

Effective: 2024-02-14
Filed: July 26, 2023, 7:59 PM ET

On July 26, 2023, PTC Inc. (“PTC” or the “Company”) announced that Neil Barua will be appointed Chief Executive Officer of PTC effective as of the close of PTC’s 2024 Annual Meeting of Stockholders, which is expected to be held on February 14, 2024 (the “Effective Date”).

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

James Heppelmann departed as Chief Executive Officer at PTC INC..

Action: step down
Role: Chief Executive Officer

Exact text from the filing

Mr. Barua will replace James Heppelmann who, as part of the Board of Directors’ CEO succession plan, will step down from his role as Chief Executive Officer on the Effective Date.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Neil Barua was appointed as Chief Executive Officer at PTC INC..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

On July 26, 2023, PTC Inc. (“PTC” or the “Company”) announced that Neil Barua will be appointed Chief Executive Officer of PTC effective as of the close of PTC’s 2024 Annual Meeting of Stockholders, which is expected to be held on February 14, 2024 (the “Effective Date”).

View on SEC.gov

PTC INC. filing history →

Source: SEC EDGAR

accession 0001193125-23-194613

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