secwatch.observer — SEC 8-K summary
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Issuer:     PTC INC. (PTC)
CIK:        0000857005
Form:       8-K
Filed at:   2023-07-26T23:59:59+00:00
Accession:  0001193125-23-194613
Event type: leadership
Sentiment:  neutral
Materiality: 0.70
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/857005/000119312523194613/0001193125-23-194613-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/857005/000119312523194613/d398527d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-194613

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