01—Abstract
Summary
Summary of the 8-K filed March 13, 2025. Cited figures are marked; the original filing is the authoritative source.
PTC Inc. filed this Form 8-K on March 13, 2025 under Item 5.02 (Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers) to report the appointment of a new director.
On March 9, 2025, the Board appointed Trac Pham as a director, effective March 17, 2025, and he was also named to the Audit Committee. Mr. Pham's background includes serving as Co-Chief Executive Officer of Sprinklr, Inc. from June 2024 to November 2024 and as Interim Chief Operating Officer of Sprinklr from January 2024 to June 2024. He previously served as Chief Financial Officer of Synopsys, Inc. from December 2014 to December 2022, overseeing finance, strategy, corporate business development, and information technology.
He also served on Sprinklr's Board of Directors from June 2023 to November 2024. For director service, Mr. Pham will receive compensation in line with outside directors (other than the Board Chair), prorated for the current service year.
This includes a $60,000a annual cash retainer, an annual RSU grant valued at approximately $250,000, and a one-time initial new director RSU grant valued at $375,000 vesting in two installments on March 15, 2026 and 2027. He will also receive a $15,000 prorated cash retainer for Audit Committee service.
02—Key points
Key Highlights
- Trac Pham appointed to PTC's Board of Directors, effective March 17, 2025, with the appointment made March 9, 2025
- Pham also appointed to the Audit Committee of the Board
- Pham's prior roles include Co-CEO of Sprinklr, Inc. (June to November 2024) and Interim COO of Sprinklr (January to June 2024)
- Previously served as CFO of Synopsys, Inc. from December 2014 to December 2022
- Annual cash retainer of $60,000, prorated for the current year
- Annual RSU grant valued at approximately $250,000, plus a one-time initial new director RSU grant valued at $375,000
- Audit Committee cash retainer of $15,000, prorated for the year
03—Questions
Frequently Asked Questions
Who was appointed to PTC's Board of Directors?
Trac Pham was appointed to the Board of Directors on March 9, 2025, effective March 17, 2025, and was also named to the Audit Committee.
What is Trac Pham's professional background?
Pham served as Co-Chief Executive Officer of Sprinklr, Inc. from June 2024 to November 2024 and as Interim Chief Operating Officer from January 2024 to June 2024. He was previously Chief Financial Officer of Synopsys, Inc. from December 2014 to December 2022, and served on Sprinklr's Board from June 2023 to November 2024. He holds a B.A. in Economics from the University of California, Berkeley and a Master of Pacific International Affairs from the University of California, San Diego.
How will Pham be compensated for board service?
He will receive compensation commensurate with outside directors other than the Board Chair, prorated for the year. This includes a $60,000 annual cash retainer, an annual RSU grant valued at approximately $250,000 that vests on the earlier of the 2026 Annual Meeting of Shareholders and March 15, 2026, and a one-time initial new director RSU grant valued at $375,000 vesting in two substantially equal installments on March 15, 2026 and 2027.
What additional compensation will Pham receive for Audit Committee service?
He will receive compensation commensurate with other Audit Committee members other than the Committee Chair, including a $15,000 cash retainer prorated for the year.
04—Continue