01—Abstract
Summary
Summary of the 8-K filed October 14, 2025. Cited figures are marked; the original filing is the authoritative source.
PTC Inc. filed a Form 8-K on October 14, 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.
James Lico was appointed to the Board of Directors effective October 13, 2025, having been appointed on October 10, 2025, and was also named to the Corporate Governance Committee of the Board. The filing describes Mr. Lico's background: he served as President and Chief Executive Officer and a board member of Fortive Corporation from July 2016 to June 2025, currently serves as an advisor to Fortive, spent his earlier career at Danaher Corporation from 1996 (including as Executive Vice President from 2005 to 2016), and has served on the board of DuPont de Nemours, Inc. since June 2024. He is 59 years old and holds a Bachelor of Science from the University of Michigan – Dearborn and a Master's in Management from Northwestern University – Kellogg School of Management.
Compensation for Mr. Lico is aligned with PTC's outside directors (other than the Board Chair) and is prorated for the current service year. It includes a $60,000a annual cash retainer, an annual equity retainer of RSUs valued at approximately $250,000, and a one-time initial new director RSU grant valued at $375,000 that vests in two substantially equal installments on October 15, 2026 and 2027. He will also receive a $10,000 cash retainer for his Corporate Governance Committee service, prorated for the service year.
02—Key points
Key Highlights
- James Lico appointed to PTC's Board of Directors, effective October 13, 2025 (appointed October 10, 2025).
- Lico also appointed to the Board's Corporate Governance Committee.
- Lico was President and CEO and a board member of Fortive Corporation from July 2016 to June 2025, and currently serves as an advisor to Fortive.
- Prior career at Danaher Corporation from 1996, including service as Executive Vice President from 2005 to 2016.
- Director compensation includes a $60,000 annual cash retainer and an annual RSU retainer of approximately $250,000, both prorated for the service year.
- One-time initial new director RSU grant valued at $375,000, vesting in two substantially equal installments on October 15, 2026 and 2027.
- Additional $10,000 cash retainer for Corporate Governance Committee service, prorated for the service year.
03—Questions
Frequently Asked Questions
Who was appointed to PTC's Board of Directors?
James Lico was appointed to the Board of Directors on October 10, 2025, effective October 13, 2025, and was also appointed to the Corporate Governance Committee.
What is Mr. Lico's professional background?
He was President and CEO and a board member of Fortive Corporation from July 2016 to June 2025 and currently serves as an advisor to Fortive. Before July 2016, he held leadership roles at Danaher Corporation, which he joined in 1996, including Executive Vice President from 2005 to 2016. He has served on the board of DuPont de Nemours, Inc. since June 2024.
How is Mr. Lico compensated for his board service?
He receives a prorated annual cash retainer of $60,000 and an annual RSU equity retainer valued at approximately $250,000 on the grant date, which vests on the earlier of the 2026 Annual Meeting of Shareholders and March 15, 2026. He also receives a one-time initial new director RSU grant valued at $375,000, vesting in two substantially equal installments on October 15, 2026 and 2027.
What additional compensation will Mr. Lico receive for committee service?
For his service on the Corporate Governance Committee, he will receive a cash retainer of $10,000, prorated for the service year, commensurate with other committee members other than the Committee Chair.
What education does Mr. Lico have?
He holds a Bachelor of Science from the University of Michigan – Dearborn and a Master's in Management from Northwestern University – Kellogg School of Management.
04—Continue