CHAFFIN JANICE 4

What Happened

• Janice Chaffin, a director of PTC Inc. (PTC), had 1,801 derivative shares converted/exercised on Feb 11, 2026 (reported as code M) and those 1,801 shares were simultaneously disposed (also code M). On the same date she received a grant of 1,703 time‑based restricted stock units (RSUs) (code A). All transactions show $0.00 per-share consideration in the filing.

Key Details

• Transaction date: Feb 11, 2026; Form 4 filed Feb 12, 2026 (appears timely).
• Conversions/exercise: 1,801 shares (M) acquired at $0.00 and 1,801 shares (M) disposed at $0.00.
• Grant/award: 1,703 RSUs (A) granted at $0.00; these are time‑based RSUs that vest per the filing.
• Footnotes: F1—each RSU equals a contingent right to one share; F2—the 1,801 units were from RSUs granted Feb 12, 2025 that vested Feb 11, 2026; F3—the 1,703 RSUs were granted Feb 11, 2026 and vest by PTC’s 2027 annual meeting or March 15, 2027; F4—indicates the filing reports total derivative securities beneficially owned.
• Shares owned after transaction: The filing shows the newly granted 1,703 RSUs as outstanding; the 1,801 vested units were converted and disposed per the report, so there was no net increase in vested shares from that conversion in this filing.

Context

• RSUs are derivative awards that convert into common shares only upon vesting (F1). The filing records both a conversion/disposition event (M) and a new RSU grant (A). The Form 4 does not state the reason for the immediate disposition of the converted shares (e.g., tax withholding or sale), so no motivation is inferred.