Pham Trac 4

What Happened
Director Pham Trac completed a vesting/conversion event and received a new RSU grant on February 11, 2026. The filing shows an exercise/conversion of 1,431 derivative units (reported as acquired at $0.00) and the corresponding disposition of 1,431 derivative units (conversion of the derivative). In addition, Pham was granted 1,703 time‑based restricted stock units (RSUs) at $0.00. No cash was reported as paid in connection with these transactions.

Key Details

• Transaction date: 2026-02-11 (reported on Form 4 filed 2026-02-12). Filing appears timely.
• Derivative exercise/conversion: 1,431 units exercised/converted at $0.00.
• Grant/award: 1,703 RSUs granted at $0.00.
• Footnotes:
  • F1: Each RSU represents a contingent right to one share.
  • F2: The 1,431 units relate to time-based RSUs granted March 17, 2025 that vested Feb 11, 2026.
  • F3: The 1,703 RSUs were granted Feb 11, 2026 and vest at the earlier of PTC’s 2027 Annual Meeting or March 15, 2027.
  • F4: Filing reports the total number of derivative securities beneficially owned (specific consolidated total not provided here).
• Shares owned after the transaction: not specified in the provided summary of the filing (see footnote F4 in the filing for the total derivative holdings).

Context
These transactions reflect a routine executive compensation/vesting cycle rather than an open‑market purchase or sale. The conversion of derivative units into shares (and related removal of the derivative instrument) is a common settlement when RSUs vest; the newly granted RSUs are time‑based and will vest in 2027 per the footnote. The filing does not show any immediate sale of the acquired underlying shares.