Pham Trac 4

What Happened
Trac Pham, a director of PTC Inc. (PTC), converted/exercised 1,181 derivative securities (time‑based restricted stock units) into 1,181 shares on March 15, 2026. The reported exercise/conversion price was $0, so no cash was paid. The filing shows both an acquisition (conversion to shares) and a corresponding derivative disposition entry for 1,181 units, which reflects the settlement/conversion of RSUs into common stock rather than an open‑market purchase or sale.

Key Details

• Transaction date: 2026-03-15; Filing date: 2026-03-16 (timely, next-day filing).
• Reported transactions: Acquired 1,181 shares @ $0.00 (conversion); Disposed 1,181 derivative securities @ $0.00 (conversion/settlement).
• Shares owned after transaction: Not specified in this filing.
• Footnotes: F1 — each restricted stock unit (RSU) equals a contingent right to one share; F2 — these were time‑based RSUs granted Mar 17, 2025 that vest in two installments (Mar 15, 2026 and Mar 15, 2027); F3 — number shown represents total derivative securities beneficially owned of the class.
• No cash sale or market transaction is reported here; no 10b5‑1 plan, tax‑withholding, or late‑filing flags were disclosed.

Context
This appears to be a routine vesting/settlement of time‑based RSUs (first installment of a two‑year vesting schedule) rather than a buy or sale signaling market sentiment. Because the exercise price is $0, the event reflects grant settlement rather than a funded option exercise. Retail investors typically view conversions of RSUs to shares as administrative compensation events unless accompanied by open‑market sales.