Katz Michal 4

What Happened

• Michal Katz, a director of PTC Inc. (PTC), had 1,500 derivative units convert into shares on Feb 11, 2026 (reported as an "M" exercise/conversion). The filing also shows a simultaneous disposition of 1,500 shares at $0.00. On the same date she was granted 1,703 restricted stock units (RSUs) (reported as an "A" award) at $0.00.
• There is no cash price or market-value sale reported for these items (all transactions show $0.00). The 1,500 conversion relates to vested time-based RSUs (granted Feb 12, 2025) that vested Feb 11, 2026; the new 1,703 RSUs were granted Feb 11, 2026 and vest in 2027 per the filing.

Key Details

• Transaction date: Feb 11, 2026. Transaction codes: M = exercise/conversion of derivative; A = award/grant.
• Quantity: 1,500 converted (acquired) and 1,500 disposed (both $0.00); 1,703 RSUs granted ($0.00).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Relevant footnotes:
  • F1: Each RSU is a contingent right to one share.
  • F2: The 1,500 converted units were time-based 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: The filing reports totals of derivative securities beneficially owned (amount not included here).
• Filing timeliness: Reported Feb 12, 2026 for Feb 11 transactions — filed within the typical two-business-day Form 4 window (not marked late).

Context

• The "M" conversion of vested RSUs into shares followed by an immediate disposition at $0.00 is a pattern commonly used to satisfy tax withholding or settlement obligations; the filing itself does not state the reason.
• The 1,703 RSUs are a grant (not an immediate purchase) and will vest in 2027 per the schedule; such awards are compensation, not open-market insider buying or selling.
• These transactions are routine equity compensation activity for an officer/director and do not by themselves indicate a change in insider sentiment.