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Subsequent Events | 12 Months Ended
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Sep. 30, 2021
Subsequent Events [Abstract] |
Subsequent Events | 20. Subsequent Events Equity Grants In November 2021, we granted shares valued at approximately $20.5 million to our employees, including our executive officers ($3.1 million), in payment of amounts earned under our annual Corporate Incentive Plan. We also granted service-based restricted stock units (RSUs) valued at approximately $47.0 million to employees, including our executive officers ($11.1 million), and performance-based RSUs valued at approximately $18.2 million to employees, including our executive officers ($11.1 million). The service-based RSUs will generally vest in three substantially equal annual installments on November 15, 2022, 2023 and 2024. Half of the performance-based RSUs are eligible to vest based upon annual cash flow performance measures, measured over a three-year period and will vest in three substantially equal annual installments on November 15, 2022, 2023 and 2024. The other half are relative Total Shareholder Return RSUs which are eligible to vest based on the performance of PTC stock relative to the stock performance of an index of software and services companies for the period ending September 30, 2024 and will vest to the extent earned on November 15, 2024. Restructuring On November 3, 2021, we committed to a plan to restructure our workforce and consolidate select facilities to align our customer facing and product-related functions with SaaS industry best practices and accelerate the opportunity for our on-premise customers to move to the cloud. The expected savings from the restructuring will be re-invested in the business. The restructuring is expected to result in a charge and cash payments of approximately $45 million to $50 million in 2022. We anticipate additional cash restructuring payments of approximately $5 million related to past restructurings.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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