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Pay vs Performance Disclosure
pure in Millions
 12 Months Ended
Sep. 30, 2024
USD ($)
Sep. 30, 2023
USD ($)
Sep. 30, 2022
USD ($)
Sep. 30, 2021
USD ($)
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table
Pay versus Performance Disclosure
The following table has been prepared in accordance with the SEC’s pay versus performance (“PvP”) rules. The PvP rules create a definition of pay, referred to as Compensation Actually Paid (“CAP”), which is compared to certain performance measures as required by the SEC. In determining CAP for our principal executive officer (our “PEO”) and our named executive officers, we are required to make various adjustments to amounts reported in the Summary Compensation Table for this year and in previous years, as the SEC’s valuation methods for this section differ from those required for the Summary Compensation Table. The CAP data reflected
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
2024
Highlights
​ ​
Proxy
Summary
​ ​
Corporate
Governance
​ ​
Executive
Compensation
​ ​
Auditor
Matters
​ ​
PTC Stock
Ownership
​ ​
Annual Meeting
Information
​ ​
Other
Governance
​ ​
Appendix A
​
in the table below may not reflect amounts actually realized or that will be realized by our named executive officers. A significant portion of the CAP amounts shown relates to changes in values of unvested awards over the course of the reporting year. These unvested awards remain subject to significant risk from forfeiture conditions and possible future changes in value based on changes in our stock price.
The Compensation and People Committee does not use CAP as the basis for making compensation decisions. Refer to Compensation Discussion and Analysis above to understand how the Committee makes compensation decisions.
​
Year
​ ​ ​
Summary
Compensation
Table
Total for
First PEO
(Heppelmann)(1)
​ ​ ​
Summary
Compensation
Table
Total for
Second PEO
(Barua)(2)
​ ​ ​
Compensation
Actually
Paid to
First PEO
(Heppelmann)(1)
​ ​ ​
Compensation
Actually
Paid to
Second PEO
(Barua)(2)
​ ​ ​
Average
Summary
Compensation
Table Total
for Non-PEO
Named
Executive
Officers(3)(7)
​ ​ ​
Average
Compensation
Actually Paid
to Non-PEO
Named
Executive
Officers(3)
​ ​ ​
Value of Initial Fixed $100
Investment Based On:
​ ​ ​
Net
Income
(in Millions)(5)
​ ​ ​
Free
Cash Flow
(in Millions)(6)
​
​
Total
Shareholder
Return
​ ​ ​
Peer Group
Total
Shareholder
Return(4)
​ ​
​
2024
​ ​ ​ ​ $ 13,452,534 ​ ​ ​ ​ ​ $ 16,399,903 ​ ​ ​ ​ ​ $ 18,794,144 ​ ​ ​ ​ ​ $ 20,100,143 ​ ​ ​ ​ ​ $ 6,151,234 ​ ​ ​ ​ ​ $ 7,980,418 ​ ​ ​ ​ ​ $ 218.40 ​ ​ ​ ​ ​ $ 222.15 ​ ​ ​ ​ ​ $ 376.3 ​ ​ ​ ​ ​ $ 735.6 ​ ​
​
2023
​ ​ ​ ​ $ 15,617,171 ​ ​ ​ ​ ​ ​ N/A ​ ​ ​ ​ ​ $ 32,849,065 ​ ​ ​ ​ ​ ​ N/A ​ ​ ​ ​ ​ $ 7,940,226 ​ ​ ​ ​ ​ $ 9,964,001 ​ ​ ​ ​ ​ $ 171.28 ​ ​ ​ ​ ​ $ 145.51 ​ ​ ​ ​ ​ $ 245.5 ​ ​ ​ ​ ​ $ 587.0 ​ ​
​
2022
​ ​ ​ ​ $ 12,887,115 ​ ​ ​ ​ ​ ​ N/A ​ ​ ​ ​ ​ $ 10,443,199 ​ ​ ​ ​ ​ ​ N/A ​ ​ ​ ​ ​ $ 3,899,861 ​ ​ ​ ​ ​ $ 4,250,523 ​ ​ ​ ​ ​ $ 126.45 ​ ​ ​ ​ ​ $ 103.12 ​ ​ ​ ​ ​ $ 313.1 ​ ​ ​ ​ ​ $ 415.8 ​ ​
​
2021
​ ​ ​ ​ $ 13,048,375 ​ ​ ​ ​ ​ ​ N/A ​ ​ ​ ​ ​ $ 43,610,760 ​ ​ ​ ​ ​ ​ N/A ​ ​ ​ ​ ​ $ 4,349,703 ​ ​ ​ ​ ​ $ 6,216,716 ​ ​ ​ ​ ​ $ 144.81 ​ ​ ​ ​ ​ $ 128.90 ​ ​ ​ ​ ​ $ 476.9 ​ ​ ​ ​ ​ $ 344.1 ​ ​
(1)
Mr. Heppelmann served as our PEO during 2021 and through February 13, 2024 (“First PEO”). Amounts deducted from the Summary Compensation Table (“SCT”) total to calculate Compensation Actually Paid (“CAP”) to the First PEO for the years 2024, 2023, 2022 and 2021, respectively, include ($7,976,693), ($13,036,021), ($10,350,834), and ($11,127,621) for the grant date fair value of stock awards. Amounts added to (or subtracted from) the SCT for the years 2024, 2023, 2022 and 2021, respectively also include: $0, $13,133,317, $10,347,649 and $14,917,434 for the fair value of stock awards that were granted in the year and remain outstanding at the end of each respective year; $0, $9,348,375, ($2,517,223) and $25,326,040 for the change in fair value of stock awards that were granted in prior years and remain outstanding at the end of each respective year; $9,368,540 for the fair value of stock awards that were granted and vested in the same year for 2024; and $3,949,763, $7,786,223, $76,493 and $1,446,533 for the change in fair value of stock awards that were granted in prior years and vested during each respective year.
​
(2)
Mr. Barua has served as our PEO since February 14, 2024 (“Second PEO”). Amounts deducted from the SCT total to calculate CAP to the Second PEO for 2024 include ($13,968,399) for the grant date fair value of stock awards. Amounts added to (or subtracted from) the SCT for 2024 also include: $14,988,992 for the fair value of stock awards that were granted in the year and remain outstanding at the end of the year; $2,083,637 for the change in fair value of stock awards that were granted in prior years and remain outstanding at the end of the year; and $596,009 for the change in fair value of stock awards that were granted in prior years and vested during the year.
​
(3)
For 2024, Kristian Talvitie, Michael DiTullio, Catherine Kniker, and Aaron von Staats were the Non-PEO NEOs. For 2023, Neil Barua, Kristian Talvitie, Michael DiTullio, and Aaron von Staats were the Non-PEO NEOs. For 2022, Kristian Talvitie, Michael DiTullio, Catherine Kniker, Aaron von Staats, and Troy Richardson were the Non-PEO NEOs. For 2021, Kristian Talvitie, Michael DiTullio, Aaron von Staats, Troy Richardson, and Kathleen Mitford were the Non-PEO NEOs. Amounts deducted from the Average SCT total to calculate Average CAP to the Non-PEO NEOs for the years 2024, 2023, 2022 and 2021, respectively, include ($4,761,836), ($6,724,363), ($2,803,755), and ($3,486,115) for the average grant date fair value of stock awards. Amounts added to (or subtracted from) the Average SCT for the years 2024, 2023, 2022 and 2021, respectively also include: $5,109,749, $6,153,271, $2,935,187 and $3,921,434 for the average fair value of stock awards that were granted in the year and remain outstanding at the end of each respective year; $1,138,447, $936,590, $228,247 and $1,478,895 for the average change in fair value of stock awards that were granted in prior years and remain outstanding at the end of each respective year; $342,825, $862,031, ($9,017) and $359,468 for the average change in fair value of stock awards that were granted in prior years and vested during each respective year; in 2023, $796,247 for the average fair value of stock awards that were granted in and vested during 2023 (related to Neil Barua’s replacement of unvested equity in ServiceMax, Inc. upon our acquisition of ServiceMax in January 2023); and in 2021, ($406,668) for the average fair value of stock awards that were granted in prior years and failed to meet the applicable vesting conditions in 2021 (related to the cancellation of Kathleen Mitford’s outstanding and unvested stock awards upon her resignation from PTC in May 2021).
​
(4)
The peer group used for the Peer Group Total Shareholder Return was the S&P 500 Information Technology Index.
​
(5)
As reported in our Consolidated Statements of Operations for the applicable fiscal reporting year, as provided under Part II Item 8 of our Annual Report on Form 10-K.
​
(6)
We have identified free cash flow as the Company-selected measure to be included in this table, as it represents the most important financial performance measure, not otherwise required to be disclosed in the table, used to link CAP to our executive
​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
2024
Highlights
​ ​
Proxy
Summary
​ ​
Corporate
Governance
​ ​
Executive
Compensation
​ ​
Auditor
Matters
​ ​
PTC Stock
Ownership
​ ​
Annual Meeting
Information
​ ​
Other
Governance
​ ​
Appendix A
​
officers to our performance. See Appendix A for the definition of free cash flow, a non-GAAP financial measure, and its reconciliation to the most directly comparable GAAP measure.
(7)
The Average Summary Compensation Table Total for Non-PEO Named Executive Officers in 2023 reflects a change in value from $7,935,291 to $7,940,226 due to an incorrect calculation.
     
Company Selected Measure Name free cash flow      
Named Executive Officers, Footnote
(1)
Mr. Heppelmann served as our PEO during 2021 and through February 13, 2024 (“First PEO”). Amounts deducted from the Summary Compensation Table (“SCT”) total to calculate Compensation Actually Paid (“CAP”) to the First PEO for the years 2024, 2023, 2022 and 2021, respectively, include ($7,976,693), ($13,036,021), ($10,350,834), and ($11,127,621) for the grant date fair value of stock awards. Amounts added to (or subtracted from) the SCT for the years 2024, 2023, 2022 and 2021, respectively also include: $0, $13,133,317, $10,347,649 and $14,917,434 for the fair value of stock awards that were granted in the year and remain outstanding at the end of each respective year; $0, $9,348,375, ($2,517,223) and $25,326,040 for the change in fair value of stock awards that were granted in prior years and remain outstanding at the end of each respective year; $9,368,540 for the fair value of stock awards that were granted and vested in the same year for 2024; and $3,949,763, $7,786,223, $76,493 and $1,446,533 for the change in fair value of stock awards that were granted in prior years and vested during each respective year.
​
(2)
Mr. Barua has served as our PEO since February 14, 2024 (“Second PEO”). Amounts deducted from the SCT total to calculate CAP to the Second PEO for 2024 include ($13,968,399) for the grant date fair value of stock awards. Amounts added to (or subtracted from) the SCT for 2024 also include: $14,988,992 for the fair value of stock awards that were granted in the year and remain outstanding at the end of the year; $2,083,637 for the change in fair value of stock awards that were granted in prior years and remain outstanding at the end of the year; and $596,009 for the change in fair value of stock awards that were granted in prior years and vested during the year.
​
(3)
For 2024, Kristian Talvitie, Michael DiTullio, Catherine Kniker, and Aaron von Staats were the Non-PEO NEOs. For 2023, Neil Barua, Kristian Talvitie, Michael DiTullio, and Aaron von Staats were the Non-PEO NEOs. For 2022, Kristian Talvitie, Michael DiTullio, Catherine Kniker, Aaron von Staats, and Troy Richardson were the Non-PEO NEOs. For 2021, Kristian Talvitie, Michael DiTullio, Aaron von Staats, Troy Richardson, and Kathleen Mitford were the Non-PEO NEOs. Amounts deducted from the Average SCT total to calculate Average CAP to the Non-PEO NEOs for the years 2024, 2023, 2022 and 2021, respectively, include ($4,761,836), ($6,724,363), ($2,803,755), and ($3,486,115) for the average grant date fair value of stock awards. Amounts added to (or subtracted from) the Average SCT for the years 2024, 2023, 2022 and 2021, respectively also include: $5,109,749, $6,153,271, $2,935,187 and $3,921,434 for the average fair value of stock awards that were granted in the year and remain outstanding at the end of each respective year; $1,138,447, $936,590, $228,247 and $1,478,895 for the average change in fair value of stock awards that were granted in prior years and remain outstanding at the end of each respective year; $342,825, $862,031, ($9,017) and $359,468 for the average change in fair value of stock awards that were granted in prior years and vested during each respective year; in 2023, $796,247 for the average fair value of stock awards that were granted in and vested during 2023 (related to Neil Barua’s replacement of unvested equity in ServiceMax, Inc. upon our acquisition of ServiceMax in January 2023); and in 2021, ($406,668) for the average fair value of stock awards that were granted in prior years and failed to meet the applicable vesting conditions in 2021 (related to the cancellation of Kathleen Mitford’s outstanding and unvested stock awards upon her resignation from PTC in May 2021).
     
Peer Group Issuers, Footnote
(4)
The peer group used for the Peer Group Total Shareholder Return was the S&P 500 Information Technology Index.
     
Adjustment To PEO Compensation, Footnote
(1)
Mr. Heppelmann served as our PEO during 2021 and through February 13, 2024 (“First PEO”). Amounts deducted from the Summary Compensation Table (“SCT”) total to calculate Compensation Actually Paid (“CAP”) to the First PEO for the years 2024, 2023, 2022 and 2021, respectively, include ($7,976,693), ($13,036,021), ($10,350,834), and ($11,127,621) for the grant date fair value of stock awards. Amounts added to (or subtracted from) the SCT for the years 2024, 2023, 2022 and 2021, respectively also include: $0, $13,133,317, $10,347,649 and $14,917,434 for the fair value of stock awards that were granted in the year and remain outstanding at the end of each respective year; $0, $9,348,375, ($2,517,223) and $25,326,040 for the change in fair value of stock awards that were granted in prior years and remain outstanding at the end of each respective year; $9,368,540 for the fair value of stock awards that were granted and vested in the same year for 2024; and $3,949,763, $7,786,223, $76,493 and $1,446,533 for the change in fair value of stock awards that were granted in prior years and vested during each respective year.
​
(2)
Mr. Barua has served as our PEO since February 14, 2024 (“Second PEO”). Amounts deducted from the SCT total to calculate CAP to the Second PEO for 2024 include ($13,968,399) for the grant date fair value of stock awards. Amounts added to (or subtracted from) the SCT for 2024 also include: $14,988,992 for the fair value of stock awards that were granted in the year and remain outstanding at the end of the year; $2,083,637 for the change in fair value of stock awards that were granted in prior years and remain outstanding at the end of the year; and $596,009 for the change in fair value of stock awards that were granted in prior years and vested during the year.
​
      
Non-PEO NEO Average Total Compensation Amount $ 6,151,234 $ 7,940,226 $ 3,899,861 $ 4,349,703
Non-PEO NEO Average Compensation Actually Paid Amount $ 7,980,418 9,964,001 4,250,523 6,216,716
Adjustment to Non-PEO NEO Compensation Footnote
(3)
For 2024, Kristian Talvitie, Michael DiTullio, Catherine Kniker, and Aaron von Staats were the Non-PEO NEOs. For 2023, Neil Barua, Kristian Talvitie, Michael DiTullio, and Aaron von Staats were the Non-PEO NEOs. For 2022, Kristian Talvitie, Michael DiTullio, Catherine Kniker, Aaron von Staats, and Troy Richardson were the Non-PEO NEOs. For 2021, Kristian Talvitie, Michael DiTullio, Aaron von Staats, Troy Richardson, and Kathleen Mitford were the Non-PEO NEOs. Amounts deducted from the Average SCT total to calculate Average CAP to the Non-PEO NEOs for the years 2024, 2023, 2022 and 2021, respectively, include ($4,761,836), ($6,724,363), ($2,803,755), and ($3,486,115) for the average grant date fair value of stock awards. Amounts added to (or subtracted from) the Average SCT for the years 2024, 2023, 2022 and 2021, respectively also include: $5,109,749, $6,153,271, $2,935,187 and $3,921,434 for the average fair value of stock awards that were granted in the year and remain outstanding at the end of each respective year; $1,138,447, $936,590, $228,247 and $1,478,895 for the average change in fair value of stock awards that were granted in prior years and remain outstanding at the end of each respective year; $342,825, $862,031, ($9,017) and $359,468 for the average change in fair value of stock awards that were granted in prior years and vested during each respective year; in 2023, $796,247 for the average fair value of stock awards that were granted in and vested during 2023 (related to Neil Barua’s replacement of unvested equity in ServiceMax, Inc. upon our acquisition of ServiceMax in January 2023); and in 2021, ($406,668) for the average fair value of stock awards that were granted in prior years and failed to meet the applicable vesting conditions in 2021 (related to the cancellation of Kathleen Mitford’s outstanding and unvested stock awards upon her resignation from PTC in May 2021).
     
Tabular List, Table
Performance Measures
We consider the list below to be our most important metrics that link compensation paid to our PEO and other Named Executive Officers to our performance, as they are the key metrics that determine the payouts under our annual Corporate Incentive Plan and Performance-Based RSUs.
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Free Cash Flow
​
​
Adjusted Free Cash Flow
​
​
Annual Run Rate (ARR)
​
​
Relative TSR
​
     
Total Shareholder Return Amount $ 218.4 171.28 126.45 144.81
Peer Group Total Shareholder Return Amount 222.15 145.51 103.12 128.9
Net Income (Loss) $ 376,300,000 $ 245,500,000 $ 313,100,000 $ 476,900,000
Company Selected Measure Amount 735.6 587.0 415.8 344.1
Non-PEO NEO Average Total Compensation Amount, Before Error Correction $ 7,935,291      
Measure:: 1        
Pay vs Performance Disclosure        
Name Free Cash Flow      
Non-GAAP Measure Description
(6)
We have identified free cash flow as the Company-selected measure to be included in this table, as it represents the most important financial performance measure, not otherwise required to be disclosed in the table, used to link CAP to our executive
​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
2024
Highlights
​ ​
Proxy
Summary
​ ​
Corporate
Governance
​ ​
Executive
Compensation
​ ​
Auditor
Matters
​ ​
PTC Stock
Ownership
​ ​
Annual Meeting
Information
​ ​
Other
Governance
​ ​
Appendix A
​
officers to our performance. See Appendix A for the definition of free cash flow, a non-GAAP financial measure, and its reconciliation to the most directly comparable GAAP measure.
     
Measure:: 2        
Pay vs Performance Disclosure        
Name Adjusted Free Cash Flow      
Measure:: 3        
Pay vs Performance Disclosure        
Name Annual Run Rate (ARR)      
Measure:: 4        
Pay vs Performance Disclosure        
Name Relative TSR      
Heppelmann [Member]        
Pay vs Performance Disclosure        
PEO Total Compensation Amount $ 13,452,534 $ 15,617,171 $ 12,887,115 $ 13,048,375
PEO Actually Paid Compensation Amount $ 18,794,144 $ 32,849,065 $ 10,443,199 $ 43,610,760
PEO Name Mr. Heppelmann      
Neil Barua [Member]        
Pay vs Performance Disclosure        
PEO Total Compensation Amount $ 16,399,903      
PEO Actually Paid Compensation Amount $ 20,100,143      
PEO Name Mr. Barua      
Non-PEO Name   Neil Barua    
Kristian Talvite [Member]        
Pay vs Performance Disclosure        
Non-PEO Name Kristian Talvitie Kristian Talvitie Kristian Talvitie Kristian Talvitie
Michael DiTullio [Member]        
Pay vs Performance Disclosure        
Non-PEO Name Michael DiTullio Michael DiTullio Michael DiTullio Michael DiTullio
Catherine Kniker [Member]        
Pay vs Performance Disclosure        
Non-PEO Name Catherine Kniker   Catherine Kniker  
Aaron Von Staats [Member]        
Pay vs Performance Disclosure        
Non-PEO Name Aaron von Staats Aaron von Staats Aaron von Staats Aaron von Staats
Troy Richardson [Member]        
Pay vs Performance Disclosure        
Non-PEO Name     Troy Richardson Troy Richardson
Kathleen Mitford [Member]        
Pay vs Performance Disclosure        
Non-PEO Name       Kathleen Mitford
PEO | Heppelmann [Member] | Equity Awards Value In Summary Compensation Table (Grant Date Value) [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (7,976,693) $ (13,036,021) $ (10,350,834) $ (11,127,621)
PEO | Heppelmann [Member] | Year-end Fair Value Of Awards Granted In The Current Fiscal Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 13,133,317 10,347,649 14,917,434
PEO | Heppelmann [Member] | Change In Fair Value Of Outstanding And Unvested Awards Granted In Prior Fiscal Years [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 9,348,375 (2,517,223) 25,326,040
PEO | Heppelmann [Member] | Change In Fair Value As Of Vesting Date Of Current Year Awards Vested During Current Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 9,368,540      
PEO | Heppelmann [Member] | Change In Fair Value As Of Vesting Date Of Prior Year Awards Vested During Current Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 3,949,763 7,786,223 76,493 1,446,533
PEO | Neil Barua [Member] | Equity Awards Value In Summary Compensation Table (Grant Date Value) [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (13,968,399)      
PEO | Neil Barua [Member] | Year-end Fair Value Of Awards Granted In The Current Fiscal Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 14,988,992      
PEO | Neil Barua [Member] | Change In Fair Value Of Outstanding And Unvested Awards Granted In Prior Fiscal Years [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 2,083,637      
PEO | Neil Barua [Member] | Change In Fair Value As Of Vesting Date Of Prior Year Awards Vested During Current Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 596,009      
Non-PEO NEO | Equity Awards Value In Summary Compensation Table (Grant Date Value) [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (4,761,836) (6,724,363) (2,803,755) (3,486,115)
Non-PEO NEO | Year-end Fair Value Of Awards Granted In The Current Fiscal Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 5,109,749 6,153,271 2,935,187 3,921,434
Non-PEO NEO | Change In Fair Value Of Outstanding And Unvested Awards Granted In Prior Fiscal Years [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,138,447 936,590 228,247 1,478,895
Non-PEO NEO | Change In Fair Value As Of Vesting Date Of Current Year Awards Vested During Current Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount   796,247    
Non-PEO NEO | Change In Fair Value As Of Vesting Date Of Prior Year Awards Vested During Current Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 342,825 $ 862,031 $ (9,017) 359,468
Non-PEO NEO | Adjustments For Equity Awards Failed To Meet Performance Conditions [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount       $ (406,668)