Corinna Lathan
PTCAbout Corinna Lathan
Dr. Corinna Lathan, age 57, is an independent director of PTC since 2017. She chairs the Cybersecurity Committee and serves on the Audit and Corporate Governance Committees; she is CEO of De Oro Devices (since January 2024) and previously co-founded and led AnthroTronix (1999–2022). She holds a Ph.D. in Neuroscience and an S.M. in Aeronautics & Astronautics from MIT and a B.A. in biopsychology and mathematics from Swarthmore; she also serves on the board of Ekso Bionics Holdings, Inc. .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| De Oro Devices | Chief Executive Officer | Jan 2024–Present | Biomedical device operator experience; tech-commercialization exposure |
| AnthroTronix, Inc. | CEO, Co-Founder, Chair of the Board | Jul 1999–Jun 2022 | Leadership in robotics, digital health, wearables, AR human-technology interfaces |
| University of Maryland, College Park | Adjunct Associate Professor, Aerospace Engineering | 1998–2003 | Academic research/teaching |
| The Catholic University of America | Associate Professor, Biomedical Engineering | 1995–1999 | Academic research/teaching |
External Roles
| Organization | Role | Tenure/Status | Notes |
|---|---|---|---|
| Ekso Bionics Holdings, Inc. | Director | Current | Listed as “Other Public Company Boards” for Dr. Lathan |
Board Governance
- Committee assignments: Audit (member), Corporate Governance (member), Cybersecurity (Chair). The Board has four standing committees; all committee members (including Dr. Lathan) are independent under Nasdaq rules .
- Independence: The Board determined all director nominees other than the CEO are independent; no business, financial, familial, or other relationships that would impair independence were disclosed for independent directors .
- Attendance: The Board met six times in 2024; all directors attended at least 80% of Board and committee meetings on which they served and attended the 2024 Annual Meeting of Shareholders .
- Committee activity (2024 meetings): Audit (8), Compensation & People (4), Corporate Governance (4), Cybersecurity (4) .
- Shareholder voting signal (2025 annual meeting): Dr. Lathan received 95,827,562 votes “For,” 11,975,820 “Withheld”; Say‑on‑Pay received 100,420,452 “For,” 6,925,471 “Against,” 457,459 “Abstain” .
Fixed Compensation
| Year | Fees Earned or Paid in Cash ($) | Stock Awards (#) | Stock Awards ($) | Total ($) |
|---|---|---|---|---|
| 2024 | 90,000 | 1,383 | 249,977 (grant-date FV) | 339,977 |
- Program design: Non-employee directors receive a mix of cash and equity retainers (no meeting fees). Retainers vary for Board Chair, committee chairs, and members; the Board Chair does not also receive committee-chair retainers. No changes were made to 2024 director compensation versus prior year .
- RSU grant mechanics: 2024 director RSUs granted on Feb 14, 2024 valued at $180.75 per share (closing price on grant date) .
Performance Compensation
- PTC does not disclose performance-based metrics for non-employee director pay; director equity is service-based RSUs (no meeting fees, no performance goals) .
Other Directorships & Interlocks
| Company | Relationship to PTC | Potential Interlock/Conflict |
|---|---|---|
| Ekso Bionics Holdings, Inc. (public) | None disclosed as customer/supplier; listed only as other board seat | No related‑party transactions involving Dr. Lathan disclosed in PTC’s proxy; related‑party section lists a transaction concerning a former CEO’s family member, not involving Dr. Lathan . |
Expertise & Qualifications
- Key qualifications cited by PTC: leadership and technology innovation through AnthroTronix; deep expertise in human-technology interfaces for robotics and mobile platforms; significant experience in augmented reality and related technologies .
- Skills coverage (board skills matrix narrative): Research & Development, Software Industry, Financial, Global, Strategy, Leadership featured across nominees; Dr. Lathan’s profile emphasizes R&D and emerging tech .
Equity Ownership
| Item | Amount | Notes |
|---|---|---|
| Beneficial ownership (as of Nov 30, 2024) | 6,843 shares | “Less than 1%” of outstanding; table basis uses 120,446,852 shares outstanding plus specified RSUs for CEO . |
| RSUs outstanding (as of Sep 30, 2024) | 1,383 RSUs | No director held options as of that date . |
| Hedging/Pledging | Prohibited | No short sales, hedging, margin, or pledging permitted for directors, officers, employees . |
| Stock ownership guideline | 5x annual Board cash retainer | PTC reports all directors meet guidelines . |
Recent Insider Trades (Form 4)
| Filing Date | Transaction Date | Type | Shares | Price ($) | Post-Transaction Ownership | Source |
|---|---|---|---|---|---|---|
| 2025-03-19 | 2025-03-17 | Sale (S) | 622 | 155.53 | 7,604 | https://www.sec.gov/Archives/edgar/data/857005/000165495425003007/0001654954-25-003007-index.htm |
| 2025-02-13 | 2025-02-12 | Exempt (M) – RSU vest | 1,383 | 0.00 | 8,226 | https://www.sec.gov/Archives/edgar/data/857005/000165495425001470/0001654954-25-001470-index.htm |
Governance Assessment
- Board effectiveness and engagement: Independent status, multi-committee workload, and Cybersecurity Committee chair role support strong oversight in a high-risk domain (data privacy, cyber) relevant to PTC; attendance meets policy expectations and board/committee activity levels are robust .
- Alignment and safeguards: Meaningful personal share ownership, compliance with 5x retainer guideline, and strict prohibition on hedging/pledging reinforce alignment with shareholders and reduce risk-taking misalignment .
- Shareholder support signals: Solid vote support for her re-election and strong Say‑on‑Pay approval indicate investor confidence in governance and pay practices at the 2025 meeting .
- Conflicts/related-party risk: No related‑party transactions involving Dr. Lathan are disclosed; PTC’s policy routes such matters through the Audit Committee for review/approval, mitigating conflict risk .
- Compensation structure (director): Balanced cash/equity retainer without meeting fees; equity delivered via RSUs (service-based) aligns with long-term value without introducing director‑level performance metric gaming risk .
RED FLAGS: None identified specific to Dr. Lathan in PTC’s 2025 proxy and 2025 annual meeting disclosures. Small discretionary selling following RSU vesting was observed; volumes appear modest relative to holdings and within policy (with pre-clearance required) (Form 4 sales and vesting as shown above).