James Lico
PTCAbout James Lico
James A. Lico is a non-employee director of PTC, appointed effective October 13, 2025; he serves on PTC’s Corporate Governance Committee. He is 59, with a B.S. from the University of Michigan–Dearborn and a Master’s in Management from Northwestern University’s Kellogg School of Management. His background includes CEO-level leadership at Fortive Corporation (2016–2025) and senior executive roles at Danaher, AlliedSignal, and General Motors, and he currently serves on DuPont de Nemours, Inc.’s board. Tenure on PTC’s board began October 2025; independence classification was not explicitly stated in the appointment filing, but he is compensated as an outside director and assigned to an independent committee.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Fortive Corporation | President & Chief Executive Officer; Director | Jul 2016 – Jun 2025 | Led portfolio transformation post-separation from Danaher; grew revenue >$6B; oversaw separation of Precision Technologies segment into independent company Ralliant. |
| Danaher Corporation | Executive Vice President; multiple leadership positions across functions/businesses | 1996 – 2016; EVP 2005–2016 | Led global businesses across test/measurement and industrial technologies; multi-functional leadership experience. |
| AlliedSignal | Management positions | Not specified | Early operational/industrial experience. |
| General Motors | Management positions | Not specified | Early operational/manufacturing experience. |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| DuPont de Nemours, Inc. | Director | Since Jun 2024 | People & Compensation Committee; Environment, Health, Safety & Sustainability Committee. |
| Fortive Corporation | Advisor | Since Jun 2025 | Strategic advisory post-CEO tenure. |
Board Governance
- Committee assignment at PTC: Corporate Governance Committee member (not chair).
- PTC’s board is led by an independent Chair (Janice Chaffin). Committees (Audit, Compensation & People, Corporate Governance, Cybersecurity) are composed of independent directors per Nasdaq and SEC rules.
- 2024 board activity baseline: Board met six times; all directors met ≥80% attendance; Lico was not yet a director in 2024.
- Director stock ownership policy: Directors must hold stock equal to 5x annual board cash retainer; options and unvested equity do not count. Policy states all directors/officers met their requirements as of the proxy date; Lico joined after that date and his compliance is not disclosed yet.
- No hedging or pledging of PTC stock permitted for directors, officers, and employees; 10b5-1 plan preclearance required.
Fixed Compensation
| Component | Amount | Terms |
|---|---|---|
| Annual Board Cash Retainer | $60,000 (prorated for current service year) | Non-employee director cash retainer; outside director schedule (excludes Board Chair premium). |
| Annual Equity Retainer (RSUs) | ~$250,000 grant-date value (prorated) | RSUs vest on earlier of 2026 Annual Meeting of Shareholders or March 15, 2026. |
| Committee Member Cash Retainer (Corporate Governance) | $10,000 (prorated) | Standard committee member fee (excludes Committee Chair premium). |
Performance Compensation
- PTC does not use performance-based equity for directors; Lico’s awards are service-based RSUs with stated vesting schedules.
| Grant Type | Grant Date | Grant-Date Value | Vesting Schedule |
|---|---|---|---|
| New Director RSU Grant | Oct 2025 | $375,000 | Vests in two substantially equal installments on Oct 15, 2026 and Oct 15, 2027. |
| Annual Director RSU Retainer | Oct 2025 | ~$250,000 (prorated) | Vests on the earlier of the 2026 Annual Meeting or Mar 15, 2026. |
Note: 8-K disclosed dollar values, not RSU share counts; actual RSUs depend on grant-date share price.
Other Directorships & Interlocks
| Company | Industry Link to PTC | Role | Committees |
|---|---|---|---|
| DuPont de Nemours, Inc. | Industrial materials and chemicals; adjacency to manufacturing end-markets PTC serves (no PTC-DuPont transactions disclosed) | Director | People & Compensation; EHSS. |
| Fortive Corporation | Industrial technology and instrumentation; potential customer/supplier adjacency (no PTC-Fortive transactions disclosed) | Advisor; Former CEO/Director | N/A |
- Monitoring point: Industry adjacencies can create information-flow interlocks; PTC’s related-person transactions review process governs any such dealings (no Lico-related transactions disclosed in the latest proxy).
Expertise & Qualifications
- Executive leadership and operational excellence across global industrial/technology portfolios (Danaher EVP; Fortive CEO).
- Transformation, portfolio management, and M&A execution (post-separation scaling at Fortive; segment separation into Ralliant).
- Board governance and ESG oversight experience (DuPont People & Compensation; EHSS committees).
- Education: B.S., University of Michigan–Dearborn; Master’s in Management, Northwestern Kellogg.
Equity Ownership
- Initial equity alignment through service-based RSU grants (annual retainer and new director grant with multi-year vesting).
- Director Stock Ownership Policy: 5x annual cash retainer requirement; options and unvested equity excluded; compliance status for legacy directors was met at proxy date; Lico’s compliance post-appointment not disclosed.
- Hedging/pledging prohibited; trades require preclearance for directors.
Governance Assessment
- Strengths:
- Deep industrial technology and operational expertise likely additive to PTC’s manufacturing-focused software strategy.
- Independent committee placement (Corporate Governance) supports board oversight and refreshment processes.
- Multi-year, service-based RSU structure aligns director incentives with long-term shareholder value; robust ownership and no-hedge/pledge policies strengthen alignment.
- Watch items:
- External board at DuPont and advisory role at Fortive create industry adjacency; monitor any PTC commercial relationships to prevent related-party conflicts (none disclosed to date; PTC has formal related-person review).
- Attendance/engagement data for Lico will be first available in the next proxy; current baseline (2024) does not include him.
- Red flags: None disclosed regarding legal proceedings, hedging/pledging, or related-party transactions involving Lico.
Appendix: Source Notes
- Appointment and compensation details: PTC 8-K, Item 5.02, Oct 14, 2025.
- Press release announcing appointment and DuPont committee roles; Fortive transformation context: Oct 13, 2025.
- Board structure, independence, committee composition, policies, and director compensation framework: 2025 Proxy Statement (DEF 14A).