Robert Dahdah
PTCAbout Robert Dahdah
Robert Dahdah, age 56, is Executive Vice President and Chief Revenue Officer (CRO) at PTC, serving since December 2024. He previously led industry and partner sales for Health & Life Sciences at Microsoft (Aug 2023–Dec 2024), served as CRO at Nuance Communications (Apr 2019–Aug 2023), and was EVP of Global Sales at BenefitFocus (Jul 2017–Apr 2019) . PTC’s compensation framework ties executive pay to free cash flow (CIP), ARR growth (operating PSUs), and three-year relative TSR (rTSR PSUs); FY2024 delivered FCF of $736M and constant-currency ARR of $2.21B, with the pay-versus-performance table showing a $100 investment in PTC would have grown to $218.40 by FY2024 and reporting net income of $376.3M and FCF of $735.6M .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Microsoft | Corporate Vice President, Industry & Partner Sales, Health & Life Sciences | Aug 2023–Dec 2024 | Led HLS go-to-market and partner motions before joining PTC |
| Nuance Communications | Chief Revenue Officer | Apr 2019–Aug 2023 | Directed global revenue engine in AI-driven speech solutions |
| BenefitFocus | EVP, Global Sales | Jul 2017–Apr 2019 | Ran global sales; modernized enterprise sales coverage |
External Roles
No public company board roles or external directorships disclosed for Dahdah in the 2025 proxy .
Fixed Compensation
- Specific base salary, target bonus %, and equity grant values for Dahdah were not disclosed in the 2025 proxy (he joined in December 2024 and was not a FY2024 NEO) .
- PTC’s executive design includes competitive base salary and service-based RSUs vesting over multiple years .
Performance Compensation
PTC’s CRO compensation is aligned to company plans that use annual FCF (CIP), ARR growth (operating PSUs), and three-year rTSR (long-term PSUs). FY2024 outcomes:
| Plan / Metric | Threshold | Target | Upside | Actual | Payout / Earned |
|---|---|---|---|---|---|
| Annual Corporate Incentive Plan – Free Cash Flow ($) | $670M | $710M | $730M cap | $736M | 135% |
| Operating PSUs – ARR Growth (constant currency) | 6% | 10% | 16% | 12% | 126% |
| rTSR PSUs – 3-year relative TSR | 25th percentile | 50th percentile | 90th percentile | Not yet (FY2026 vesting) | Not earned in FY2024 |
Vesting mechanics:
- Operating PSUs: annual measurement/vesting over three years; unearned tranches forfeit .
- rTSR PSUs: single three-year performance period with a cap if stock price declines; next vest dates in FY2025/FY2026 cycles .
- Service RSUs: three equal annual installments (typical vesting dates in mid-November) .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial ownership | 0 shares as of Nov 30, 2024 (joined Dec 9, 2024) |
| % of outstanding shares | Less than 1% |
| Pledging/Hedging | Prohibited by policy; pre-clearance required for trades |
| Ownership guidelines | Executives: 3x annual salary; CEO: 6x |
| Compliance status | Company states all directors and officers meet ownership requirements |
Employment Terms
- Executive agreements require a non-compete and a general release to receive severance .
- Double-trigger change-in-control: equity accelerates only upon qualifying termination within two years post-CIC; structure intended to retain and motivate executives through potential transactions .
- Severance frameworks (illustrative for executives/NEOs): CEO includes 2x salary+bonus; other executive officers include 1x salary+bonus with 1-year benefits continuation and acceleration of equity vesting within one year for termination without cause; performance equity accelerates at target level under specified cases (individual terms vary by executive and year) .
Performance & Track Record
- Go-to-market transformation: Dahdah is leading pricing/packaging simplification (e.g., Windchill), verticalization, and sales coverage optimization, emphasizing value-led messaging and deal-cycle improvements. Management indicated mid-to-late next year timing for broader commercial lift, with early wins preventing deal losses and reorienting sellers toward direct roles where appropriate .
- Strategic alignment: Initiatives target ARR expansion, SaaS migration simplicity, and AI embedding to enhance customer adoption, directly linking to compensation metrics (ARR/FCF) and potential upside in PSUs .
Governance, Policies, and Shareholder Feedback
- Clawback: Executive Compensation Recoupment Policy compliant with SEC/Nasdaq; enables recovery of performance-based pay upon restatements or corrections .
- Ownership/Trading policies: stock ownership requirements; strict prohibitions on hedging/pledging; 10b5-1 plan governance and pre-clearance for insiders .
- Say-on-Pay: 2025 vote approved (For: 100,420,452; Against: 6,925,471; Abstain: 457,459; broker non-votes: 4,403,779), indicating high investor support for current structure . Prior proxy notes 92% support in 2024 .
- Related-party transactions: No disclosures involving Dahdah; 2024 related-party disclosure references other personnel (Heppelmann family) .
Investment Implications
- Alignment: CRO incentives leverage ARR and FCF metrics; FY2024 payout levels (135% CIP; 126% ARR PSUs) support near-term at-risk pay while embedding multi-year rTSR constraints—creating balanced risk/reward alignment .
- Execution catalysts: Packaging simplification, pricing optimization, and vertical focus under Dahdah are clear levers for ARR growth and SaaS adoption; watch mid/late-next-year windows for inflection in win rates and deal sizes per management commentary .
- Retention/overhang: Strict no-pledging and pre-clearance reduce selling pressure and misalignment risks; double-trigger CIC terms mitigate disruption risk while preserving retention through periods of strategic change .
- Monitoring points: Track ARR growth versus PSU thresholds, FCF versus CIP targets, and progress on sales coverage reallocation and AI-driven product value messaging; continued high say-on-pay support suggests investors endorse the current incentive design .