Velarion · Company Intelligence
Compensation Brief
Fiscal year 2022 · Filings through 2026-06-03

National Instruments (NATI)

Fiscal year 2022 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$8,398,504
Eric H. Starkloff total, FY2022
28th
CEO pay percentile vs peers
133:1
CEO-to-median pay ratio
90.74%
Say-on-pay support, latest vote
Companies that benchmark against NATI
1 company names NATI as a compensation peer

Each company listed discloses NATI in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named NATI in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2022

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Eric H. Starkloff$735,000$0$7,266,432$0$385,191$0$11,881$8,398,504
President and Chief Executive Officer
Jason E. Green595,00002,114,4860001,476,8124,186,298
Former Chief Revenue Officer and Executive Vice President
Karen M. Rapp500,000100,0001,865,7590194,10007,8602,667,719
Former Executive Vice President and Chief Financial Officer
Ritu Favre450,00001,741,3540174,690013,8602,415,377
Executive Vice President & GM, Business Units
Scott A. Rust425,00001,368,2230164,985015,4231,973,631
Executive Vice President, Global Operations

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2022 totalFY2021 totalFY2020 totalΔ FY20212022
Eric H. Starkloff$8,398,504
Jason E. Green4,186,298
Karen M. Rapp2,667,719
Ritu Favre2,415,377
Scott A. Rust1,973,631

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

03

Grants of plan-based awards — fiscal year 2022

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Jason E. GreenRSU2022-01-1811,97723,95447,908$1,448,259
Eric H. StarkloffRSU2022-01-1942,26384,526169,0524,976,891
Scott A. RustRSU2022-01-187,75015,50031,000937,130
Karen M. RappRSU2022-01-1810,56821,13642,2721,277,883
Ritu FavreRSU2022-01-189,86419,72739,4541,192,694
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Jason E. Green$1,448,259$0$00.0%
Eric H. Starkloff4,976,891000.0%
Scott A. Rust937,130000.0%
Karen M. Rapp1,277,883000.0%
Ritu Favre1,192,694000.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2022

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Eric H. StarkloffRSU1,919$70,811
Eric H. StarkloffRSU1927,085
Ritu FavrePSU19,727727,926
Scott A. RustPSU8,768323,539
Scott A. RustRSU3,610133,209
Karen M. RappRSU5,219192,581
Scott A. RustRSU5,845215,681
Eric H. StarkloffPSU84,5263,119,009
Karen M. RappRSU14,091519,958
Eric H. StarkloffRSU25,000922,500
Scott A. RustRSU1164,280
Eric H. StarkloffRSU8,490313,281
Scott A. RustRSU64023,616
Ritu FavreRSU9,352345,089
Ritu FavreRSU3,000110,700
Scott A. RustPSU15,500571,950
Ritu FavreRSU13,151485,272
Eric H. StarkloffRSU7,031259,444
Karen M. RappRSU14,028517,633
Ritu FavreRSU6,398236,086
Scott A. RustRSU4,217155,607
Karen M. RappRSU13,850511,065
Scott A. RustRSU10,333381,288
Eric H. StarkloffRSU6,015221,954
Scott A. RustRSU2,982110,036
Eric H. StarkloffPSU67,4612,489,311
Karen M. RappPSU21,043776,487
Eric H. StarkloffRSU56,3512,079,352
Eric H. StarkloffRSU29,9821,106,336
Karen M. RappPSU21,136779,918
Ritu FavrePSU14,029517,670
05

Incentive-plan design — the Compensation Discussion & Analysis

Our compensation practices are designed to support the interests of our stockholders. Achieving financial goals and other operational targets that drive the profitable growth of the Company is the basis for measuring performance.

CEO STI target (% of salary)135%
CEO LTI target (% of salary)
Independent consultantCompensia
Clawback policytrue
Anti-hedging
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20222022-05-10102,424,40010,197,212261,32290.74%Passed
20212021-05-11101,291,8208,705,515275,19691.86%Passed
20202020-05-06111,720,3743,404,884296,21196.79%Passed
20192019-05-14107,916,0063,011,690243,21297.07%Passed
20182018-05-0868,850,28948,463,794396,80758.49%Passed
20172017-05-09112,332,261282,896388,61499.41%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20222022-05-1090.74%a
20212021-05-1191.86%b
20202020-05-0696.79%c

a. Approved under the standard stated in the filing — “Thus, abstentions will have the same effect as a vote against Proposals Two, Three, Four and Five.”.

b. Approved under the standard stated in the filing — “Thus, abstentions will have the same effect as a vote against Proposals Two and Three.”.

c. Approved under the standard stated in the filing — “Thus, abstentions will have the same effect as a vote against Proposals Two, Three, and Four.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)133 : 1
CEO total compensation$8,398,504
Median employee compensation
08

Director compensation — fiscal year 2022

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Michael E. McGrathIndependent · Board Chair · Audit · Nomination & Governance$195,000$199,516$0$0$0$394,516
Gayla J. DellyIndependent · Audit (Chair) · Compensation · Nomination & Governance117,500199,516000317,016
James E. Cashman, IIIIndependent · Audit · Compensation · Nomination & Governance (Chair)109,821199,516000309,337
Duy-Loan T. LeIndependent · Compensation (Chair) · Nomination & Governance95,000199,516000294,516
Gerhard P. FettweisIndependent · Audit · Compensation87,500199,516000287,016
Liam K. GriffinIndependent · Nomination & Governance77,715199,516000277,231
Alexander M. DavernIndependent · Transaction Evaluation70,000199,516000269,516
Eric H. StarkloffEmployee director00000
09

Board fee structure and ownership guideline

Annual cash retainer$70,000
Annual equity retainer$199,516
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)100,000 / 100,000
Stock ownership guideline6x annual retainer
09b

Total cost of the board

ComponentFY2022
Cash retainers and fees$752,536
Equity awards (grant-date value)$1,396,612
All other compensation$0
Total cost of the board$2,149,148

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2022

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies National Instruments names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including National Instruments.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Alteryx2022Mark Anderson$650,000$55,823,051$0$650,000$57,191,521
2Cadence Design Systems2025Anirudh Devgan800,00054,412,53201,456,27156,683,576
3ANSYS2024Ajei Gopal850,00029,379,50702,550,00032,810,655
4PTC2025Neil Barua800,00021,720,45601,620,00024,315,129
5Trimble2025Robert Painter950,00013,311,8642,230,6372,633,44319,129,944
6Keysight Technologies2025Satish Dhanasekaran933,00015,345,17601,575,47318,020,109
7Teradyne2025Gregory Smith959,45710,186,5131,033,3351,914,28314,107,588
8MKS Instruments2025John Lee1,037,94510,133,32701,751,53312,961,940
9Silicon Laboratories2025R. Matthew Johnson715,8629,609,2670958,88911,296,077
10Advanced Energy Industries2025Stephen Kelley977,7928,426,22101,767,09511,187,208
11Cirrus Logic2026John Forsyth715,8509,000,18401,040,21010,769,395
12Viavi Solutions2025Oleg Khaykin900,0009,114,2770576,56210,595,839
13Novanta2025Matthijs Glastra863,0398,275,5350854,47910,042,292
14National Instruments2022Eric H. Starkloff735,0007,266,4320385,1918,398,504
15Cognex2025Matthew Moschner528,8461,670,0404,829,9111,059,4368,099,369
16OSI Systems2025Ajay Mehra621,4485,269,72001,500,0007,512,141
17Altair Engineering2023James Scapa860,0002,477,2203,185,160610,0007,318,992
18FormFactor2025Michael Slessor664,6154,398,7700406,0355,481,644
19Teledyne Technologies2025George C. Bobb III816,827601,5461,730,5221,080,9084,255,049
Citrix Systemsnot in coverage universe

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
National Instruments38.8%PSU 60 · RSU 40NoCompensia
Advanced Energy Industries144.4%PSU 60 · RSU 40NoCompensia, Inc.
Altair Engineering100%Options 56 · RSU 44not disclosedCompensia
Alteryx100%RSU 75 · PSU 25NoAlpine Rewards
ANSYS200.0%RSU 100not disclosedCompensia
Cadence Design Systems121.4%RSU 50 · PSU 50Yes — Relative TSR vs. IT companies in S&P 500 and S&P 400Semler Brossy
Cirrus Logic117.5%MSU 60 · RSU 40NoCompensia, Inc.
Citrix Systemsnot disclosednot disclosednot disclosednot disclosed
Cognex193%Options 33 · RSU 33 · PSU 33NoPay Governance, LLC
FormFactor61.8%PSU 50 · RSU 50Yes — Total Shareholder Return (TSR)Aon's Human Capital Solutions practice
Keysight Technologies114.09%PSU 60 · RSU 40Yes — 3-Year Relative TSRMeridian Compensation Partners LLC
MKS Instruments135%PSU 60 · RSU 40Yes — Relative Total Shareholder Return (rTSR)Pearl Meyer
Novanta65.3%PSU 70 · RSU 30NoAon
OSI Systemsnot disclosedPSU 100NoPearl Meyer
PTC135%PSU 60 · RSU 40Yes — Three Year Relative TSRPearl Meyer & Partners, LLC
Silicon Laboratories103%RSU 54 · PSU 46NoMercer (US) LLC
Teledyne Technologies97.6%Options 33 · Cash LTI 33 · PSU 33NoExequity LLP
Teradyne136.0%not disclosedYes — TSR vs NYSE Composite IndexCompensia
Trimble138.6%PSU 60 · RSU 25 · Options 15Yes — Total Shareholder Return (TSR) relative to S&P 500Mercer (US) LLC
Viavi Solutions51.2%RSU 40Yes — Total Shareholder Return (TSR) relative to Nasdaq Telecommunications IndexCompensia, Inc.

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Eric H. StarkloffDEF 14A2023-03-270001140361-23-013880Section “2022 SUMMARY COMPENSATION TABLE”. As printed: 8,398,504. Filing ↗machine: r1 · c22 · span 864993–865002
2Section 01, Jason E. GreenDEF 14A2023-03-270001140361-23-013880Section “2022 SUMMARY COMPENSATION TABLE”. As printed: 4,186,298. Filing ↗machine: r7 · c22 · span 897869–897878
3Section 01, Karen M. RappDEF 14A2023-03-270001140361-23-013880Section “2022 SUMMARY COMPENSATION TABLE”. As printed: 2,667,719. Filing ↗machine: r4 · c22 · span 881368–881377
4Section 01, Ritu FavreDEF 14A2023-03-270001140361-23-013880Section “2022 SUMMARY COMPENSATION TABLE”. As printed: 2,415,377. Filing ↗machine: t171 · r13 · c22 · span 930709–930718
5Section 01, Scott A. RustDEF 14A2023-03-270001140361-23-013880Section “2022 SUMMARY COMPENSATION TABLE”. As printed: 1,973,631. Filing ↗machine: r10 · c22 · span 914225–914234
6Section 03, Jason E. Green RSUDEF 14A2023-03-270001140361-23-013880Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t151 · r3 · c7 · span 749973–749982
7Section 03, Eric H. Starkloff RSUDEF 14A2023-03-270001140361-23-013880Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t151 · r1 · c7 · span 745618–745627
8Section 03, Scott A. Rust RSUDEF 14A2023-03-270001140361-23-013880Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t151 · r4 · c7 · span 752152–752159
9Section 03, Karen M. Rapp RSUDEF 14A2023-03-270001140361-23-013880Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t151 · r2 · c7 · span 747790–747799
10Section 03, Ritu Favre RSUDEF 14A2023-03-270001140361-23-013880Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t151 · r5 · c7 · span 754325–754334
11Section 07, pay ratioDEF 14A0001140361-23-013880Section “CEO Pay Ratio”. As printed: 133 : 1.machine: span 1630413–1630421
12Section 08, Michael E. McGrathDEF 14A2023-03-270001140361-23-013880Section “Director Compensation”. As printed: 394,516. Filing ↗machine: t71 · r7 · c10 · span 466688–466695
13Section 08, Gayla J. DellyDEF 14A2023-03-270001140361-23-013880Section “Director Compensation”. As printed: 317,016. Filing ↗machine: t71 · r3 · c10 · span 454838–454845
14Section 08, James E. Cashman, IIIDEF 14A2023-03-270001140361-23-013880Section “Director Compensation”. As printed: 309,337. Filing ↗machine: t71 · r1 · c10 · span 448920–448927
15Section 08, Duy-Loan T. LeDEF 14A2023-03-270001140361-23-013880Section “Director Compensation”. As printed: 294,516. Filing ↗machine: t71 · r6 · c10 · span 463724–463731
16Section 08, Gerhard P. FettweisDEF 14A2023-03-270001140361-23-013880Section “Director Compensation”. As printed: 287,016. Filing ↗machine: t71 · r4 · c10 · span 457803–457810
17Section 08, Liam K. GriffinDEF 14A2023-03-270001140361-23-013880Section “Director Compensation”. As printed: 277,231. Filing ↗machine: t71 · r5 · c10 · span 460764–460771
18Section 08, Alexander M. DavernDEF 14A2023-03-270001140361-23-013880Section “Director Compensation”. As printed: 269,516. Filing ↗machine: t71 · r2 · c10 · span 451879–451886
19Section 08, Eric H. StarkloffDEF 14A2023-03-270001140361-23-013880Section “Director Compensation”. As printed: 0. Filing ↗
20Section 06, 2022 voteForm 8-K2022-05-120000935494-22-000015Item 5.07 · say-on-pay result. As reported: 90.74%. Filing ↗
21Section 06, 2021 voteForm 8-K2021-05-140000935494-21-000027Item 5.07 · say-on-pay result. As reported: 91.86%. Filing ↗
22Section 06, 2020 voteForm 8-K2020-05-070000935494-20-000020Item 5.07 · say-on-pay result. As reported: 96.79%. Filing ↗
23Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
24Section 09b board cost (computed)ComputedcomputedCash 752,536 + equity 1,396,612 + all other 0 = 2,149,148, summed across the director compensation table rows.machine: formula: Σ = 2,149,148
25Alteryx, Section 10b CEO totalDEF 14A2023-04-040001140361-23-016229CEO total compensation as printed in Alteryx's own proxy. As printed: 57,191,521. Filing ↗machine: r1 · c24 · span 1147355–1147365
26Cadence Design Systems, Section 10b CEO totalDEF 14A2026-03-250001193125-26-124264CEO total compensation as printed in Cadence Design Systems's own proxy. As printed: 56,683,576. Filing ↗machine: t294 · r4 · c34 · span 1043936–1043946
27ANSYS, Section 10b CEO totalDEF 14A2025-04-290001104659-25-041176CEO total compensation as printed in ANSYS's own proxy. As printed: 32,810,655. Filing ↗machine: span 1192289–1192299
28PTC, Section 10b CEO totalDEF 14A2025-12-230001104659-25-124170CEO total compensation as printed in PTC's own proxy. As printed: 24,315,129. Filing ↗machine: span 1634675–1634685
29Trimble, Section 10b CEO totalDEF 14A2026-04-090000864749-26-000042CEO total compensation as printed in Trimble's own proxy. As printed: 19,129,944. Filing ↗machine: r3 · c30 · span 695230–695240
30Keysight Technologies, Section 10b CEO totalDEF 14A2026-01-260001140361-26-002381CEO total compensation as printed in Keysight Technologies's own proxy. As printed: 18,020,109. Filing ↗machine: r2 · c28 · span 1994587–1994597
31Teradyne, Section 10b CEO totalDEF 14A2026-03-270001193125-26-127504CEO total compensation as printed in Teradyne's own proxy. As printed: 14,107,588. Filing ↗machine: t91 · r2 · c32 · span 2057888–2057898
32MKS Instruments, Section 10b CEO totalDEF 14A2026-03-310001193125-26-133378CEO total compensation as printed in MKS Instruments's own proxy. As printed: 12,961,940. Filing ↗machine: t120 · r3 · c26 · span 1981823–1981833
33Silicon Laboratories, Section 10b CEO totalDEF 14A2026-03-110001193125-26-102113CEO total compensation as printed in Silicon Laboratories's own proxy. As printed: 11,296,077. Filing ↗machine: r3 · c27 · span 631624–631634
34Advanced Energy Industries, Section 10b CEO totalDEF 14A2026-03-260001104659-26-035159CEO total compensation as printed in Advanced Energy Industries's own proxy. As printed: 11,187,208. Filing ↗machine: t198 · r9 · c18 · span 1327835–1327845
35Cirrus Logic, Section 10b CEO totalDEF 14A2026-06-030000772406-26-000024CEO total compensation as printed in Cirrus Logic's own proxy. As printed: 10,769,395. Filing ↗machine: span 798834–798844
36Viavi Solutions, Section 10b CEO totalDEF 14A2025-10-030001628280-25-043990CEO total compensation as printed in Viavi Solutions's own proxy. As printed: 10,595,839. Filing ↗machine: r2 · c21 · span 1093592–1093602
37Novanta, Section 10b CEO totalDEF 14A2026-04-240001193125-26-175367CEO total compensation as printed in Novanta's own proxy. As printed: 10,042,292. Filing ↗machine: r2 · c8 · span 950118–950128
38National Instruments (subject), Section 10b CEO totalDEF 14A2023-03-270001140361-23-013880CEO total compensation as printed in National Instruments's own proxy. As printed: 8,398,504. Filing ↗machine: r1 · c22 · span 864993–865002
39Cognex, Section 10b CEO totalDEF 14A2026-03-130001193125-26-105065CEO total compensation as printed in Cognex's own proxy. As printed: 8,099,369. Filing ↗machine: r2 · c24 · span 574315–574324
40OSI Systems, Section 10b CEO totalDEF 14A2025-10-220001104659-25-101517CEO total compensation as printed in OSI Systems's own proxy. As printed: 7,512,141. Filing ↗machine: r1 · c54 · span 1051906–1051915
41Altair Engineering, Section 10b CEO totalDEF 14A2024-04-050001193125-24-087903CEO total compensation as printed in Altair Engineering's own proxy. As printed: 7,318,992. Filing ↗machine: t99 · r3 · c27 · span 360042–360051
42FormFactor, Section 10b CEO totalDEF 14A2026-04-020001039399-26-000016CEO total compensation as printed in FormFactor's own proxy. As printed: 5,481,644. Filing ↗machine: r2 · c21 · span 765051–765060
43Teledyne Technologies, Section 10b CEO totalDEF 14A2026-03-120001193125-26-104187CEO total compensation as printed in Teledyne Technologies's own proxy. As printed: 4,255,049. Filing ↗machine: t364 · r3 · c31 · span 1147322–1147331
44Section 10a, Cadence Design Systems reciprocityDEF 14A0001193125-26-124264Cadence Design Systems's most recent proxy was read; its disclosed peer group does not include National Instruments. Filing ↗
45Section 10a, Cognex reciprocityDEF 14A0001193125-26-105065Cognex's most recent proxy was read; its disclosed peer group does not include National Instruments. Filing ↗
46Section 10a, Cirrus Logic reciprocityDEF 14A0000772406-26-000024Cirrus Logic's most recent proxy was read; its disclosed peer group does not include National Instruments. Filing ↗
47Section 10a, OSI Systems reciprocityDEF 14A0001104659-25-101517OSI Systems's most recent proxy was read; its disclosed peer group does not include National Instruments. Filing ↗
48Section 10a, MKS Instruments reciprocityDEF 14A0001193125-26-133378MKS Instruments's most recent proxy was read; its disclosed peer group does not include National Instruments. Filing ↗
49Section 10a, Alteryx reciprocityDEF 14A0001140361-23-016229Alteryx's most recent proxy was read; its disclosed peer group does not include National Instruments. Filing ↗
50Section 10a, Novanta reciprocityDEF 14A0001193125-26-175367Novanta's most recent proxy was read; its disclosed peer group does not include National Instruments. Filing ↗
51Section 10a, Teledyne Technologies reciprocityDEF 14A0001193125-26-104187Teledyne Technologies's most recent proxy was read; its disclosed peer group does not include National Instruments. Filing ↗
52Section 10a, FormFactor reciprocityDEF 14A0001039399-26-000016FormFactor's most recent proxy was read; its disclosed peer group does not include National Instruments. Filing ↗
53Section 10a, Advanced Energy Industries reciprocityDEF 14A0001104659-26-035159Advanced Energy Industries's most recent proxy was read; its disclosed peer group does not include National Instruments. Filing ↗
54Section 10a, Silicon Laboratories reciprocityDEF 14A0001193125-26-102113Silicon Laboratories's most recent proxy was read; its disclosed peer group does not include National Instruments. Filing ↗
55Section 10a, Teradyne reciprocityDEF 14A0001193125-26-127504Teradyne's most recent proxy was read; its disclosed peer group does not include National Instruments. Filing ↗
56Section 10a, ANSYS reciprocityDEF 14A0001104659-25-041176ANSYS's most recent proxy was read; its disclosed peer group does not include National Instruments. Filing ↗
57Section 10a, PTC reciprocityDEF 14A0001104659-25-124170PTC's most recent proxy was read; its disclosed peer group does not include National Instruments. Filing ↗
58Section 10a, Altair Engineering reciprocityDEF 14A0001193125-24-087903Altair Engineering's most recent proxy was read; its disclosed peer group does not include National Instruments. Filing ↗
59Section 10a, Trimble reciprocityDEF 14A0000864749-26-000042Trimble's most recent proxy was read; its disclosed peer group does not include National Instruments. Filing ↗