Form 4: Bentley Systems CAO Acquires Shares via Dividend Rights

Bentley Systems' Chief Accounting Officer, Thomas F. Trimback, acquired 13 shares of Class B Common Stock through dividend equivalent rights.

Summary

• Thomas F. Trimback, Chief Accounting Officer of Bentley Systems, Inc. (BSY), acquired 13 shares of Class B Common Stock.
• The transaction occurred on September 30, 2025.
• These shares were acquired at a price of $0.00, representing dividend equivalent rights (DERs).
• DERs accrued in connection with a dividend paid by Bentley Systems on awards previously granted.
• The acquired shares will vest on the same terms as the underlying awards to which they relate.
• Following this transaction, Trimback directly beneficially owns 14,440 shares of Class B Common Stock.
• The transaction was made pursuant to a Rule 10b5-1(c) plan.

Sentiment

Score: 6

Explanation: The acquisition of shares by a Chief Accounting Officer, even through dividend equivalent rights, is generally viewed as a neutral to slightly positive signal, indicating continued alignment of management interests with shareholders. It's a routine compensation event.

Positives

• Increased insider ownership, albeit a small amount, can signal confidence in the company's future.
• The acquisition through dividend equivalent rights is a standard component of executive compensation, reflecting ongoing participation in company performance.

Future Outlook

The acquired dividend equivalent rights will vest on the same terms as the underlying awards to which they relate, indicating future vesting events.

Industry Context

This filing reports a routine insider transaction related to executive compensation. Such transactions are common across publicly traded companies as part of their equity incentive programs and do not inherently reflect broader industry trends, though they are a standard part of corporate governance and transparency in the financial sector.

Corporate Governance

Related Party Transactions

• The acquisition of shares by the Chief Accounting Officer is a related party transaction, as it involves an executive of the company.

Stakeholder Impact

• Shareholders: Minor positive impact due to increased insider ownership, aligning management interests with shareholder value.

Next Steps

• The acquired dividend equivalent rights will vest according to the terms of the original awards.

Key Dates

Keywords

Bentley Systems, BSY, Form 4, Insider Transaction, Chief Accounting Officer, Thomas F. Trimback, Dividend Equivalent Rights, Equity Compensation, Rule 10b5-1