Form 4: Bentley Systems CEO Tax Withholding on Vesting Awards

Sentiment:

Insider Transaction Report 17 December 2025 4:15 PM

Bentley Systems CEO Nicholas Cumins reported a disposition of 17,162 Class B Common Stock shares to cover tax liabilities from vested awards.

Summary

Nicholas Cumins, Chief Executive Officer and Director of Bentley Systems, Inc. (BSY), reported a transaction on December 15, 2025.
The transaction involved the disposition of 17,162 shares of Class B Common Stock.
These shares were withheld by Bentley Systems to cover tax obligations incurred by Mr. Cumins upon the vesting of previously granted equity awards.
The shares were disposed of at a price of $40.25 per share.
Following this transaction, Mr. Cumins directly beneficially owns 423,112 shares of Class B Common Stock.

Sentiment

Score: 5

Explanation: The transaction is a routine administrative event (tax withholding on vested awards) and does not indicate a change in the company's fundamentals or the insider's confidence. It is neutral in sentiment.

Future Outlook

Industry Context

This is a routine insider transaction related to equity compensation and tax obligations, common across all industries for executives receiving stock awards. It does not reflect broader industry trends or competitive positioning.

Stakeholder Impact

Minimal impact on shareholders as this is a routine, non-discretionary transaction for tax purposes related to executive compensation.
No direct impact on employees, customers, suppliers, or creditors.

Key Dates

Date	Description
12/15/2025	Date of transaction for disposition of Class B Common Stock.
12/17/2025	Date of signature by Attorney-in-Fact for the reporting person.

Recommendation

hold

This Form 4 reports a routine, non-discretionary disposition of shares by the CEO to cover tax obligations upon the vesting of equity awards. Such transactions are common and do not typically signal a change in the company's operational performance or the insider's long-term view. Therefore, it provides no new information to alter an existing investment thesis, warranting a 'hold' recommendation based solely on this filing.

Keywords

Bentley Systems, BSY, Nicholas Cumins, Form 4, Insider Transaction, Stock Disposition, Tax Withholding, Equity Compensation, CEO

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