Form 4: Bentley Systems CFO Andre Werner Reports Acquisition of Restricted Stock Units
SEC Form 4 Filing
Chief Financial Officer of Bentley Systems, Andre Werner, reports the acquisition of 50,161 Class B Common Stock units through a restricted stock unit award.
Summary
- On June 26, 2024, Andre Werner, the Chief Financial Officer of Bentley Systems, Incorporated, acquired 50,161 shares of Class B Common Stock.
- These shares were obtained through a time-based restricted stock unit award granted under the company's 2020 Omnibus Incentive Plan.
- The award vests over five years, with 20% vesting annually on December 15, starting in 2025 and continuing through 2029.
- Following this transaction, Werner directly owns 321,490 shares of Bentley Systems Class B Common Stock.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive. It reflects a standard executive compensation practice that aligns management interests with shareholder value. There are no indications of negative news or concerns.
Positives
- The grant of restricted stock units aligns the CFO's interests with the long-term performance of the company.
- The vesting schedule encourages continued service and commitment from the CFO over the next five years.
Future Outlook
The restricted stock units will vest over a five-year period, incentivizing the CFO to remain with the company and contribute to its long-term success.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It reflects part of the company's compensation strategy to align executive interests with shareholder value.
Comparison to Industry Standards
- Granting restricted stock units is a common practice among publicly traded companies to incentivize executives.
- Vesting schedules typically range from three to five years, aligning with industry norms.
- Companies like Autodesk and Trimble, which are competitors of Bentley Systems, also utilize similar equity-based compensation plans for their executives.
Stakeholder Impact
- Shareholders may view this as a positive sign, as it aligns the CFO's interests with the long-term performance of the company.
- Employees may see this as a standard part of executive compensation.
Key Dates
| Date | Description |
|---|---|
| 06/26/2024 | Date of transaction: Andre Werner acquired restricted stock units. |
| 06/28/2024 | Date of report: Form 4 filing date. |
| 12/15/2025 | First vesting date: 20% of the restricted stock units vest. |
| 12/15/2026 | Second vesting date: 20% of the restricted stock units vest. |
| 12/15/2027 | Third vesting date: 20% of the restricted stock units vest. |
| 12/15/2028 | Fourth vesting date: 20% of the restricted stock units vest. |
| 12/15/2029 | Final vesting date: Remaining 20% of the restricted stock units vest. |
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