Form 4: Bentley Systems CFO Andre Werner Reports Tax-Related Stock Disposal
SEC Form 4 Filing
Chief Financial Officer of Bentley Systems, Andre Werner, reports the disposal of 419 Class B Common Stock shares to cover taxes upon vesting of previously granted awards.
Summary
- On April 19, 2024, Andre Werner, the Chief Financial Officer of Bentley Systems, Inc., reported a transaction involving Class B Common Stock.
- The transaction involved the disposal of 419 shares at a price of $52.46 per share.
- This disposal was to cover taxes due upon the vesting of awards previously granted to Werner.
- Following the transaction, Werner beneficially owns 271,263 shares of Class B Common Stock directly.
Sentiment
Score: 7
Explanation: The document is a standard regulatory filing related to insider transactions. It doesn't inherently convey positive or negative sentiment, but the fact that the CFO is maintaining a significant stake in the company is generally viewed neutrally to slightly positively.
Industry Context
Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives. This transaction is related to tax obligations arising from stock-based compensation, a common practice in publicly traded companies.
Comparison to Industry Standards
- Similar transactions are common among executives at publicly traded companies like Autodesk (ADSK) and Trimble (TRMB), where stock-based compensation is a significant part of executive pay.
- These companies also regularly report Form 4 filings related to stock options, restricted stock units (RSUs), and other equity-based awards.
- The scale of Werner's holdings and the tax-related disposal are within the typical range for CFOs at companies of Bentley Systems' size and market capitalization.
Stakeholder Impact
- The transaction has minimal direct impact on stakeholders, as it is a routine tax-related disposal of shares by an executive.
- It provides transparency to shareholders regarding insider transactions, which is a standard aspect of corporate governance.
Key Dates
| Date | Description |
|---|---|
| 04/19/2024 | Date of transaction: disposal of shares to cover taxes. |
| 04/23/2024 | Date of signature by Attorney-in-Fact. |
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