Form 4: Bentley Systems CFO Boosts Stake with Dividend Rights

Bentley Systems, Inc. Chief Financial Officer Andre Werner reported the acquisition of 125 shares of Class B Common Stock through dividend equivalent rights.

Summary

• Andre Werner, Chief Financial Officer of Bentley Systems, Inc. (BSY), acquired 125 shares of Class B Common Stock.
• The transaction date for these shares was September 30, 2025.
• These 125 shares represent dividend equivalent rights that accrued on previously granted awards and will vest on the same terms as the underlying awards.
• Following this transaction, Andre Werner's total beneficial ownership of Class B Common Stock is 351,206 shares.
• The total beneficial ownership includes shares acquired through the Bentley Systems, Incorporated Global Employee Stock Purchase Plan for an offering period that ended on June 30, 2025, with enrollment and contribution elections made in December 2024.

Sentiment

Score: 6

Explanation: The acquisition of shares by a CFO, even through non-market mechanisms like dividend equivalent rights, is generally a positive signal as it increases management's alignment with shareholder interests. However, the small number of shares (125) and the $0.00 price limit the immediate significance of this specific transaction as a strong market indicator.

Positives

• Chief Financial Officer Andre Werner increased his beneficial ownership in Bentley Systems, Inc. by 125 shares, aligning his interests further with shareholders.
• The acquisition, even through dividend equivalent rights, demonstrates continued participation in the company's equity programs.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

This filing is a routine insider transaction report and does not provide information to analyze broader industry trends or the competitive landscape for Bentley Systems, Inc.

Comparison to Industry Standards

• This filing is a standard regulatory disclosure for insider transactions (Form 4) as mandated by the SEC. It does not contain information suitable for direct comparison to global benchmarks or specific comparable companies/projects regarding operational or financial performance.

Related Party Transactions

• The acquisition of 125 shares of Class B Common Stock by Andre Werner, the Chief Financial Officer, through dividend equivalent rights, constitutes a related party transaction as it involves an executive and the company's equity.

Stakeholder Impact

• Shareholders may view the increased insider ownership as a minor positive signal, indicating management's continued vested interest in the company's performance.
• Employees may note the mention of the Global Employee Stock Purchase Plan, highlighting an existing benefit program.

Key Dates

Recommendation

This Form 4 reports a routine insider acquisition of a very small number of shares (125) through dividend equivalent rights, not a direct market purchase. While increased insider ownership is generally positive, this specific transaction is too minor and non-market-based to significantly alter an investment thesis or warrant a strong buy/sell recommendation. It primarily serves as a disclosure of a compensation-related event and does not provide new material information to change a 'hold' stance.

Keywords

Bentley Systems, BSY, Andre Werner, CFO, Insider Transaction, Form 4, Class B Common Stock, Dividend Equivalent Rights, Employee Stock Purchase Plan