Form 4: Bentley Systems Chief Legal Officer Increases Equity Stake Through Dividend Equivalent Rights

Bentley Systems, Inc.'s Chief Legal Officer, David R. Shaman, has increased his beneficial ownership of Class B Common Stock by 420 shares through dividend equivalent rights.

Summary

• David R. Shaman, Chief Legal Officer of Bentley Systems, Inc. (BSY), reported an acquisition of 420 shares of Class B Common Stock.
• The acquisition occurred on June 12, 2025, and was reported on June 16, 2025.
• These shares represent dividend equivalent rights that accrued in connection with a dividend paid by the Issuer on previously granted awards, vesting on the same terms as the underlying awards.
• The transaction price for these shares was $0.00, indicating they were not purchased but accrued.
• Following this transaction, Mr. Shaman directly beneficially owns 689,290 shares of Class B Common Stock.
• Additionally, he indirectly beneficially owns 279,308 shares through Grantor Retained Annuity Trusts and 32,635 shares through a 401(K) Plan, totaling 1,001,233 shares.

Sentiment

Score: 7

Explanation: The sentiment is positive as an insider is increasing their equity stake, even through routine dividend equivalent rights, which generally signals confidence in the company's performance and future.

Positives

• The Chief Legal Officer's beneficial ownership of company stock has increased, which can signal continued alignment with shareholder interests.
• The acquisition of shares through dividend equivalent rights indicates the company's ongoing dividend payments and the accrual mechanism for equity awards.

Future Outlook

The transaction date of June 12, 2025, indicates a future accrual of shares, suggesting a forward-looking aspect to the reporting of these dividend equivalent rights.

Industry Context

This Form 4 filing details an insider transaction specific to Bentley Systems, Inc., and does not provide information on broader industry trends or competitive landscape.

Related Party Transactions

• The acquisition of shares through dividend equivalent rights is a transaction between the company and an executive related to previously granted equity awards.

Stakeholder Impact

• Shareholders may view the increase in insider ownership as a positive sign of management's alignment with shareholder interests.
• Employees holding similar equity awards may see this as confirmation of the company's compensation structure and dividend policy.

Key Dates

Keywords

SEC Form 4, Bentley Systems, BSY, Insider Trading, Beneficial Ownership, Equity, Dividend Equivalent Rights, Chief Legal Officer