Form 4: Bentley Systems' Chief Legal Officer Receives Dividend Equivalent Rights

David R. Shaman, Chief Legal Officer of Bentley Systems, reports the acquisition of dividend equivalent rights related to previously granted awards.

Summary

• David R. Shaman, the Chief Legal Officer of Bentley Systems, Incorporated, filed a Form 4 on September 30, 2024, reporting changes in beneficial ownership.
• The report indicates that Mr. Shaman acquired 436 shares of Class B Common Stock on September 26, 2024, at a price of $0.00.
• These shares represent dividend equivalent rights that accrued to Mr. Shaman in connection with a dividend paid by Bentley Systems on previously granted awards.
• Following the reported transaction, Mr. Shaman directly owns 608,098 shares of Class B Common Stock.
• He also indirectly owns 397,716 shares through Grantor Retained Annuity Trusts and 32,635 shares through a 401(K) Plan.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the filing is a routine disclosure of dividend equivalent rights acquisition. It doesn't indicate any significant positive or negative implications for the company.

Positives

• The acquisition of dividend equivalent rights suggests that Mr. Shaman is aligned with the company's dividend policy and long-term performance.

Industry Context

Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives and directors.

Stakeholder Impact

• The acquisition of dividend equivalent rights by the Chief Legal Officer aligns his interests with those of shareholders, potentially fostering better corporate governance.

Key Dates