Form 4: Bentley Systems Chief Legal Officer Reports Acquisition of Class B Common Stock

David R. Shaman, Chief Legal Officer of Bentley Systems, acquired 458 shares of Class B Common Stock through dividend equivalent rights.

Summary

• David R. Shaman, the Chief Legal Officer of Bentley Systems, reported a transaction involving the company's Class B Common Stock.
• On December 12, 2024, Mr. Shaman acquired 458 shares of Class B Common Stock.
• These shares were acquired through dividend equivalent rights, which accrued from a previous dividend payment.
• The acquisition price was $0.00 per share, as these were not purchased but rather awarded.
• Following this transaction, Mr. Shaman directly owns 608,556 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: 7

Explanation: The document reflects a routine transaction related to executive compensation. It is a positive sign of alignment between management and shareholders, but not a major event.

Positives

• The acquisition of shares through dividend equivalent rights indicates a positive alignment of interests between the executive and shareholders.
• The increase in share ownership by a key executive could be seen as a sign of confidence in the company's future.

Industry Context

This is a routine filing related to executive compensation and is common for publicly traded companies. It reflects the standard practice of awarding shares or dividend equivalents to executives.

Comparison to Industry Standards

• Executive compensation packages often include stock awards and dividend equivalent rights, aligning executive interests with shareholder value.
• Many companies in the technology sector use similar methods to incentivize and retain key personnel.
• The reporting of these transactions via SEC Form 4 is a standard regulatory requirement for publicly traded companies, ensuring transparency.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns executive interests with company performance.
• The transaction has no direct impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

Bentley Systems, Class B Common Stock, David R. Shaman, Chief Legal Officer, Dividend Equivalent Rights, SEC Form 4, Beneficial Ownership, Executive Compensation