Form 4: Bentley Systems' Chief Legal Officer Reports Stock Transactions

David R. Shaman, Chief Legal Officer of Bentley Systems, reports acquisition and disposal of Class B Common Stock.

Summary

• David R. Shaman, the Chief Legal Officer of Bentley Systems, filed a Form 4 detailing changes in beneficial ownership.
• On March 13, 2025, Shaman acquired 18,148 shares of Class B Common Stock at $0.00.
• On the same day, 2,691 shares of Class B Common Stock were disposed of at $40.11 to cover taxes due upon vesting of awards.
• Following these transactions, Shaman directly owns 719,761 shares of Class B Common Stock.
• Additionally, Shaman indirectly owns 269,878 shares through Grantor Retained Annuity Trusts and 32,635 shares through a 401(k) plan.
• The acquisition of 18,148 shares represents a time-based restricted stock unit award vesting over four years.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the filing primarily reflects routine stock transactions related to executive compensation. The acquisition of shares is a slightly positive signal, offset by the disposal for tax purposes.

Positives

• The acquisition of shares through a restricted stock unit award indicates confidence in the company's future performance.

Negatives

• The disposal of shares to cover taxes, while routine, slightly reduces the officer's holdings.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.

Stakeholder Impact

• The filing provides transparency to shareholders regarding insider trading activities.

Key Dates

Keywords

Form 4, Beneficial Ownership, Bentley Systems, BSY, David R. Shaman, Chief Legal Officer, Class B Common Stock, Restricted Stock Units, Tax Withholding