Form 4: Bentley Systems Chief Legal Officer Reports Tax-Related Stock Disposition

Bentley Systems' Chief Legal Officer, David R. Shaman, reported the disposition of 2,636 shares of Class B Common Stock to cover tax liabilities related to a compensation plan distribution.

Summary

• David R. Shaman, Chief Legal Officer of Bentley Systems, Inc. (BSY), reported a transaction on July 8, 2025.
• The transaction involved the disposition of 2,636 shares of Class B Common Stock.
• These shares were withheld by Bentley Systems to cover taxes due by Mr. Shaman upon a scheduled distribution from the company's Non-Qualified Deferred Compensation Plan.
• The shares were disposed of at a price of $55.9 per share.
• Following this transaction, Mr. Shaman directly beneficially owns 667,922 shares of Class B Common Stock.
• Additionally, Mr. Shaman indirectly beneficially owns 279,308 shares through Grantor Retained Annuity Trusts and 32,635 shares through a 401(K) Plan.

Sentiment

Score: 5

Explanation: The transaction is a routine tax-related disposition of shares from a compensation plan, which is a neutral event and does not indicate positive or negative sentiment regarding the company's performance or outlook.

Future Outlook

The document does not contain any forward-looking statements or guidance.

Industry Context

This Form 4 filing details a routine insider transaction related to executive compensation and tax obligations, which is common across all industries for publicly traded companies. It does not provide broader insights into industry trends or competitive landscape.

Stakeholder Impact

• Shareholders: The transaction represents a minor reduction in the direct beneficial ownership of a key executive, which is a routine event and not indicative of a change in confidence or strategy.

Key Dates

Keywords

Bentley Systems, BSY, SEC Form 4, Insider Transaction, Stock Disposition, Tax Withholding, Executive Compensation, Chief Legal Officer, David R. Shaman