Form 4: Bentley Systems COO Boosts Stake via Dividend Rights

Bentley Systems' Chief Operating Officer, James K. Lee, increased his beneficial ownership by 211 shares of Class B Common Stock through dividend equivalent rights.

Summary

• James K. Lee, Chief Operating Officer of Bentley Systems, Inc. (BSY), acquired 211 shares of Class B Common Stock.
• The transaction occurred on September 30, 2025.
• These shares represent dividend equivalent rights (DERs) that accrued on previously granted awards.
• The DERs vest on the same terms as the underlying awards to which they relate.
• Following this transaction, Mr. Lee beneficially owns 172,192 shares of Class B Common Stock.
• The acquisition price for these shares was $0.00, indicating they were granted as part of compensation/dividends, not purchased.

Sentiment

Score: 6

Explanation: The acquisition of shares through dividend equivalent rights increases the Chief Operating Officer's beneficial ownership, which generally aligns management's interests with shareholders. However, it is a non-cash transaction, which typically has less market impact than an open-market purchase.

Positives

• Increased insider ownership, which generally aligns management interests with shareholders.
• The acquisition of shares through dividend equivalent rights demonstrates the ongoing value accrual from previously granted equity awards.

Negatives

• The shares were acquired at a $0.00 price, indicating they were not a direct cash purchase by the insider, which typically has less market impact than an open market buy.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders may view the increased insider ownership as a positive sign of management's continued alignment with the company's long-term performance.

Key Dates

Recommendation

This Form 4 filing details a routine insider transaction involving the acquisition of shares through dividend equivalent rights, not an open-market purchase. While it slightly increases insider ownership and aligns management interests, it does not provide new material information about the company's operational performance, financial health, or strategic direction that would warrant a change in investment recommendation based solely on this filing. Investors should consider broader company fundamentals and market conditions.

Keywords

Bentley Systems, BSY, James K. Lee, Chief Operating Officer, insider transaction, Form 4, Class B Common Stock, dividend equivalent rights, beneficial ownership