Form 4: Bentley Systems COO Nicholas Cumins Reports Stock Transactions

Nicholas Cumins, Chief Operating Officer of Bentley Systems, reports the acquisition and disposal of Class B Common Stock on March 13, 2024.

Summary

• On March 13, 2024, Nicholas Cumins, the Chief Operating Officer of Bentley Systems, engaged in transactions involving Class B Common Stock.
• Cumins disposed of 2,234 shares to cover taxes at a price of $48.68 per share.
• He also acquired 15,949 shares through a time-based restricted stock unit award granted under the company's 2020 Omnibus Incentive Plan.
• These restricted stock units vest over four years, with one-quarter vesting annually on the grant date anniversary.
• Following these transactions, Cumins beneficially owns 181,478 shares of Class B Common Stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the filing primarily reports routine stock transactions related to compensation and tax obligations. There is no indication of significant positive or negative developments.

Positives

• The granting of restricted stock units to the COO aligns his interests with the long-term performance of the company.
• The vesting schedule of the restricted stock units encourages continued service and contribution to Bentley Systems over the next four years.

Future Outlook

The restricted stock units will continue to vest over the next four years, incentivizing the COO's continued contributions to the company.

Industry Context

Stock transactions by company executives are routinely monitored as they can provide insights into management's confidence in the company's prospects. This filing is a standard disclosure required by the SEC.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders as they are related to executive compensation and tax obligations.

Key Dates