Form 4: Bentley Systems CTO Sells Shares for Tax Obligations

Bentley Systems' Chief Technology Officer, Julien Moutte, disposed of 4,978 Class B Common Stock shares to cover tax obligations from vested awards.

Summary

• Julien Moutte, Chief Technology Officer of Bentley Systems, Inc. (BSY), reported a transaction involving Class B Common Stock.
• The transaction occurred on March 13, 2026, and involved the disposition of 4,978 shares.
• The shares were disposed of at a price of $38.19 per share.
• The disposition was coded as 'F', indicating shares withheld by the Issuer to cover taxes due by the Reporting Person upon the vesting of previously granted awards.
• Following this transaction, Julien Moutte beneficially owns 93,431 shares of Class B Common Stock directly.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event. The transaction is a routine 'sell to cover' for tax purposes upon the vesting of awards, which is a common practice for executives and does not typically signal a change in company fundamentals or management's outlook.

Industry Context

StockSavvy.ai notes that 'sell to cover' transactions, where an executive sells a portion of vested equity awards to cover tax liabilities, are a common and routine occurrence in the technology and software industry. This type of transaction is generally not indicative of a change in management's confidence in the company's future prospects, unlike open market sales.

Stakeholder Impact

• Shareholders: Minimal direct impact as this is a routine tax-related disposition and not an open market sale driven by a change in sentiment.
• Employees: The vesting of awards, which led to this tax obligation, is generally a positive for employee retention and motivation.

Key Dates

Keywords

Bentley Systems, BSY, Julien Moutte, CTO, Insider Trading, Form 4, Stock Sale, Tax Withholding, Equity Vesting