Form 4: Bentley Systems Director Acquires 1,284 Class B Shares

Keith A. Bentley, a Director and 10% owner of Bentley Systems Inc., acquired 1,284 shares of Class B Common Stock through dividend equivalent rights.

Summary

• Keith A. Bentley, a Director and 10% owner of Bentley Systems Inc. (BSY), acquired 1,284 shares of Class B Common Stock.
• The transaction occurred on December 11, 2025, with a price of $0.00 per share.
• These shares represent dividend equivalent rights that accrued in connection with a dividend paid by the Issuer on previously granted awards.
• The acquired shares vest on the same terms as the awards to which they relate.
• Following this transaction, Mr. Bentley directly owns 3,961,635 shares of Class B Common Stock.
• Indirect ownership includes 12,696,921 shares held by a Grantor Retained Annuity Trust and 92,654 shares held by a 401(K) Plan.

Sentiment

Score: 6

Explanation: Slightly positive as an insider is increasing their stake, albeit through dividend equivalents, indicating continued alignment with shareholder interests. It's a routine transaction, so not highly impactful.

Positives

• The acquisition of shares, even through dividend equivalents, indicates continued alignment of a key insider's interests with shareholders.
• The shares were acquired at $0.00, suggesting they are part of a compensation or dividend plan, not an open market purchase.

Stakeholder Impact

• Shareholders: Slight positive impact due to increased insider ownership, aligning interests.
• Employees, Customers, Suppliers, Creditors: No direct impact from this specific filing.

Key Dates

Recommendation

This Form 4 reports a routine acquisition of shares by a director through dividend equivalent rights, not an open market purchase. While it slightly increases insider ownership, it does not provide new fundamental information to warrant a change in investment recommendation. The transaction is expected and does not signal a significant shift in company prospects or valuation.

Keywords

Bentley Systems, BSY, Form 4, Insider Transaction, Stock Acquisition, Dividend Equivalent Rights, Keith A. Bentley, Director, 10% Owner