Form 4: Bentley Systems Director Acquires 85 Class B Shares

Bentley Systems Director Kirk B. Griswold acquired 85 shares of Class B Common Stock through dividend equivalent rights.

Summary

• Kirk B. Griswold, a Director of Bentley Systems, Inc. (BSY), acquired 85 shares of Class B Common Stock.
• The transaction occurred on December 11, 2025, and involved no cash payment (price of $0.00 per share).
• The acquisition represents dividend equivalent rights that accrued to Mr. Griswold in connection with a dividend paid by the Issuer on previously granted awards.
• These acquired shares will vest on the same terms as the awards to which they relate.
• Following this transaction, Mr. Griswold beneficially owns 461,212 shares of Class B Common Stock directly.

Sentiment

Score: 6

Explanation: A director acquired a small number of shares through dividend equivalent rights, a routine non-cash transaction. This is mildly positive as it increases insider ownership, but it's not a significant event.

Positives

• A director's acquisition of shares, even through non-cash dividend equivalent rights, can be viewed as a minor positive signal of alignment with shareholder interests.

Future Outlook

The filing does not contain any forward-looking statements or guidance beyond the vesting terms of the acquired dividend equivalent rights.

Industry Context

This is a routine insider transaction related to director compensation and does not provide specific insights into broader industry trends or competitive positioning for Bentley Systems.

Stakeholder Impact

• Shareholders: Minimal direct impact due to the small, non-cash nature of the transaction. It slightly increases insider ownership, aligning director interests with shareholders.

Next Steps

• The acquired dividend equivalent rights will vest on the same terms as the awards to which they relate.

Key Dates

Recommendation

This Form 4 reports a routine, non-cash acquisition of a small number of shares by a director through dividend equivalent rights. It does not provide new material information to alter an investment decision, suggesting a 'hold' stance for existing investors as there's no significant catalyst for a change in valuation based on this filing.

Keywords

Bentley Systems, BSY, Form 4, Insider Transaction, Director, Stock Acquisition, Dividend Equivalent Rights, Class B Common Stock