Form 4: Bentley Systems Director Acquires Shares

Keith A. Bentley, a Director and 10% owner of Bentley Systems, acquired 1,024 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 1,024 shares of Class B Common Stock.
• The acquisition occurred on September 30, 2025, and was related to dividend equivalent rights.
• These rights accrued from a dividend paid by Bentley Systems on previously granted awards and vest under the same terms as the original awards.
• The transaction was made pursuant to a Rule 10b5-1(c) plan, indicating a pre-arranged trading plan.
• Following this transaction, Mr. Bentley directly owns 3,960,351 shares of Class B Common Stock.
• Mr. Bentley also indirectly owns 12,696,921 shares via a Grantor Retained Annuity Trust and 92,654 shares via a 401(K) Plan.

Sentiment

Score: 7

Explanation: The acquisition of additional shares by a director and significant owner, even through dividend equivalent rights, generally signals continued alignment of interests with shareholders and confidence in the company's performance. The transaction being under a 10b5-1 plan indicates a pre-planned, routine event, which is neutral to slightly positive.

Positives

• A Director and significant owner, Keith A. Bentley, increased his beneficial ownership in Bentley Systems, Inc., signaling continued alignment with shareholder interests.
• The acquisition of shares through dividend equivalent rights indicates ongoing participation in the company's equity programs and long-term commitment.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• Acquisition of 1,024 shares of Class B Common Stock by Director and 10% owner Keith A. Bentley through dividend equivalent rights.

Stakeholder Impact

• Shareholders: The transaction indicates continued alignment of a significant insider's interests with those of other shareholders, potentially reinforcing confidence in the company's long-term prospects.

Key Dates

Recommendation

This Form 4 reports a routine acquisition of shares by a director through dividend equivalent rights under a pre-arranged 10b5-1 plan. While it indicates continued insider ownership and alignment, it does not represent a significant new investment decision or provide new fundamental information to warrant a change in investment recommendation.

Keywords

BENTLEY SYSTEMS, BSY, Insider Transaction, Form 4, Keith A. Bentley, Director, 10% Owner, Stock Acquisition, Dividend Equivalent Rights, Rule 10b5-1