Form 4: Bentley Systems Director Boosts Stake

Raymond B. Bentley, a Director and 10% Owner of Bentley Systems, Inc., increased his beneficial ownership of Class B Common Stock by 1,380 shares through dividend equivalent rights.

Summary

• Raymond B. Bentley, a Director and 10% Owner of Bentley Systems, Inc. (BSY), acquired 1,380 shares of Class B Common Stock.
• The transaction occurred on September 30, 2025, at 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 rights vest on the same terms as the underlying awards.
• Following this transaction, Mr. Bentley directly owns 15,348,804 shares of Class B Common Stock and indirectly owns 92,654 shares via a 401(K) Plan.

Sentiment

Score: 6

Explanation: The acquisition of shares by a director and significant owner, even through dividend equivalent rights, can be viewed as a minor positive signal of continued alignment with shareholder interests and confidence in the company.

Positives

• Increased insider ownership, even if through dividend equivalents, can signal continued alignment with shareholder interests and confidence in the company's long-term prospects.
• The acquisition of shares at $0.00 indicates these are part of a compensation or dividend reinvestment plan, which is a common and expected practice for executives and directors.

Future Outlook

The filing does not contain specific forward-looking statements or guidance.

Industry Context

This is a routine insider transaction filing (Form 4) and does not provide information relevant to broader industry trends or competitor analysis.

Related Party Transactions

• This filing details a related party transaction, specifically the acquisition of shares by Raymond B. Bentley, a Director and 10% Owner of Bentley Systems, Inc., through dividend equivalent rights.

Stakeholder Impact

• Shareholders: Minor positive impact due to increased insider ownership, potentially signaling confidence.
• Employees, Customers, Suppliers, Creditors: No direct impact from this specific transaction.

Key Dates

Recommendation

This Form 4 filing reports a routine insider transaction involving dividend equivalent rights. While it indicates continued insider ownership, it does not provide new material information that would significantly alter the investment thesis or warrant a strong buy or sell recommendation based solely on this disclosure. It's an expected event within the context of executive compensation.

Keywords

Bentley Systems, BSY, Raymond B. Bentley, Insider Transaction, Form 4, Class B Common Stock, Dividend Equivalent Rights, Director, 10% Owner, Share Acquisition