Form 4: Bentley Systems Director Sells Shares for Tax Obligations

Bentley Systems Director Raymond B. Bentley reported the disposition of 42,970 Class B Common Stock shares at $39.07 each to cover tax obligations from a deferred compensation plan distribution.

Summary

• Raymond B. Bentley, a Director and 10% Owner of Bentley Systems, Inc. (BSY), reported a transaction involving Class B Common Stock.
• On January 15, 2026, 42,970 shares of Class B Common Stock were disposed of at a price of $39.07 per share.
• This disposition represents shares withheld by the Issuer to cover taxes due by Mr. Bentley upon a scheduled distribution of Class B Common Stock from the Issuer's Non-Qualified Deferred Compensation Plan.
• Following this transaction, Mr. Bentley directly beneficially owns 15,060,613 shares of Class B Common Stock.
• Indirect beneficial ownership includes 125,000 shares held by a spouse and 92,654 shares held in a 401(K) Plan.

Sentiment

Score: 5

Explanation: The transaction is a neutral event, representing a routine disposition of shares to cover tax liabilities associated with a deferred compensation plan distribution, rather than a discretionary sale or purchase based on market sentiment.

Future Outlook

NA

Industry Context

This transaction is a routine insider filing related to personal tax obligations and does not reflect broader industry trends or competitive positioning for Bentley Systems.

Comparison to Industry Standards

• This is a personal tax-related transaction for an individual insider, not a company performance metric that can be compared to industry benchmarks or specific competitor results.

Stakeholder Impact

• Shareholders: Minimal impact, as it is a routine tax-related disposition by a director and does not indicate a change in company fundamentals or strategic direction.
• Employees: No direct impact mentioned.
• Customers: No direct impact mentioned.
• Suppliers: No direct impact mentioned.
• Creditors: No direct impact mentioned.

Key Dates

Recommendation

This Form 4 filing details a routine, non-discretionary disposition of shares by a director to cover tax obligations related to a deferred compensation plan distribution. It does not reflect a change in the company's operational performance, strategic outlook, or the director's confidence in the company. Therefore, it provides no new information that would warrant a change in investment recommendation, maintaining a 'hold' stance.

Keywords

Bentley Systems, BSY, Form 4, insider transaction, stock disposition, tax withholding, deferred compensation, Class B Common Stock, Raymond B. Bentley, corporate governance