Form 4: Bentley Systems Executive Chair Sells Shares for Tax

Gregory S. Bentley, Executive Chair and President of Bentley Systems, disposed of 8,932 Class B Common Stock shares to cover tax liabilities.

Summary

• Gregory S. Bentley, Executive Chair and President of Bentley Systems, Inc. (BSY), reported a disposition of Class B Common Stock.
• The transaction occurred on December 1, 2025, and involved 8,932 shares of Class B Common Stock.
• The shares were disposed of at a price of $41.85 per share.
• This disposition was an 'F' transaction code, indicating shares withheld by the Issuer to cover taxes due by the Reporting Person.
• The tax liability arose from a scheduled distribution of Class B Common Stock from the Issuer's Non-Qualified Deferred Compensation Plan.
• Following this transaction, Gregory S. Bentley directly beneficially owns 7,591,643 shares of Class B Common Stock.
• Indirect beneficial ownership includes 29,155 shares by spouse and 92,654 shares by a 401(K) Plan.

Sentiment

Score: 5

Explanation: The filing reports a routine insider transaction for tax withholding purposes, which is a neutral event and does not reflect a change in management's confidence or the company's operational performance.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This Form 4 filing details a routine insider transaction for tax purposes, which is a common occurrence for executives receiving equity compensation. It does not provide information relevant to broader industry trends or competitive positioning.

Stakeholder Impact

• Shareholders: Minimal impact as this is a routine, non-discretionary transaction for tax purposes and does not indicate a change in the executive's long-term commitment or the company's fundamentals.
• Employees: No direct impact on employees is indicated by this filing.
• Customers/Suppliers/Creditors: No direct impact on these stakeholders is indicated by this filing.

Key Dates

Recommendation

This Form 4 filing details a routine, non-discretionary disposition of shares by an executive to cover tax obligations arising from a compensation plan. Such transactions are common and do not typically signal a change in the company's fundamental value, operational performance, or the executive's long-term outlook on the company. Therefore, it does not warrant a change in investment recommendation based solely on this information.

Keywords

Bentley Systems, BSY, Form 4, Insider Transaction, Executive Compensation, Tax Withholding, Class B Common Stock