SCHEDULE: Bentley Systems: Logan Trustee of Key Class B Shares
Beneficial Ownership Disclosure
Joseph P. Logan, as trustee, now beneficially owns 4.6% of Bentley Systems' Class B Common Stock through four gift trusts.
Summary
- Joseph P. Logan is the reporting person for 13,335,473 shares of Bentley Systems, Incorporated Class B Common Stock.
- These shares represent 4.6% of the total Class B Common Stock outstanding.
- The shares are held by four separate gift trusts, for which Joseph P. Logan serves as trustee.
- Joseph P. Logan has sole voting and dispositive power over these shares.
- The ownership percentage is based on 292,093,306 shares of Class B common stock outstanding as of June 30, 2025, as reported in Bentley Systems' Form 10-Q filed on August 6, 2025.
- This filing is an Amendment No. 2 to a Schedule 13G.
Sentiment
Score: 5
Explanation: This is a routine beneficial ownership disclosure (Schedule 13G) and does not contain information that would typically indicate positive or negative operational or financial performance for the company. It primarily provides transparency on a significant ownership stake.
Positives
- Continued significant beneficial ownership by trusts associated with the Bentley family, indicating long-term alignment with company interests.
- The filing explicitly states the shares are not held for the purpose of changing or influencing control of the issuer, which can provide stability.
Risks
- The filing explicitly states the shares are not acquired or held for the purpose of changing or influencing control of the issuer, mitigating a potential risk of activist investor intervention.
Future Outlook
NA
Industry Context
This filing is a routine disclosure of beneficial ownership and does not provide specific industry context or trends. It primarily relates to the ownership structure of Bentley Systems' Class B shares.
Stakeholder Impact
- Shareholders: Provides transparency regarding a significant beneficial ownership stake and confirms the shares are not held for control-changing purposes.
Key Dates
| Date | Description |
|---|---|
| June 2, 2023 | Joseph Logan appointed trustee of the Gregory S. Bentley 2009 Gift Trust. |
| June 30, 2025 | Date of event requiring filing of this statement; also the date for shares outstanding calculation. |
| August 6, 2025 | Date Bentley Systems' Quarterly Report on Form 10-Q was filed, disclosing shares outstanding. |
| August 12, 2025 | Date of filing of this Schedule 13G. |
Keywords
Bentley Systems, BSY, Class B Common Stock, beneficial ownership, Schedule 13G, Joseph P. Logan, trust, corporate governance, SEC filing
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