Bentley Systems (BSY) CLO awarded 546 Class B shares in Form 4

Rhea-AI Filing Summary

Bentley Systems Chief Legal Officer David R. Shaman reported an acquisition of 546 shares of Class B Common Stock. The shares were granted at a price of $0.00 per share as dividend equivalent rights that accrued in connection with a dividend on previously granted awards and will vest on the same terms as those awards.

Following this grant, Shaman directly holds 659,575 shares of Class B Common Stock. He also has indirect ownership interests in additional Class B shares held by Grantor Retained Annuity Trusts, by a spouse acting as trustee, and by a 401(k) plan.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider Shaman David R.

Role Chief Legal Officer

Type	Security	Shares	Price	Value
Grant/Award	Class B Common Stock	546	$0.00	--
holding	Class B Common Stock	--	--	--
holding	Class B Common Stock	--	--	--
holding	Class B Common Stock	--	--	--

Holdings After Transaction: Class B Common Stock — 659,575 shares (Direct); Class B Common Stock — 279,308 shares (Indirect, By Grantor Retained Annuity Trusts)

Footnotes (1)

1. [object Object]

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Shaman David R.

(Last) (First) (Middle)

C/O BENTLEY SYSTEMS, INCORPORATED

685 STOCKTON DRIVE

(Street)

EXTON PENNSYLVANIA 19341

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
BENTLEY SYSTEMS INC [ BSY ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Legal Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/19/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class B Common Stock	03/19/2026		A(1)		546	A	$0.00	659,575	D
Class B Common Stock								279,308	I	By Grantor Retained Annuity Trusts
Class B Common Stock								55,527	I	By Spouse Trustee
Class B Common Stock								32,635	I	By 401(K) Plan

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents dividend equivalent rights that accrued to the Reporting Person in connection with a dividend paid by the Issuer on awards previously granted and vest on the same terms as the awards to which they relate.

	/s/ Michael T. Fischette, Attorney-in-Fact	03/23/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What did Bentley Systems (BSY) Chief Legal Officer report in this Form 4?

The filing reports that Chief Legal Officer David R. Shaman acquired 546 shares of Class B Common Stock. These were granted at $0.00 per share as dividend equivalent rights tied to previously granted awards and follow the same vesting terms as those underlying awards.

How many Bentley Systems (BSY) shares were granted to David R. Shaman?

David R. Shaman was granted 546 shares of Class B Common Stock. The grant reflects dividend equivalent rights that accrued when Bentley Systems paid a dividend on earlier equity awards and will vest on the same schedule as those original awards.

What are dividend equivalent rights in the Bentley Systems (BSY) Form 4?

Dividend equivalent rights give the holder additional shares when the company pays dividends on underlying awards. In this case, Shaman received 546 Class B shares as dividend equivalents, and these new shares will vest under the same terms as the related prior awards.

What are David R. Shaman’s direct Bentley Systems (BSY) holdings after this transaction?

After the reported grant, David R. Shaman directly holds 659,575 shares of Bentley Systems Class B Common Stock. This figure reflects his direct ownership only and does not include shares held indirectly through trusts, a spouse as trustee, or a 401(k) plan.

What indirect Bentley Systems (BSY) holdings are associated with David R. Shaman?

The Form 4 lists indirect holdings of Class B Common Stock through Grantor Retained Annuity Trusts, a spouse acting as trustee, and a 401(k) plan. These indirect positions are reported separately from his direct holdings of 659,575 shares, providing additional ownership context.

Does this Bentley Systems (BSY) Form 4 show any share sales by David R. Shaman?

The Form 4 shows no sales of Bentley Systems shares by David R. Shaman. It records one acquisition of 546 Class B shares as a grant of dividend equivalent rights, with no reported open-market purchases, sales, or derivative exercises in this filing.