[Form 4] BENTLEY SYSTEMS INC Insider Trading Activity

Rhea-AI Filing Summary

Bentley Systems insider Julien Moutte, the company's Chief Technology Officer, reported acquiring 58 shares of Class B Common Stock on 09/30/2025 at a reported price of $0.00. The filing states these 58 shares represent dividend-equivalent rights that will vest on the same terms as the related awards. After the reported transaction, the reporting person beneficially owns 68,903 shares of Class B common stock. The filing also discloses that this total includes shares purchased through the Bentley Global Employee Stock Purchase Plan for the offering period ended June 30, 2025, for which enrollment and contribution elections were made in December 2024. The Form 4 is signed by an attorney-in-fact on behalf of the reporting person on 10/02/2025.

Positive

• 58 dividend-equivalent shares were granted and reported as acquired on 09/30/2025
• Reporting person increased beneficial ownership to 68,903 shares of Class B common stock
• Insider participation in the Bentley Global Employee Stock Purchase Plan for the offering period ended June 30, 2025

Negative

• None.

Insights

Corporate Insider

Insider received 58 dividend-equivalent shares; holding increased to 68,903.

The Form 4 confirms the CTO received 58 dividend-equivalent shares that vest with related awards, recorded as acquired on 09/30/2025 at a stated price of $0.00. This is a non-cash grant recognition rather than an open-market purchase.

The filing also shows the insider participates in the company's ESPP, contributing in December 2024 for the offering period ending June 30, 2025, which contributed to the reported 68,903-share beneficial ownership.

Compensation Analyst

Received dividend-equivalent rights and ESPP shares; routine compensation-related change.

The 58 shares are characterized as dividend-equivalent rights tied to prior awards, indicating these are compensation-related accruals rather than discretionary market transactions. The ESPP purchase disclosure notes standard employee participation and timing.

No exercise prices, option grants, or derivative transactions are reported on this Form 4, and the transaction price is shown as $0.00.

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).

1. Name and Address of Reporting Person^*

Moutte Julien

(Last) (First) (Middle)

C/O BENTLEY SYSTEMS, INCORPORATED

685 STOCKTON DRIVE

(Street)

EXTON PA 19341

(City) (State) (Zip)

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 Technology Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2025

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

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

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

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	09/30/2025		A(1)		58	A	$0.00	68,903(2)	D

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.

2. Includes shares of Class B Common Stock acquired by the Reporting Person through the Bentley Systems, Incorporated Global Employee Stock Purchase Plan for an offering period ended on June 30, 2025 for which the Reporting Person's enrollment and contribution elections were made in December 2024.

	/s/ Michael T. Fischette, Attorney-in-Fact	10/02/2025
	** 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.

FAQ

What did Bentley Systems insider Julien Moutte report on Form 4 (BSY)?

The filing reports acquisition of 58 Class B shares as dividend-equivalent rights on 09/30/2025, bringing beneficial ownership to 68,903 shares.

Were the 58 shares purchased or granted for free?

The Form 4 lists the transaction price as $0.00, and the explanation states they are dividend-equivalent rights tied to previously granted awards.

Does the Form 4 show participation in an employee purchase plan?

Yes. The filing states the beneficial ownership total includes shares acquired through the Bentley Global Employee Stock Purchase Plan for the offering period ended June 30, 2025.

When were the ESPP enrollment and contributions made for the reported shares?

Enrollment and contribution elections for the ESPP were made in December 2024 for the offering period ended June 30, 2025.

Who signed the Form 4 and when?

The Form 4 was signed by Michael T. Fischette, Attorney-in-Fact on 10/02/2025.