Bentley Systems legal chief acquires 469 shares

Bentley Systems Inc. Chief Legal Officer David R. Shaman acquired 469 Class B common shares on September 29, 2026, as dividend equivalent rights accrued on previously granted awards; the rights vest on the same terms as those awards.

Rhea-AI Filing Summary

Bentley Systems Inc. Chief Legal Officer David R. Shaman acquired 469 Class B common shares on September 29, 2026, as dividend equivalent rights accrued on previously granted awards; the rights vest on the same terms as those awards. His reported direct holdings afterward were 622,995 shares, adjusted for dividend equivalent rights incorrectly included in prior reports. Reported indirect holdings included 279,308 shares by Grantor Retained Annuity Trusts, 80,000 by a spouse trustee and 32,635 in a 401(k) plan.

Insider Trade Summary

Grant/Award: 469 shares

Grant/Award 4 txns

Insider Shaman David R.

Role Chief Legal Officer

Type	Security	Shares	Price	Value
Grant/Award	Class B Common Stock F1, F2	469	$0.00	$0.00
holding	Class B Common Stock	--	--	--
holding	Class B Common Stock	--	--	--
holding	Class B Common Stock	--	--	--

Holdings After Transaction: Class B Common Stock — 622,995 shares (Direct); Class B Common Stock — 279,308 shares (Indirect, By Grantor Retained Annuity Trusts); Class B Common Stock — 80,000 shares (Indirect, By Spouse Trustee); Class B Common Stock — 32,635 shares (Indirect, By 401(K) Plan)

Footnotes (2)

1. F1. 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. F2. Total has been adjusted to account for dividend equivalent rights incorrectly included in prior reports.

Key Figures

Shares acquired: 469 shares Reported transaction price: $0.0000 per share Direct holdings after transaction: 622,995 shares +3 more

6 metrics

Shares acquired 469 shares Class B common shares acquired September 29, 2026

Reported transaction price $0.0000 per share Class B common shares acquired as dividend equivalent rights

Direct holdings after transaction 622,995 shares Class B common stock; total adjusted for dividend equivalent rights incorrectly included in prior reports

Shares held by Grantor Retained Annuity Trusts 279,308 shares Reported indirect holding

Shares held by spouse trustee 80,000 shares Reported indirect holding

Shares held by 401(k) plan 32,635 shares Reported indirect holding

Key Terms

dividend equivalent rights, Grantor Retained Annuity Trusts, Class B Common Stock

3 terms

dividend equivalent rights financial

"Represents dividend equivalent rights that accrued to the Reporting Person"

Dividend equivalent rights are promises that mirror the cash payments shareholders get from a company’s profits, but they are paid to holders of certain awards (like stock options or restricted stock units) rather than to actual shares. Think of them as a paycheck top‑up that matches dividends while the award is not yet a real stock, and they matter to investors because they add to employee compensation costs and potential share dilution, affecting company profitability and per‑share value.

Grantor Retained Annuity Trusts financial

"By Grantor Retained Annuity Trusts"

A grantor retained annuity trust (GRAT) is an estate-planning tool where an owner transfers assets into a trust and receives fixed payments back for a set number of years; any remaining assets after that period pass to designated beneficiaries. For investors it matters because it can move future investment growth to heirs while potentially reducing gift and estate taxes — like putting a rising asset in a timed box that pays you first and gives the remaining upside to others.

Class B Common Stock financial

"Class B Common Stock"

A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many BSY shares did the chief legal officer acquire?

David R. Shaman acquired 469 Class B common shares on September 29, 2026. They were dividend equivalent rights accrued on previously granted awards and vest on the same terms as those awards.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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Available on EDGAR 10/01/2026 - 04:45 PM Accepted by SEC EDGAR 10/01/2026 - 04:45 PM Learn about SEC filing dates

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)
09/29/2026

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	09/29/2026		A(1)		469	A	$0.00	622,995(2)	D
Class B Common Stock								279,308	I	By Grantor Retained Annuity Trusts
Class B Common Stock								80,000	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.

2. Total has been adjusted to account for dividend equivalent rights incorrectly included in prior reports.

	/s/ Michael T. Fischette, Attorney-in-Fact	10/01/2026
	** 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)