BSY Form 4: Ballard Brock Adds 64 Shares, Total 68,723

Rhea-AI Filing Summary

Ballard Brock, Chief Revenue Officer of Bentley Systems, Inc. (BSY), reported a non-derivative acquisition on 09/30/2025. The filing shows 64 shares of Class B Common Stock were acquired at a $0.00 price as dividend equivalent rights that vest on the same terms as the underlying awards. After the reported transactions, Mr. Brock beneficially owns 68,723 shares of Class B common stock. The filing also states the total includes shares purchased through the company’s Global Employee Stock Purchase Plan for the offering period ended 06/30/2025. The Form 4 was signed by an attorney-in-fact on 10/02/2025.

Positive

• Executive participation in the Global Employee Stock Purchase Plan for the period ended 06/30/2025
• Dividend equivalent rights converted into 64 Class B shares, adding to insider alignment

Negative

• None.

Insights

Corporate Insider / Executive Compensation Analyst

TL;DR: Executive acquired 64 Class B shares via dividend equivalents; total beneficial ownership is 68,723.

The transaction recorded on 09/30/2025 reflects dividend equivalent rights being converted into 64 Class B shares at no cash cost, which is typical for equity awards that pay dividend equivalents and vest with the underlying awards.

The filing discloses that the reported holdings include shares from the Global Employee Stock Purchase Plan for the offering period ended 06/30/2025, indicating routine employee participation rather than a separate open-market purchase.

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

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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^*

Ballard Brock

(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 Revenue 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)		64	A	$0.00	68,723(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 Ballard Brock report on Form 4 for BSY?

He reported acquiring 64 shares of Class B Common Stock on 09/30/2025 and now beneficially owns 68,723 shares.

Were any shares purchased with cash in this Form 4?

No; the 64 shares were reported as acquired at a $0.00 price representing dividend equivalent rights.

Does the filing mention participation in an employee purchase plan?

Yes; it states the total includes shares acquired through the Bentley Global Employee Stock Purchase Plan for the offering period ended 06/30/2025.

What is Ballard Brock’s position at Bentley Systems?

The filing lists him as the company’s Chief Revenue Officer.

When was the Form 4 signed?

The signature by Attorney-in-Fact Michael T. Fischette is dated 10/02/2025.