Bentley Systems (BSY) CEO Receives 387 Class B Shares

Nicholas Cumins, Chief Executive Officer and director of Bentley Systems, Inc. (BSY), received 387 Class B common shares on 09/30/2025.

Rhea-AI Filing Summary

Nicholas Cumins, Chief Executive Officer and director of Bentley Systems, Inc. (BSY), received 387 Class B common shares on 09/30/2025. These shares are described as dividend equivalent rights that accrued in connection with a company dividend on previously granted awards and will vest on the same terms as the underlying awards. After this transaction, the reporting person beneficially owns 439,789 Class B shares. The Form 4 was signed by an attorney-in-fact on behalf of the reporting person on 10/02/2025. No exercise price or cash consideration was reported for the acquired shares.

Positive

• 387 Class B shares issued as dividend equivalents increased the CEO's beneficial ownership
• The shares vest on the same terms as the underlying awards, maintaining existing award structure

Negative

• None.

Insights

Corporate Governance Analyst

Small, non-cash grant increases CEO's beneficial stake by 387 shares.

This Form 4 reports 387 Class B shares issued as dividend equivalent rights tied to previously granted awards; they vest on the same schedule as those awards, indicating no new performance terms disclosed.

The transaction is non-cash ($0.00 listed) and raises the reporting owner’s total to 439,789 Class B shares, a fact investors use to track insider alignment with shareholders.

Insider Trade Summary

Grant/Award: 387 shares

Grant/Award 1 txn

Insider Cumins Nicholas

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Grant/Award	Class B Common Stock	387	$0.00	$0.00

Holdings After Transaction: Class B Common Stock — 439,789 shares (Direct)

Footnotes (1)

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.

FAQ

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

What did the Form 4 for Bentley Systems (BSY) report?

The Form 4 reports that CEO Nicholas Cumins acquired 387 Class B shares as dividend equivalent rights on 09/30/2025.

How many Class B shares does the reporting person own after the transaction?

The reporting person beneficially owns 439,789 Class B shares following the transaction.

Was there any cash paid for the shares reported on the Form 4?

No cash consideration was reported; the price is listed as $0.00 for the acquired shares.

What is the nature of the shares acquired by the reporting person?

The shares are described as dividend equivalent rights that accrued from a company dividend on previously granted awards and vest on the same terms as those awards.

When was the Form 4 signed and filed?

The signature on the Form 4 is dated 10/02/2025; the reported transaction date is 09/30/2025.

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

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Accepted by SEC EDGAR 10/02/2025 - 04:20 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).

1. Name and Address of Reporting Person^*

Cumins Nicholas

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive 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)		387	A	$0.00	439,789	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.

	/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.