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Bentley Systems (BSY) CEO granted new time-based RSU awards

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(Neutral)
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Form Type
4

Rhea-AI Filing Summary

Cumins Nicholas reported acquisition or exercise transactions in this Form 4 filing.

Bentley Systems Chief Executive Officer Nicholas Cumins received two equity awards of Class B Common Stock as part of his compensation. He was granted 74,839 time-based restricted stock units under the Career Stock Program that vest on December 15, 2030, and 28,107 time-based restricted stock units under the 2020 Omnibus Incentive Plan that vest in four equal annual installments on each grant date anniversary. Following these grants, he directly owns a total of 540,188 shares of Class B Common Stock.

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Insider Cumins Nicholas
Role Chief Executive Officer
Type Security Shares Price Value
Grant/Award Class B Common Stock 74,839 $0.00 --
Grant/Award Class B Common Stock 28,107 $0.00 --
Holdings After Transaction: Class B Common Stock — 512,081 shares (Direct)
Footnotes (1)
  1. Represents a time-based restricted stock unit award granted pursuant to the Issuer's Career Stock Program which vests on December 15, 2030. Represents a time-based restricted stock unit award granted pursuant to the Issuer's 2020 Omnibus Incentive Plan which vests over four years with one-quarter of such award vesting on each grant date anniversary.
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*
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)
03/06/2026
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 03/06/2026 A(1) 74,839 A $0.00 512,081 D
Class B Common Stock 03/06/2026 A(2) 28,107 A $0.00 540,188 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 a time-based restricted stock unit award granted pursuant to the Issuer's Career Stock Program which vests on December 15, 2030.
2. Represents a time-based restricted stock unit award granted pursuant to the Issuer's 2020 Omnibus Incentive Plan which vests over four years with one-quarter of such award vesting on each grant date anniversary.
/s/ Michael T. Fischette, Attorney-in-Fact 03/10/2026
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What did Bentley Systems (BSY) CEO Nicholas Cumins report in this Form 4?

Nicholas Cumins reported receiving two equity awards of Class B Common Stock as compensation. These grants are time-based restricted stock units that vest over time and increase his direct ownership stake in Bentley Systems to 540,188 shares after the reported transactions.

How many Bentley Systems (BSY) shares were granted to the CEO in this filing?

The CEO received 74,839 restricted stock units under the Career Stock Program and 28,107 restricted stock units under the 2020 Omnibus Incentive Plan. Both awards are recorded at a price of $0.0000 per share, reflecting stock-based compensation rather than open-market purchases.

What are the vesting terms of Nicholas Cumins’ new Bentley Systems (BSY) awards?

The 74,839-unit award vests fully on December 15, 2030 under the Career Stock Program. The 28,107-unit award vests over four years, with one-quarter of the restricted stock units vesting on each anniversary of the grant date, subject to continued service conditions.

How many Bentley Systems (BSY) shares does the CEO own after these grants?

After the reported transactions, Nicholas Cumins directly owns 540,188 shares of Bentley Systems Class B Common Stock. This figure reflects his ownership following both time-based restricted stock unit awards disclosed in the Form 4 insider transaction report filed with regulators.

Were these Bentley Systems (BSY) CEO transactions open-market buys or sales?

These transactions were not open-market buys or sales. They are coded as “A” for grant or award, representing time-based restricted stock unit grants made at no cash cost per share as part of Bentley Systems’ equity compensation programs for its Chief Executive Officer.

Which Bentley Systems (BSY) plans granted the CEO these restricted stock units?

One award was granted under Bentley Systems’ Career Stock Program and consists of 74,839 restricted stock units. The other award, for 28,107 restricted stock units, was granted under the company’s 2020 Omnibus Incentive Plan, which governs various stock-based compensation arrangements.