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Filing Details

Accession Number:: 0001104659-23-085387
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2023-07-28 17:06:25
Reporting Period:: 2023-07-26

Accepted Time:: 2023-07-28 17:06:25
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1031308	Bentley Systems Inc	BSY	Services-Prepackaged Software (7372)	953936623

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1214661	S Gregory Bentley	C/O Bentley Systems, Incorporated 685 Stockton Drive Exton PA 19341	Chairman, Ceo & President	Yes	Yes	Yes	No

Reported Non-Derivative Transactions

Show Other Fields >>

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Class B Common Stock	Acquisiton	2023-07-26	59,352	$53.09	8,032,940	No	4	A	Direct
Class B Common Stock	Disposition	2023-07-26	26,109	$53.09	8,006,831	No	4	F	Direct
Class B Common Stock	Disposition	2023-07-26	41,601	$52.95	7,965,230	No	4	S	Direct
Class B Common Stock	Disposition	2023-07-27	25,695	$52.90	7,939,535	No	4	S	Direct
Class B Common Stock	Disposition	2023-07-27	16,918	$53.55	7,922,617	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	A	Direct
No	4	F	Direct
No	4	S	Direct
No	4	S	Direct
No	4	S	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Class B Common Stock	137,512	Indirect	By spouse
Class B Common Stock	92,654	Indirect	By 401(K) Plan

Footnotes

Represents the stock portion of compensation paid to the Reporting Person pursuant to the Issuer's Bonus Pool Plan (the "Bonus Pool Payment").
Represents shares withheld by the Issuer to cover taxes owed by the Reporting Person in respect of the Bonus Pool Payment.
As previously disclosed by Bentley Systems, Incorporated (the "Company"), during the second quarter of 2022 the Company began to exercise its right to require that certain awardees of equity compensation and recipients of distributions from the Company's nonqualified deferred compensation plan receive vested awards and distributions (as applicable) in the form of gross quantities of Company Class B Common Stock (the "Common Stock") and to require such awardees and recipients to promptly reimburse the Company for their tax withholding amounts in cash. Prior to that election, all such vesting and distributions were made on a net basis, with the Company withholding shares of Common Stock in consideration of remitting withholding taxes on behalf of recipients.
Due to a 1,000 character limit, Footnote 4 is a continuation of Footnote 3: Accordingly, in light of this change in practice, the Reporting Person entered into a 10b5-1 trading plan on August 12, 2022 (the "Plan") to sell previously-owned shares of Common Stock for the primary purpose of meeting his current and future tax withholding obligations. All sales reflected on this Form 4 were made pursuant to the Plan.
The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions on July 26, 2023 at prices ranging from $52.62 to $53.52. The Reporting Person undertakes to provide to the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions on July 27, 2023 at prices ranging from $52.39 to $53.36. The Reporting Person undertakes to provide to the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions on July 27, 2023 at prices ranging from $53.40 to $53.625. The Reporting Person undertakes to provide to the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.