David R. Shaman - May 18, 2023 Form 4 Insider Report for BENTLEY SYSTEMS INC (BSY)

Role
Chief Legal Officer
Signature
/s/ Michael T. Fischette, Attorney-in-Fact
Stock symbol
BSY
Transactions as of
May 18, 2023
Transactions value $
-$2,074,296
Form type
4
Date filed
5/22/2023, 04:15 PM
Previous filing
May 11, 2023
Next filing
Jun 22, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BSY Class B Common Stock Options Exercise $452K +85.2K +14.97% $5.31 654K May 18, 2023 Direct
transaction BSY Class B Common Stock Tax liability -$1.97M -42.5K -6.5% $46.42 611K May 18, 2023 Direct F1
transaction BSY Class B Common Stock Options Exercise $100K +18.9K +3.08% $5.31 630K May 18, 2023 Direct
transaction BSY Class B Common Stock Tax liability -$100K -2.15K -0.34% $46.58 628K May 18, 2023 Direct F2
holding BSY Class B Common Stock 320K May 18, 2023 By Grantor Retained Annuity Trusts
holding BSY Class B Common Stock 32.6K May 18, 2023 By 401(K) Plan

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction BSY Stock Options (Right to Buy) Options Exercise -$452K -85.2K -81.88% $5.31 18.9K May 18, 2023 Class B Common Stock 85.2K $5.31 Direct F3
transaction BSY Stock Options (Right to Buy) Options Exercise -$100K -18.9K -100% $5.31 0 May 18, 2023 Class B Common Stock 18.9K $5.31 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares withheld by the Issuer to cover the exercise price and taxes in connection with a cashless exercise of stock options by the Reporting Person.
F2 Represents the number of shares of Class B Common Stock owned by the Reporting Person and relinquished to the Issuer to cover the exercise price of options exercised via a stock swap exercise method.
F3 These options were fully vested, and, following the exercises on May 18, 2023, have been exercised in full.