Lee James K 4

What Happened

• James K. Lee, Chief Operating Officer of Bentley Systems (BSY), had performance-based restricted stock units vest on 2026-01-23. Upon vesting he acquired 12,396 shares at an attributable value of $38.84 per share (total $481,461). The issuer withheld 3,270 shares to cover tax withholding related to the vesting (3,270 shares × $38.84 = $127,007), which are reported as disposed for tax purposes.
• This was an award/vesting event (code A) with tax-withholding (code F), not an open-market buy or sell — a routine compensation-related transaction rather than a directional trade.

Key Details

• Transaction date: 2026-01-23; Filing date: 2026-01-27 (filing appears timely)
• Awarded/Acquired: 12,396 shares at $38.84 each — total value $481,461 (code A)
• Withheld/Disposed for taxes: 3,270 shares at $38.84 each — total value $127,007 (code F)
• Shares owned after transaction: Not disclosed in the provided filing data
• Footnotes: F1 — shares were acquired upon vesting of performance-based RSUs; F2 — shares were withheld by the issuer to cover taxes on those vested RSUs

Context

• Vesting of performance RSUs converts previously granted awards into common stock; the withholding of shares to cover taxes is a routine, administrative step (often seen as a cashless settlement).
• Such compensation-driven acquisitions are common for executives and do not necessarily signal a personal purchase decision or market view.