Moutte Julien 4

What Happened

• Julien Moutte, Chief Technology Officer of Bentley Systems (BSY), received 17,240 shares upon the vesting of performance-based restricted stock units on 2026-01-23. The shares were valued at $38.84 each for a total grant value of $669,602. To satisfy tax withholding, 8,459 shares were withheld (disposed) at the same $38.84 price, equal to $328,548. Net shares added to his holdings from this vesting = 8,781 shares (net value ≈ $341,054).

Key Details

• Transaction date: 2026-01-23; price per share: $38.84.
• Award (code A): 17,240 shares acquired upon RSU vesting (total $669,602).
• Tax withholding (code F): 8,459 shares withheld to cover taxes (total $328,548).
• Net change: +8,781 shares retained by the insider (≈ $341,054 net value).
• Footnotes: F1 = vesting of performance-based RSUs; F2 = shares withheld for taxes upon vesting; F3 notes additional Class B shares acquired via the Bentley ESPP for the offering period ended 12/31/2025 (enrollment made June 2025).
• Shares owned after the transaction: not specified in this Form 4.
• Filing timeliness: filed 2026-01-27 for a 2026-01-23 transaction — within the required two business days (timely).

Context

• This filing documents RSU vesting (an award), not an open-market buy or sale. The withholding of shares to cover taxes is a common cashless settlement method and is routine; it reduces the net shares received but does not indicate an open-market sale of remaining shares.
• For retail investors: awards/vestings increase an insider's stake but do not necessarily signal new bullish buying behavior; they often reflect compensation vesting schedules.