Cumins Nicholas 4

What Happened Nicholas Cumins, CEO of Bentley Systems (BSY), had 24,532 performance-based restricted stock units vest on 2026-01-23, resulting in the acquisition of 24,532 shares at an attributed price of $38.84 (total value reported $952,823). To cover tax withholding, the issuer withheld 10,402 of those shares (disposition) at the same price for a value of $404,014, leaving a net issuance to Cumins of 14,130 shares (net value ≈ $548,809).

Key Details

• Transaction date: 2026-01-23; Filing date: 2026-01-27 (filed within the Form 4 reporting window).
• Awarded (A): 24,532 shares @ $38.84 = $952,823.
• Tax withholding (F): 10,402 shares @ $38.84 = $404,014 (shares withheld by issuer to cover taxes).
• Net shares added to holdings: 14,130 (24,532 − 10,402); net value ≈ $548,809.
• Shares owned after the transaction: not disclosed in the Form 4 filing.
• Footnotes: F1 indicates shares came from vesting of performance-based RSUs; F2 indicates shares withheld by the issuer for taxes.
• No open-market sale or purchase reported — this was vesting of awards with routine tax withholding.

Context This was a vesting of performance-based restricted stock units (not a market buy or sale). Issuer withholding of shares to satisfy tax obligations is a common administrative step and does not necessarily indicate a change in CEO sentiment. The filing appears timely (submitted within the required reporting window).