Shaman David R. 4

What Happened

• David R. Shaman, Chief Legal Officer of Bentley Systems (BSY), was granted 546 shares on 2026-03-19. The Form 4 reports these as an award/acquisition (code A) at $0.00 per share (total reported cash value $0).
• This transaction reflects an equity award (dividend-equivalent rights that accrued on previously granted awards), not an open-market purchase or sale. Awards are routine compensation events and are not direct market buy signals.

Key Details

• Transaction date: 2026-03-19; Form 4 filed: 2026-03-23 (filed within normal reporting window).
• Transaction type/code: A — Grant/Award (acquisition).
• Amount: 546 shares; reported price: $0.00; reported cash value: $0.
• Footnote: F1 — these are dividend-equivalent rights that accrued in connection with a dividend on previously granted awards and vest on the same terms as those awards.
• Shares owned after transaction: not specified in the information provided.
• No sale, tax withholding, or 10b5-1 plan noted in the filing.

Context

• Dividend-equivalent awards typically convert dividend payments on prior awards into additional award shares that follow the same vesting schedule; they are compensation-related and do not necessarily indicate insider market sentiment.
• Because no cash was exchanged and the award vests per prior grant terms, this should be viewed as part of routine equity compensation rather than a directional trade.