---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-22-037057"
form_type: "8-K"
ticker: "BSY"
cik: "0001031308"
company_name: "BENTLEY SYSTEMS INC"
filed_at: "2022-03-23T23:59:59+00:00"
generated_at: "2026-06-26T19:12:32.156718+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Bentley Systems sets compensation for COO Nicholas Cumins and CFO Werner Andre after promotions

## Summary
- Cash comp: Cumins base €587,709 and on-target incentive equal; Andre $400k base and same; effective April 1, 2022.
- Annual equity: Cumins 22,525 RSUs and 22,525 PSUs (max 28,156); Andre 13,580 each (max 16,975); 4-year vest.
- Extraordinary time-based RSUs: Cumins 77,161, Andre 23,148; cliff vest Jan 31, 2025.
- Extraordinary PSUs: Cumins 77,161, Andre 23,148; 3-year performance based on EBITDA margin and New Business; cliff vest Jan 31, 2025.

## SEC filing metadata
- accession: 0001104659-22-037057
- form_type: 8-K
- ticker: BSY
- cik: 0001031308
- company_name: BENTLEY SYSTEMS INC
- filed_at: 2022-03-23T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1031308/000110465922037057/0001104659-22-037057-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1031308/000110465922037057/tm2210251d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-22-037057
- JSON: https://secwatch.observer/filing/0001104659-22-037057.json
- Plain text: https://secwatch.observer/filing/0001104659-22-037057.txt

## Key facts
- Executive change
  Werner Andre changed role as Chief Financial Officer at BENTLEY SYSTEMS INC.
  - Action: promoted
  - Role: Chief Financial Officer
  source text: approved new compensation arrangements for Nicholas Cumins and Werner Andre, two of the Company’s named executive officers (together, the “Executive Officers”), in connection with their promotions to Chief Operating Officer and Chief Financial Officer, respectively.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1031308/000110465922037057/0001104659-22-037057-index.htm
- Executive change
  Nicholas Cumins changed role as Chief Operating Officer at BENTLEY SYSTEMS INC.
  - Action: promoted
  - Role: Chief Operating Officer
  source text: approved new compensation arrangements for Nicholas Cumins and Werner Andre, two of the Company’s named executive officers (together, the “Executive Officers”), in connection with their promotions to Chief Operating Officer and Chief Financial Officer, respectively.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1031308/000110465922037057/0001104659-22-037057-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.