secwatch.observer — SEC 8-K summary
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Issuer:     BENTLEY SYSTEMS INC (BSY)
CIK:        0001031308
Form:       8-K
Filed at:   2022-03-23T23:59:59+00:00
Accession:  0001104659-22-037057
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1031308/000110465922037057/0001104659-22-037057-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1031308/000110465922037057/tm2210251d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-037057

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer