---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-22-127361"
form_type: "8-K"
ticker: "BSY"
cik: "0001031308"
company_name: "BENTLEY SYSTEMS INC"
filed_at: "2022-12-15T23:59:59+00:00"
generated_at: "2026-06-21T03:52:42.427633+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Bentley Systems expands repurchase program to include convertible notes, amends credit facility

## Summary
- Board amended BSY Stock Repurchase Program to allow repurchase of convertible senior notes due 2026/2027; $200M limit unchanged.
- Fifth Amendment to credit facility permits up to $75M/year in restricted prepayments/repurchases of subordinated/convertible debt.
- Unlimited debt repurchases allowed if Net Senior Secured Leverage Ratio is below 2.75 to 1.00.
- Approves retirement vesting policy for equity awards (age+service >=75) applicable to awards held by Gus Bergsma and future awards.

## SEC filing metadata
- accession: 0001104659-22-127361
- form_type: 8-K
- ticker: BSY
- cik: 0001031308
- company_name: BENTLEY SYSTEMS INC
- filed_at: 2022-12-15T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 8.01, 2.03, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1031308/000110465922127361/0001104659-22-127361-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1031308/000110465922127361/tm2232657d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-22-127361
- JSON: https://secwatch.observer/filing/0001104659-22-127361.json
- Plain text: https://secwatch.observer/filing/0001104659-22-127361.txt

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