secwatch.observer — SEC 8-K summary
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Issuer:     BENTLEY SYSTEMS INC (BSY)
CIK:        0001031308
Form:       8-K
Filed at:   2022-12-15T23:59:59+00:00
Accession:  0001104659-22-127361
Event type: debt
Sentiment:  positive
Materiality: 0.60
Item codes: 1.01, 8.01, 2.03, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1031308/000110465922127361/0001104659-22-127361-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1031308/000110465922127361/tm2232657d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-127361

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