secwatch.observer — SEC 8-K summary
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Issuer:     BENTLEY SYSTEMS INC (BSY)
CIK:        0001031308
Form:       8-K/A
Filed at:   2024-06-28T23:59:59+00:00
Accession:  0001104659-24-076289
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bentley Systems sets CEO Cumins' compensation: $825K salary, $200K+ RSU grant, severance policy
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- Cumins receives $825,755 base salary and OTI target of $825,755 effective July 1, 2024, plus 2,337 RSUs and PSUs as top-up.
- One-time extraordinary RSU award of 200,642 shares (vests 20% annually Dec 2025-2029) granted to Cumins.
- Career Stock Program adopted for Cumins with formula based on Adjusted OI w/ SBC growth; no awards granted yet.
- Severance Policy for key executives adopted; Cumins sole participant — 12 months pay (avg of prior 2 yrs base + cash incentive) plus COBRA.
- Gregory Bentley's Bonus Pool Plan interest reduced from 12/33 to 4/33; base salary unchanged at $200,000.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1031308/000110465924076289/0001104659-24-076289-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1031308/000110465924076289/tm2418463d1_8ka.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-076289

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