Bentley Systems (BSY) Announces $200M BSY Stock Repurchase Program

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Go back to Bentley Systems (BSY) Announces $200M BSY Stock Repurchase Program

Bentley Systems Announces BSY Stock Repurchase Program

May 11, 2022 2:16 PM EDT

EXTON, Pa.--(BUSINESS WIRE)-- Bentley Systems, Incorporated (Nasdaq: BSY) (Bentley Systems or the Company), the infrastructure engineering software company, today announced its Board of Directors approved the BSY Stock Repurchase Program authorizing the Company to repurchase up to $200 million of BSY Class B common stock through June 30, 2024.

The Company traditionally repurchased BSY shares de facto by issuing its equity grants, and especially Deferred Compensation Plan distributions, on a net basis, holding back shares in consideration of remitting withholding taxes on behalf of recipients. This practice resulted in cash outlays for such de facto share... More