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Bentley Systems Executive Compensation (FY25)

BSY · Exton, PA · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025
◇
Nicholas Cumins
Latest say-on-pay support
=
May 21, 2026
Chief executive pay ratio
◇
To the median employee
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Data as of October 22, 2026Latest filing (8-K): May 26, 2026
8 filings cited on this page
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Bentley Systems brief$1,500Get the executive brief
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226 figures on this page: 222 cited to the filing that reported them, 4 calculated from figures it prints. See the citations
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Nicholas Cumins: $13,465,407 → $4,815,961 (64.2% lower)
Say-on-pay support: 96.8% → 96.6% (0.2 points lower)
CEO pay ratio: 159:1 → 54:1 (66.0% lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is Bentley Systems' chief executive and what were they paid?
Nicholas Cumins was paid $4,815,961 in total compensation as Chief Executive Officer for fiscal 2025. Cumins' total moved 64.2% lower from the $13,465,407 reported for fiscal 2024.
What was Bentley Systems' say-on-pay result?
The say-on-pay proposal drew 96.6% of votes cast for or against in favor at the meeting held May 21, 2026 for fiscal 2025.
Which companies are in Bentley Systems' peer group?
The disclosed peer group names Akamai Technologies, Altair Engineering, Inc., ANSYS, Inc., Aspen Technology, Inc. and Autodesk, Inc., among others.
What is Bentley Systems' chief executive pay ratio?
For fiscal 2025, the company reported a chief executive pay ratio of 54:1, against median employee compensation of $88,531.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Gregory Bentley
Chairperson, Chief Executive Officer and President
◇—◇—◇—◇◇
Keith Bentley
Former Chief Technology Officer; Director
Departed during or after this year
◇—◇—◇—◇◇
Nicholas Cumins
Chief Operating Officer
◇—◇—◇—◇◇
David Hollister
Former Chief Investment Officer
Departed during or after this year
◇◇——◇—◇◇
Werner Andre
Chief Financial Officer and Chief Accounting Officer
◇—◇—◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Gregory Bentley
Chairperson, Chief Executive Officer and President
◇—◇—◇—◇◇
Brock Ballard
Chief Revenue Officer
◇—◇—◇—◇◇
Nicholas Cumins
Chief Operating Officer
◇—◇—◇—◇◇
Michael Campbell
Chief Product Officer
◇—◇—◇—◇◇
Werner Andre
Chief Financial Officer and Former Chief Accounting Officer
◇—◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Gregory Bentley
Executive Chairperson and President; Former Chief Executive Officer
Departed during or after this year
◇—◇—◇—◇◇
Nicholas Cumins
Chief Executive Officer
◇—◇—◇—◇◇
Werner Andre
Chief Financial Officer
◇—◇—◇—◇◇
David Shaman
Chief Legal Officer
◇—◇—◇—◇◇
Michael Campbell
Former Chief Product Officer
Departed during or after this year
◇—◇—◇—◇◇
Brock Ballard
Chief Revenue Officer
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
James Lee
Chief Operating Officer
◇—◇—◇—◇◇
Gregory Bentley
Executive Chairperson and President
◇—◇—◇—◇◇
Nicholas Cumins
Chief Executive Officer
◇—◇—◇—◇◇
Werner Andre
Chief Financial Officer
◇—◇—◇—◇◇
David Shaman
Chief Legal Officer
◇—◇—◇—◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
David R. ShamanRSU◇——◇——◇
David R. ShamanRSU◇——◇——◇
Gregory S. BentleyRSU———◇——◇
James K. LeeRSU◇——◇——◇
James K. LeeRSU◇——◇——◇
James K. LeeRSU◇——◇——◇
Nicholas H. CuminsRSU◇——◇——◇
Nicholas H. CuminsRSU◇——◇——◇
Nicholas H. CuminsRSU◇——◇——◇
Werner AndreRSU◇——◇——◇
Werner AndreRSU◇——◇——◇
Fiscal 2023, 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Werner AndreRSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
David ShamanRSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Nicholas CuminsPSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
James LeeRSU◇◇——
RSU◇◇——
PSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Severance and change in control

The terms as written in the agreements.
James Lee
Chief Operating Officer · Employment agreement · dated January 13, 2025
Equity acceleration on change in control◇
Excise tax treatment◇
Gregory Bentley
Executive Chair · Terms as described in the company’s compensation discussion · citing a 2025 filing
Change-in-control trigger◇
Equity acceleration on change in control◇
Nicholas Cumins
Chief Executive Officer · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance multiple◇
Severance cash amount◇
Benefits continuation◇

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Brian F. Hughes
◇◇————◇
Kirk B. Griswold
◇◇————◇
Janet B. Haugen
Lead independent director
◇◇————◇
Keith A. Bentley
◇—————◇
Raymond B. Bentley
◇—————◇
Barry J. Bentley
◇—————◇
Gregory S. Bentley and Nicholas H. Cumins served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Akamai Technologies AKAM
  • Altair Engineering, Inc. ALTR
  • ANSYS, Inc. ANSS
  • Aspen Technology, Inc. AZPN
  • Autodesk, Inc. ADSK
  • Cadence Design Systems CDNS
  • Dayforce (formerly Ceridian HCM) DAY
  • DocuSign DOCU
  • Dropbox DBX
  • Dynatrace DT
  • Fair Isaac FICO
  • Guidewire Software GWRE
  • Manhattan Associates MANH
  • Nutanix NTNX
  • Okta OKTA
  • PTC PTC
  • SPS Commerce SPSC
  • Tyler Technologies TYL
  • Verisign VRSN

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 21, 2026=◇◇◇
2024May 22, 2025=◇◇◇
2023May 23, 2024=◇◇◇
2022May 25, 2023=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇

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Sample answer — “What is the CEO’s total compensation?”
- Nicholas Cumins (Chief Executive Officer), FY2025 total compensation $4,815,961 (base salary $791,603) [exec_comp, SEC accession 0001104659-26-042019, filed 2026-04-10]

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What this page does not include

Everything above is a fact Bentley Systems disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Bentley Systems sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $499
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
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Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
226 figures on this page: 222 cited to the filing that reported them, 4 calculated from figures it prints.
222 cited to the filing
4 calculated from the filing

Documents cited

  1. 0001104659-26-066280
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0001104659-26-042019
    CEO Pay Ratio · EX-10.15 · EXECUTIVE AND DIRECTOR COMPENSATION · Grants of Plan-Based Awards in 2025 · and 2 more sections
  3. 0001104659-25-053010
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0001104659-25-034217
    Compensation Discussion and Analysis · Summary Compensation Table
  5. 0001104659-24-065596
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0001104659-24-046769
    SUMMARY COMPENSATION TABLE
  7. 0001628280-23-019939
  8. 0001104659-23-045616
    SUMMARY COMPENSATION TABLE
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Velarion, “Bentley Systems executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/BSY (accessed 2026).
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The Bentley Systems brief, $1,500

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
From $499 for the board report; $2,400 for both.
Get the executive briefGet the board briefNo account needed.
8 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
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Tech — Software rankings

Chief executive pay — Tech — SoftwareCEO pay ratio — Tech — SoftwareSay-on-pay support — Tech — Software

Peers Bentley Systems discloses

The companies named in BSY's own disclosed peer group.

Akamai TechnologiesAltair Engineering, Inc.ANSYS, Inc.Aspen Technology, Inc.Autodesk, Inc.Cadence Design SystemsDayforce (formerly Ceridian HCM)DocuSignDropboxDynatraceFair IsaacGuidewire SoftwareManhattan AssociatesNutanixOktaPTCSPS CommerceTyler TechnologiesVerisign

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies

Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.

Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
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