Nicholas H. Cumins

Chief Executive Officer at BENTLEY SYSTEMS

Board

Since July 1, 2024

Age

48 years

Education

Holds Maîtrise de Droit (Law) and Maîtrise de Sciences de Gestion (Business) degrees from University Paris II Panthéon-Assas in Paris, France.

Tenure

Joined Bentley Systems as Chief Product Officer in September 2020, was promoted to Chief Operating Officer in January 2022, and became Chief Executive Officer on July 1, 2024.

Also at BENTLEY SYSTEMS

GSB

Gregory S. Bentley

Executive Chairperson and President

Brock Ballard

Chief Revenue Officer

DRS

David R. Shaman

Chief Legal Officer and Secretary

About

Nicholas H. Cumins is a dual French and U.S. citizen based in France, with extensive experience in product management, corporate strategy, and executive leadership. He established his academic credentials by earning advanced degrees in law and business from University Paris II Panthéon-Assas, providing a solid foundation for his successful career.

He began his tenure at Bentley Systems in September 2020 as Chief Product Officer, contributing to product innovation and operational excellence. His role expanded when he was promoted to Chief Operating Officer in January 2022, overseeing global business operations.

On July 1, 2024, he assumed the role of Chief Executive Officer, where he has since been leading the company’s strategic vision and growth initiatives. His career spans formative roles at major organizations such as SAP, Scytl, and OpenX, all of which have enriched his perspective and leadership style.

$BSY Performance Under Nicholas H. Cumins

Past Roles

Organization	Role	Date Range	Details
Bentley Systems	Chief Operating Officer	January 1, 2022 - June 30, 2024	Responsible for sales and marketing, products, user success, and business operations globally
Bentley Systems	Chief Product Officer	Started September 2020 – ended upon promotion to CEO (exact end date unspecified)	Defined product strategy and managed product development to advance leadership in infrastructure engineering software
SAP Marketing Cloud	General Manager	2018 - 2020	Managed a comprehensive marketing automation platform
Scytl	Chief Product Officer	2016 - 2018	Oversaw operations for the online voting platform
OpenX	Senior Vice President of Product	2013 - 2016	Pioneered programmatic advertising efforts

Fixed Compensation

Data from FY 2024

Component Name	Amount	Payment Schedule	Additional Details
Base Salary	$730,476	Annual	Adjusted to $825,755 effective July 1, 2024; prior set at $635,196
Non-Equity Incentive Plan Compensation	$732,064	Annual	Fixed compensation for 2024
All Other Compensation	$217,123	Annual	Includes matching contributions ($59,047), allowances ($14,591), travel reimbursement ($15,882), dividends on stock awards ($26,232), and payment of accrued vacation ($101,371)
Time-Vesting RSUs (5-Year Vesting)	200,642 RSUs; $9,999,998	20% vesting annually on December 15 (2025–2029)	Awarded in recognition of promotion to CEO

Performance Compensation

Data from FY 2024

Performance Compensation Details

Metric	Value	Additional Details
Performance Component	Performance-Vesting PSUs	Structured to align executive incentives with company performance
Performance Metric	Company’s Adjusted Operating Income w/ SBC margin	Primary metric for evaluation
Threshold	Must be met for any vesting to occur	No vesting if the metric is below target
Target	27.3%	Required performance level for vesting
Max Vesting Cap	125% of initial award	Limits the total number of PSUs that may vest
Evaluation Period	One-year	Performance period over which results are measured
Grant Details	March 13, 2024: 15,949 PSUs, Fair Value $776,397; June 26, 2024: 2,337 PSUs, Fair Value $116,476	Award dates and values provided for performance-based awards
Vesting Schedule	Cliff vesting; vested at 107.37% in January 2025	Vesting is contingent upon meeting performance thresholds
Additional Details	Payout determined by New Business performance relative to target	Awards vest only when performance conditions are met