Form 4: Bentley Systems' Chief Product Officer Sells Shares Under 10b5-1 Plan
SEC Form 4
Michael M. Campbell, Chief Product Officer of Bentley Systems, sold 897 shares of Class B Common Stock at $50 per share on September 17, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Michael M. Campbell, the Chief Product Officer of Bentley Systems, Incorporated, reported a transaction involving the sale of company stock.
- On September 17, 2024, Campbell sold 897 shares of Class B Common Stock at a price of $50 per share.
- The sale was executed under a Rule 10b5-1 trading plan adopted on March 1, 2024.
- Following the transaction, Campbell directly owns 70,053 shares of Bentley Systems' Class B Common Stock.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the transaction is a routine sale under a pre-arranged trading plan and doesn't necessarily indicate a positive or negative outlook on the company.
Industry Context
Sales by company insiders are a common occurrence and are often scrutinized by investors. The use of a 10b5-1 trading plan allows insiders to sell shares over a predetermined period, mitigating concerns about trading on non-public information.
Stakeholder Impact
- The sale of shares by a company officer could be perceived neutrally or slightly negatively by shareholders, depending on the context and the overall market sentiment.
Key Dates
| Date | Description |
|---|---|
| 2024-03-01 | Date of adoption of Rule 10b5-1 trading plan |
| 2024-09-17 | Date of stock sale transaction |
| 2024-09-19 | Date of Form 4 filing |
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