Form 4: Bentley Systems Director Barry J. Bentley Sells 50,000 Shares Under 10b5-1 Plan

Director Barry J. Bentley executed a sale of 50,000 Class B Common Stock shares of Bentley Systems Inc. on October 14, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On October 14, 2024, Barry J. Bentley, a director and 10% owner of Bentley Systems Inc. (BSY), sold 50,000 shares of Class B Common Stock.
• The sales were executed at a weighted average price of $50.9154 per share, with individual transactions ranging from $50.505 to $51.11.
• The transaction was conducted under a Rule 10b5-1 trading plan adopted on June 12, 2024.
• Following the transaction, Bentley directly owns 12,148,235 shares of Class B Common Stock and indirectly owns 92,654 shares through a 401(k) plan.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating a routine stock sale by a company insider under a pre-arranged trading plan. It doesn't inherently convey positive or negative sentiment.

Industry Context

Sales by insiders are a common occurrence, and the use of a 10b5-1 plan suggests the sales were pre-planned and not based on current market information. It is important to monitor insider transactions to gauge management's perspective on the company's valuation and future prospects.

Comparison to Industry Standards

• Insider sales are a normal part of corporate governance.
• The use of a 10b5-1 trading plan is a common practice among corporate insiders to avoid accusations of trading on non-public information.
• Comparing Bentley's insider trading activity to companies like Autodesk (ADSK) or Trimble (TRMB) can provide context, but direct comparisons are difficult without knowing the specific circumstances of each insider's financial situation and trading plans.

Stakeholder Impact

• The sale of shares by a director could be perceived negatively by some shareholders, but the existence of a 10b5-1 plan mitigates concerns about insider trading based on privileged information.

Key Dates