Form 4: Bentley Systems Director Keith A. Bentley Sells Class B Common Stock

Director Keith A. Bentley sold a total of 88,925 shares of Bentley Systems Class B Common Stock on March 7, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Keith A. Bentley, a director of Bentley Systems, sold 87,569 shares of Class B Common Stock at a weighted average price of $49.4722 on March 7, 2024.
• He also sold 1,356 shares of Class B Common Stock at a weighted average price of $50.3005 on the same day.
• These sales were executed under a Rule 10b5-1 trading plan adopted on November 8, 2023.
• Following these transactions, Bentley directly owns 17,164,179 shares of Class B Common Stock.
• He also indirectly owns 100,000 shares through his spouse and 92,654 shares through a 401(k) plan.

Sentiment

Score: 5

Explanation: Neutral sentiment as it's a standard Form 4 filing for pre-planned stock sales.

Industry Context

This filing is a routine disclosure of insider trading activity. It's common for executives to have pre-arranged trading plans to avoid accusations of trading on inside information.

Stakeholder Impact

• The stock sale by a director could have a minor negative impact on shareholder confidence, but the existence of a 10b5-1 plan mitigates this concern.

Key Dates