Form 4: Bentley Systems Director Keith A. Bentley Sells Shares Under 10b5-1 Plan

Director Keith A. Bentley sold 69,573 shares of Bentley Systems Inc. on January 2, 2025, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Keith A. Bentley, a director at Bentley Systems Inc., sold 69,573 shares of Class B Common Stock on January 2, 2025.
• The sales were executed under a Rule 10b5-1 trading plan adopted on September 6, 2024.
• The shares were sold at a weighted average price of $46.6677, with individual transactions ranging from $46.28 to $47.24.
• Following the transaction, Bentley directly owns 16,705,028 shares of Class B Common Stock.
• Bentley also indirectly owns 100,000 shares through a spouse and 92,654 shares through a 401(k) plan.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting a routine stock sale under a pre-arranged trading plan. It doesn't contain any information that would significantly impact investor sentiment positively or negatively.

Industry Context

Sales by insiders are a common occurrence and are often related to personal financial planning. The use of a 10b5-1 plan allows insiders to sell shares at predetermined times and prices, avoiding concerns about trading on non-public information.

Comparison to Industry Standards

• Insider sales are a normal part of corporate governance, especially in publicly traded companies like Bentley Systems.
• Comparable companies such as Autodesk or Trimble also see regular Form 4 filings related to insider transactions.
• The volume of shares sold is relatively small compared to the total outstanding shares, suggesting it's unlikely to have a significant impact on the stock price.

Stakeholder Impact

• The sale of shares by a director could have a minor impact on shareholder confidence, but the existence of a 10b5-1 plan mitigates concerns about insider trading.
• The impact on employees, customers, suppliers, and creditors is expected to be negligible.

Key Dates