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

Director Keith A. Bentley sold 118,949 shares of Bentley Systems Inc. (BSY) at a weighted average price of $55.0073 on May 7, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• Keith A. Bentley, a director and 10% owner of Bentley Systems Inc. (BSY), sold 118,949 shares of Class B Common Stock on May 7, 2024.
• The sales were executed at a weighted average price of $55.0073 per share, with individual transactions ranging from $55.00 to $55.07.
• The transactions were conducted under a Rule 10b5-1 trading plan adopted on November 8, 2023.
• Following the reported transaction, Keith A. Bentley directly owns 17,031,803 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: The sentiment is neutral as the transaction is a routine sale under a pre-arranged trading plan and doesn't necessarily indicate a negative outlook on the company.

Industry Context

Insider sales are a common occurrence, and the use of a 10b5-1 trading plan suggests the sales were pre-planned and not based on any specific non-public information.

Stakeholder Impact

• The sale could have a minor negative impact on shareholder sentiment, although the use of a 10b5-1 plan mitigates concerns about insider information.

Key Dates