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

Keith A. Bentley, a director and 10% owner of Bentley Systems, sold 17,021 shares of Class B Common Stock at $55 per share on April 23, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On April 23, 2024, Keith A. Bentley, a director and 10% owner of Bentley Systems, sold 17,021 shares of Class B Common Stock.
• The sale was executed at a price of $55 per share.
• The transaction was conducted under a Rule 10b5-1 trading plan adopted on November 8, 2023.
• Following the transaction, Keith A. Bentley directly owns 17,150,752 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-existing trading plan and doesn't necessarily indicate a change in the director's confidence in the company.

Industry Context

Sales by insiders are a common occurrence and are often viewed in the context of pre-planned trading activities, diversification, or personal financial management. The use of a 10b5-1 plan suggests the sale was pre-arranged.

Stakeholder Impact

• The sale of shares by a director could be perceived negatively by some shareholders, although the existence of a 10b5-1 plan mitigates this concern.

Key Dates