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

Director Keith A. Bentley sold shares of Bentley Systems Inc. (BSY) on March 5th and 6th, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Keith A. Bentley, a director at Bentley Systems Inc., sold Class B Common Stock on March 5 and March 6, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on November 8, 2023.
• On March 5, 2024, he sold 57,025 shares at an average price of $48.2339, 43,390 shares at an average price of $49.3256, and 4,605 shares at an average price of $50.2662.
• On March 6, 2024, he sold 80,572 shares at an average price of $49.6237 and 119,865 shares at an average price of $49.9858.
• Following these transactions, Mr. Bentley directly owns 17,253,104 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 filing simply reports the sale of shares under a pre-existing trading plan. It doesn't inherently indicate positive or negative sentiment about the company's future prospects.

Industry Context

Insider sales are a common occurrence, and the use of a 10b5-1 plan suggests the sales were pre-planned and not based on any specific inside information. The market will likely interpret this as a routine transaction.

Stakeholder Impact

• The share sales could have a minor negative impact on shareholder sentiment in the short term, but the existence of a 10b5-1 plan mitigates this concern.

Key Dates