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

Raymond B. Bentley, a director and 10% owner of Bentley Systems, sold shares of Class B Common Stock on September 3 and 4, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Raymond B. Bentley, a director and 10% owner of Bentley Systems, sold shares of Class B Common Stock on September 3 and 4, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on May 23, 2024.
• On September 3, 2024, he sold 60,497 shares at an average price of $49.0567, 27,878 shares at an average price of $50.0896, and 2,670 shares at an average price of $51.0403.
• On September 4, 2024, he sold 104,259 shares at an average price of $48.5089.
• Following these transactions, Raymond B. Bentley directly owns 16,494,397 shares of Class B Common Stock and indirectly owns 92,654 shares through a 401(k) plan.

Sentiment

Score: 5

Explanation: The sentiment is neutral as it reports insider selling under a pre-arranged plan, which is a common and legal practice. It doesn't inherently indicate positive or negative prospects for the company.

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 current, non-public information. The market will often scrutinize such sales for any potential implications.

Stakeholder Impact

• The stock sales by a major shareholder could create short-term selling pressure on the stock.
• Shareholders may interpret the sales in various ways, potentially affecting investor confidence.

Key Dates