Form 4: Bentley Systems Executive Chair Gregory Bentley Sells Shares Under 10b5-1 Trading Plan

Gregory S. Bentley, Executive Chair & President of Bentley Systems, sold 53,968 shares of Class B Common Stock at an average price of $41.0392 on March 12, 2025, under a pre-arranged 10b5-1 trading plan.

Summary

• On March 12, 2025, Gregory S. Bentley, the Executive Chair & President of Bentley Systems, sold 53,968 shares of Class B Common Stock.
• The sales were executed at a weighted average price of $41.0392 per share, with individual transactions ranging from $40.70 to $41.695.
• These transactions were conducted under a Rule 10b5-1 trading plan adopted on December 10, 2024.
• Following the reported transactions, Mr. Bentley directly owns 7,754,229 shares of Class B Common Stock.
• Additionally, he indirectly owns 137,512 shares through his spouse and 92,654 shares through a 401(k) plan.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The filing simply reports a stock sale under a pre-arranged trading plan, which is a routine event. There's no indication of positive or negative sentiment towards the company's prospects.

Industry Context

Sales by insiders are a common occurrence, especially when executed under pre-arranged trading plans like Rule 10b5-1. These plans allow insiders to sell shares over a period of time without being accused of trading on non-public information. The market typically views these sales in the context of the overall trading plan and the insider's remaining holdings.

Comparison to Industry Standards

• Comparing Gregory Bentley's transactions to other executives in similar software companies, the sale is within a normal range for executives utilizing 10b5-1 plans.
• For example, executives at Autodesk and Trimble, which are comparable companies in the design and engineering software space, also routinely use 10b5-1 plans to manage their stock holdings.
• The size of the transaction (53,968 shares) is not unusually large compared to the overall holdings of Gregory Bentley (7,754,229 shares directly held after the transaction), suggesting it is part of a planned diversification strategy rather than a reaction to negative company news.

Stakeholder Impact

• The sale of shares by a major insider could create short-term uncertainty among shareholders, although the existence of a 10b5-1 plan mitigates this concern.
• The impact on employees, customers, suppliers, and creditors is likely to be minimal, as the transaction does not directly affect the company's operations or financial stability.

Key Dates