4/A: Bentley Systems Executive Corrects Share Sale Reporting Error

Michael M. Campbell, Chief Product Officer of Bentley Systems, files an amended Form 4 to correct an overstatement in the number of Class B Common Stock shares sold on September 10, 2024.

Summary

• Michael M. Campbell, Chief Product Officer of Bentley Systems, filed an amended Form 4 with the SEC.
• The amendment corrects an error in the original filing from September 12, 2024, which overstated the number of Class B Common Stock shares sold on September 10, 2024.
• The error was due to a mistake by the broker executing the sales.
• The corrected filing shows sales of 2,777 shares at a weighted average price of $47.1 and 1,801 shares at a weighted average price of $47.54 on September 10, 2024.
• Following the reported transactions, Campbell beneficially owns 70,950 shares of Class B Common Stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a correction of a previous error, not indicative of positive or negative performance, but the error itself is slightly negative.

Negatives

• The original Form 4 filing contained an error, requiring an amendment.

Risks

• Errors in SEC filings can lead to scrutiny and potential regulatory issues.

Industry Context

Form 4 filings are standard practice for reporting insider transactions and are closely monitored by investors for insights into management's perspective on the company's stock.

Comparison to Industry Standards

• Comparing Campbell's transactions to those of executives at similar software companies like Autodesk (ADSK) or Trimble (TRMB) could provide context.
• For example, if executives at Autodesk or Trimble are also selling shares under 10b5-1 plans, it might suggest a broader trend in the industry.
• However, without specific data on those transactions, it's difficult to draw definitive conclusions.

Stakeholder Impact

• The correction ensures accurate information is available to shareholders and the market.

Key Dates