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

Raymond B. Bentley, a director and 10% owner of Bentley Systems Inc., sold a significant number of Class B Common Stock shares under a pre-arranged 10b5-1 trading plan.

Summary

• Raymond B. Bentley, a director and 10% owner of Bentley Systems Inc. (BSY), filed a Form 4 detailing changes in beneficial ownership.
• On August 29, 2024, Bentley sold 120,979 shares of Class B Common Stock at a weighted average price of $51.4759, with prices ranging from $50.89 to $51.86.
• On August 30, 2024, Bentley sold 130,824 shares of Class B Common Stock at a weighted average price of $51.5452, with prices ranging from $51.32 to $51.97.
• These sales were executed under a Rule 10b5-1 trading plan adopted on May 23, 2024.
• Following these transactions, Bentley directly owns 16,689,701 shares of Class B Common Stock and indirectly owns 92,654 shares through a 401(k) plan.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing stock sales by a major shareholder. The use of a 10b5-1 plan suggests the sales were pre-planned and doesn't necessarily indicate a negative outlook on the company.

Industry Context

Sales by major shareholders are common and can be for a variety of reasons, including diversification, tax planning, or personal liquidity needs. The use of a 10b5-1 trading plan suggests the sales were pre-planned and not based on inside information.

Stakeholder Impact

• The stock sales could potentially create downward pressure on the stock price in the short term, impacting shareholders.
• The sales do not appear to have any immediate impact on employees, customers, suppliers, or creditors.

Key Dates