If you read that post you will understand why the new CEO is still holding his xx million shares. I'm sure he would have dumped those shares a long time ago if he could of. The free trading shares he did hold were probably dumped into the market while he was still the QASP moderator. In my opinion these shares that cannot be converted will be as soon as possible and then dumped into the market. Then he will resign and move on.
This is just my opinion....
My posts are my personal opinions and views and not a recommendation to buy or sell a stock. Do your own DD