I am going out on a limb all alone probably...maybe Gene just threw up his arms, shouted to the skies and, said to heck with it. Maybe with the fraud trial, the public defender,ect... he didn't care about the 5% rule. After all, what are they going too do? Can't get blood from a turnip.
On the other hand, if he has all the things going for him some here say he does, what is in his head selling shares to someone that exceeds the 5%. Or maybe, he didn't sell that many. Fuel for thought.