"my family has invested repeatedly" could be an issue if "having access to material knowledge that the rest of the market doesn't have" was really the reason for his own lack of buying and he shared any of that knowledge. I wish I knew enough to know, or he had explained, what he meant by "due to restrictions related to SEC or other regulations that prohibit certain types of trading activity".
I'd feel better if he had answered in a simpler way that left less room for questions, for instance: "I own enough shares (and options) already". That would have been reasonable and true.