Yes, still holding. Unless he is hard-up for cash?...the shares being restricted and him being a former officer doesn't allow him to get rid of them in one lump sell, unless it was sign-off by and ok'd by the BOD and registered with the TA
Trading Volume Formula. If you are an affiliate, the number of equity securities you may sell during any three-month period cannot exceed the greater of 1% of the outstanding shares of the same class being sold, or if the class is listed on a stock exchange, the greater of 1% or the average reported weekly trading volume during the four weeks preceding the filing of a notice of sale on Form 144. Over-the-counter stocks, including those quoted on the OTC Bulletin Board and the Pink Sheets, can only be sold using the 1% measurement.
But, cash could be an issue, as the site below never painted a picture with a wind-fall of cash generated from CCI