My point is it is possible that he still has Encore as his share of (reward for) the "merger" agreement. He may have exchanged some or all of his SHOM common and pref erred stock, resulting in a change of control to the new majority owner. It may be that he discontinued all ties to SHOM in order to prevent all liability for any other steps to the "merger" that have yet to be announced.
We just cannot know until further announcements come.
I understand that a Form 4 should be filed to announce his insider sale, but perhaps the sale will not be official until a future step in the merger is executed.
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