Some of those shares could be sold without a form 4 yes.. but look at who owns those shares... it will be a long time before any of those shares reach the open market
linda1 - The SEC filing dated October 27, 2016 shows that Dr. Leonard owned 1,261,663,223 common shares before the share retirement which locked up 80% of his common shares into non-tradable preferred shares with restrictive and very shareholder friendly conversion rights. His remaining common shares after the retirement is 252,332,645 (See Exhibit 10.1)
The details of all parties involved in the share retirement program are also described in the above mentioned SEC filing (See Exhibits 10.2 and 10.3)
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