I don't think execs are selling. That would be insider trading, and illegal. All insiders (dir and above) must report stock transactions, and they have only a window of one month after an earnings release in which to trade. That is the law.
I can't imagine why any exec would sell such low value stock rather than busting hump to make it worth something in what is essentially a startup company.
Most exec stock, by the way, is common stock. There wasn't much restricted stock involved in the merger. Most companies would have a restriction of 6 months to a year before execs could sell any stock, for the very reason that some are insinuating that they are.
Conspiracy theories are just that - theories, with no basis in fact.
Anyone that thinks this company is manipulating its stock price by illegal trading practices should sell, and leave this board.
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