Husky, nothing is a given as to why he sold nearly all of his shares at much lower prices. My assumption that it involves an assessment of the value of the company is just that. An assumption. Probably timeline related. Possibly external related. Since it was nearly all of his shares, and I assume he has plenty of money to begin with, I put more emphasis on the timeline related.
Aa you noted it is only one piece of data to consider. When I saw it, I didn’t automatically think or say I should sell also because he knows something I don’t.. but I considered and still do consider the possibility that he knows something that I don’t.
As you point out one could say the same thing about the officers that kept their shares. Zelibor sold for tax reasons probably but retained most of his shares.