You had it right the first time. You're forgetting the insiders only accounting for 10% of the volume, hence $3 million of the $30 million in volume, not the entire $30 million.
Of course insiders could have sold 20% of the volume or 5%, but you're absolutely right, even if they sold only 1% of it, that's $300k in a 6 month period.
Bottom line, by stringing this out (assuming 50% of the stock price is caused by hopes and dreams), $150 million plus in value has been exchanged over 6 months that wouldn't have been there had they come clean about the deal early on. Pretty big incentive, especially when they can always say, "We never said it was done."
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