I would hardly call it a dump. At $8.56/sh, he still has $46m reasons to want this companys share price to increase. Recent sale of shares equates to 4.65% of his holdings. Nothing wrong with trimming to get some cash out when the stock had been taken all the way to $6 when the company reported growing at over 50% rate only to finally run up to $10 all at a time when the S&P is hitting an all time high. He still has well over 5.3m shares which I feel is plenty of exposure to a volatile stock. It is called risk management and I do not blame him one bit as I would probably do the same. I am long the stock but after riding it down to $6, I can see someone saying I am going to lighten my load once it hits $10.
He should be in jail. To dump a 5% before earnings, even under an AS status, is a fk shame. Since july 25, pps slipped a 25% and a 40% since IPO. So. He deserves neither RSUs, nor sales. This guy has no SHAME.