The company is buying back over 13 million shares, in addition to other purchases in the past. This means the management believes the company is undervalued. However, the buyback also means that Marmaduke and public shareholder percentage of ownership per share is increasing-- Think of the company as a pie. Less pieces of the pie = larger pieces. There are now 13million less pieces. 11,000 shares is a tiny amount that Marmaduke is selling. If he wishes to keep his percentage of ownership from growing too much, this makes sense.