And we cannot rpetend to understand his personal "liquididty preference"
Still, it is notable that he believed it was a better idea to pay capital gains taxes than to keep the shares.
The one beef that I have with this company is that the stock option and share grant plans for management represent a significant amount of dilution. While I recognize that they are not huge amounts of money in dollars, they are significant percentages of existing shares outstanding. I believe the CEO exercised options on 75,000 shares last year in one shot. Do the math on that dilution.