On the current roster, the insiders are exercising options and selling currently held shares. The options being exercised are value much lower than the current share price. Are they selling, or rolling out current shares and replacing with the shares from the options they are exercising? If they are exercising the options and holding these shares, then they are on net increasing their positions. Many had sales of roughly 40k shares, but exercised 60k from options. If they selling shares and picking up new ones through the options, those are 20k shares being "added" to their positions.
Such rotation could be for tax and personal income purposes.
Guess the insiders realize that you cannot keep disbusring more than your annual cashflow on capital expenditures AND dividends, filling the gap with more debt and issuance of new stock. This behavior is not sustainable. A textbook short. Thank you EPD.