I just looked at some of the SEC filings from last year. Taken that there have been some settlements by officers, do they have to pay back to the company their legal draws after pleas and settlements? This is typical in D&O policies. I would assume that could be some significant monies
With so few people still holding shares, this is not necessarily an event driven selloff. More likely it is one large shareholder selling out - and perhaps a few others joining in upon seeing the volume.