Perhaps they have been listening to guys like me who scream "diversify or die"? Not me personally, but they all have financial advisors and financial advisors are always after clients to not have all their eggs in one basket.
If you are implying that insider sales are by definition bearish, you are wrong. Insiders dare not sell in front of bad news.
Here in West Texas, at the extension school, they teach us that the way to keep a fortune is to diversify. They also teach that the way to make a fortune is to concentrate.
Now, why on earth would these Board members sell if they were confifent in COO's business plan and could sell later for, say $20 per share more? Why?
The world wants to know. Perhaps they already have to much money and don't want more?
Why, Pharto, why?