The link has the entire eplanation of sales. The story was too long to post.
Western Refining's Paul Foster sells $13M in shares By Vic Kolenc \ El Paso Times Posted: 04/21/2011 07:00:05 AM MDT
Western Refining chairman and founder Paul Foster has sold almost $13 million worth of shares in the El Paso company this year as part of a personal financial plan he initiated in January to sell more than 3 million of his company shares.
Foster could earn as much as $40 million from other sales of his shares this year if the company's stock remained at Wednesday's price of $18.49 a share.
Six other Western officers and a board member in recent weeks also sold more than $4 million worth of shares. Most of those sales were for the officers to pay income taxes on shares they gained through their employment agreements.
Even after the big stock sell-off, Foster remains Western's largest shareholder.
That he wants to diversify, that he wanted to buy a second or third home somewhere, maybe he wanted to buy a new yacht or an island somewhere.
Also have you noticed or you may not even know this, that when options expire, many times instead of putting up the cash to exercise in the money call options on exercise Saturday, they simply exercise options on Saturday and sell on Monday, and make the spread between the strike and the current stock price, just like any other option when they expire.