I don't believe this part is accurate.  Previous to this PP, his shareholdings were from shares he was given on signing up, and then from the exercise of some cheap options a couple of years ago.  The option exercise was the only time he stepped up and put ANY of his personal skin in this game.  Not exactly an overwhelming signal of confidence.

Actually, I follow the insider reports closely, and Elmer participated in at least three of the PP's prior to this latest one.  He has put his personal skin in the game .... perhaps not as much as you, but that is a different story.