Let's just say that PC's story is that he is working at a hedge fund in NYC and therefore has to dump his shares. Google doesn't find him anywhere. He has no LinkedIn profile. He is for all intents and purposes a ghost - no history on the internet prior to his involvement at POET. He came in with Inwentash who had a questionable past.

Buy side people are usually quite free to own shares/options. The restrictions are on trading - minimum hold periods, time of day for trades, no conflict in trades with the portfolio being managed (i.e. no trading for 5 days pre/post trades for portfolio), things like that. I have been buy side for more than 25 years and I have seen plenty of these programs. Yes, there are some that say no holding individual shares. But if he really believed in the long term value, it would have to be a big pay packet to get him on board and make up for the opportunity cost.

I think he is just dumping his shares.