There is surely never a great time for them to sell. I'm quite sure if they'd done it a few weeks ago whilst the SP was lower and stagnating, we'd be below a buck right now. The board would have been apoplectic!!!! For me, their timing is probably the better of the two evils. Doing it whilst the SP is high and volume also. If you have no intention of selling at these levels, then it's just noise. If you are trading then clearly you'll be irritated. But that's the nature of trading a venture stock. Put your big boy pants on if you're going to do it.
In all honestly this board, being the de facto place for PTK insights, is it's worst enemy. The highlighting of the sale of shares by management and subsequent condemnation is a catalyst for fear and uncertainty to any new or old shareholders. The logical result of this is increased selling. The traders must love it.
I know a lot of the recent posts expressing displeasure is genuine, but there are also a lot that are designed to spread that uncertainty and fear. And the same names always seem to be vocal at these times which raises an eyebrow! Management sold a small amount of share, it's no big deal and this'll all pass in the coming days and weeks. There is also a correct way to express that dissatisfaction.