Just goes to show that there are a myriad of reasons why people sell stock...with taxes being front and center.  His shares, his money, he can do what he wants with it....and nefarious inferences should not be made against a person with such faith in the company and skin in the game - unless someone can prove otherwise.  Yes, it sucks when the stock goes down...but it also creates an oppurtunity to buy shares on the cheap for everybody.  I can also understand the additional frustration of some folks that do not have dry powder to spare to purchase those cheap shares....another reason why people sell shares (sell company X to buy company Y...beause you think company Y has a better chance of return).