In it you state that Mr S has given a "clear signal" that he does not believe in the company. You infer the ship could be sinking....

As noted by...Hartland??? (appologies I don't remember who posted it)....when compensation is in the form of income paid in shares, then its taxed fully at the individual's marginal rate. Could this have been the case with Mr. S's selling? I don't know, and nobody here does....so there are no "clear signals".