Nothing wrong with a Director selling at the top. He has options to buy another 8.6 million shares (no doubt at a much cheaper price).
Check out below example sourced from Smart Investor;
Example 1 – Andrew Bassat, Seek Learning (SEK)Don't read too much into directors selling their shares, especially if they have a significant chunk of wealth tied up in the company and the sale is only a small portion of the overall holding. In February 2013, chief-executive and co-founder of Seek, Andrew Bassat, released this notice to the market, showing that he sold 750,000 shares at $9.90 per share. Given that $9.90 was at the time close to a record all-time high, it seemed like an obvious sell signal.It wasn't. The share price hit $18.25 per share almost a year later. In fact in late 2013 Andrew used options to acquire a further 577,112 shares. In retrospect, the sale was far less significant than the subsequent purchase.
TPW Price at posting:
$11.99 Sentiment: Hold Disclosure: Held
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