Ann: Resignation of Chief Financial Officer, page-34

"Look at the massive amount of insider selling of late."

Haha, not like I totally disagree with your post. But in a nutshell - Bullsh*t.

Let's look at your table from a different perspective. David Krall has sold 98,000 shares north of $20.00 per share - big deal, he still retains over 400,000 shares of which he'll probably offload another 20% at $30.00.
What about the CEO I hear you ask? According to your table, the CEO has sold +101,000 shares but retains almost 2,000,000 shares. That's like 5% of his holding.

So the question is, is the level of insider selling actually massive?

I can only wish for more negative market sentiment and with a bit of luck - some stupid, idiotic broker downgrades. Seems like Macquaries target has proved to be right in the zone. What I'd give for another shot with a share price in the single figures. But already, AD8 looks very interesting once again.