Competitive Threat: Laser Technology, page-53

The explanation Oleg has given is he needed to buy a house in Sydney.

If that is true, it seems reasonable that other directors would take the opportunity to sell on what was a spike in price at the time, rather than waiting until after Oleg sold and drove down the price. Particularly if they are optimistic about hitting the performance options (ie take profits now to manage risk, with the knowledge that if things do proceed as planned there is still going to be a massive payday when the performance options are realised).

Keep in mind this was well before the "current rally" and a lot has happened since then.

Of course, there can be other explanations and I'm sure all holders would have preferred it if he had not sold. Regardless, they remain incentivised.