At age 70, Mr Raby was very recently re-elected as a Director.
There could be all sorts of reasons why he's sold. Provided it wasn't in a blackout period, he's perfectly entitled to do so:
* taking profits given the increase in YAL's SP * meeting taxation obligations * gifts to children or other(s) * new house purchase/renovations * prefer to invest elsewhere (the reason many SH wouldn't like) * divorce (hope not) * superannuation 'top-up'
That list is not exhaustive.
I'm assuming it's a small percentage of his assets.
It would have been better to see this announced prior to the commencement of trading today, not after the Oz and Hong Kong markets had closed.
Generally, preferable to see Directors buying not selling.
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