Its clear that enough people saw that as a red flag and have...

Its clear that enough people saw that as a red flag and have sold (or are selling).......good luck to them as well as anyone that is taking the opportunity to top up or join the register

Is it a good look to sell over 100k shares particularly when most feel the price is depressed...absolutely no; but it's trading at a PE of 30 so who knows how the market reacts over the next 12 mths. Different people may have done this differently, but if most of your income is coming from 1 source, and then you are also reliant on shares of that company to pay tax, I don't begrudge him being conservative and putting aside some cash now (and note that there are various lockup provisions that will prevent him selling out at diff times).

Having seen the updated strategy (and more transparency) and guidance confirmed just recently, I'm happy to take a 6-12 mth view and ride out the gyrations of the market. It is going to take a while to convince the market that the business is not in a terminal decline.

Again not ideal that mgmt sell (but sometimes they have their reasons...including people getting paid well), and not ideal to see a stock you hold (that you value much higher) fall 6% in a day, but realistically, if you believe that nothing has changed fundamentally with the company, then just calm down and wait for 6-12 mths....if you are looking for a turnaround in the price in a week/month, perhaps best to sell up and go for the meme stocks or crypto