I'm sure he knows when announcements are coming; at least key ones. It's tough for a good director to decide when to sell if they need some cash for other things. In this case, I expect he has sold after the silly lows, but before the next highs. I'd rather take the hit now than have him derail a rally on good news, and I think that is the dilemma they face. There's no real good time to sell.
I wouldn't call him silly not to sell after the good news; I think I'd call it responsible.
And I think we can be fairly certain he is not going to sell ahead of known bad news.
I'm sure he knows when announcements are coming; at least key...
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