Um, am new to stockmarket but from my understanding Mr Sage sold...

Um, am new to stockmarket but from my understanding Mr Sage sold out of 400,000 shares for $300,000 to fund, as stated by the OP for another director, the exercising of his options, on which he spent $266,000.

He still holds over 20M shares in the company.

The second director did a similar thing, although he spent 30k of his own money also in doing so. The final director sold out of some shares and converted options into shares, essentially "cashing in" some of the profits of his options while retaining the same number of shares.

Would be preferable for them to have waited for a higher amount? I don't know. The way I see it, the directors needed capital to convert their options into shares as stated by the OP, and one director took a small profit out of it also. No worries IMO.

Correct me if I'm wrong. Hope we have some more nice gains soon everyone :)