The thing is, yes I agree, whatever the reason selling 40% is...

The thing is, yes I agree, whatever the reason selling 40% is not a good look, even if he still holds over 10mil shares - which if he was selling for something like "insider knowledge" wouldn't he sell more? But lets agree that if he sold at $2.60 he would be crusified for selling at that price, just like now for selling at a lower price. Point being, is that he would be crusified for selling at any price.

Not a good look, but also, sometimes people sell because of whatever reason. Don't take it as justification though. Just being pragmatic about it.