By preannouncing a defined share sale at a defined period then the consequences would be immaterial. This is how key individuals of large public companies sell there shares.

 ie. The two CEO's of Rim announced they will sell x percent quarterly over a number of years. It had no impact on the share price as they are not panic selling or being opportunistic.

Bill Gates also sold many of his shares in the same way.

Its wise not to have all your eggs in one basket but as the president of the company with a key decision coming in the next few months that will have an impact either positive or negative on the share price its not what i would call as "good looking"

Regards