Sorry for all the posts, but my small mind is very analytical (and you can call me a conspiracy theorist if you like (just not when come to COVID))...

Even if they are only exercising their options, and even if they are allowed to do so at the moment, the question is "why now?". Think about it...

To exercise their options, they have to fork over funds to cover the exercise price. Why would they ALL do that now, unless they think the sale will be completed very soon, or unless they think they're going to need the votes that come with those shares soon. Why spend the money now?

The whole point of options is that the owner gets to reap the rewards of share price growth without having to buy the shares today. Nobody in their right mind would exercise options just to hold the shares for some indefinite period.

I'll grant you that recent actions by the BOD suggest they may not be in their right minds, but still, somethings going on that we don't know about.

Hobbit.