Insider selling commences @ 9:30 am. Coincidence lol. Guess they thought Klassen would give them a nice bump.
Perhaps I am giving you to much credit because I assume you understand that the selling was part of a 10b5-1 trading plan. If Spector was so smart why did he not sell at $64 a few weeks ago? Answer, He couldn't because of blackout periods. His trades are planned in advance without regard to market conditions or stock price. I would bet his future sales are already set on the calendar.
What Is Rule 10b5-1?
Rule 10b5-1, established by the Securities and Exchange Commission (SEC), allows insiders of publicly traded corporations to set up a trading plan for selling stocks they own. Rule 10b5-1 allows major holders to sell a predetermined number of shares at a predetermined time. Many corporate executives use 10b5-1 plans to avoid accusations of insider trading.