Finally had a chance to look. So he didn't schedule a sale (It's not like he's planning to divest X shares/year for Y years). He just filed notice of intent to sell. Which he had 90 days to do from 3/30. I guess the question is, does it make you feel better if it was March 30 rather than June 4 that he decided to sell 1.26M/53.4M shares? Does it matter that he didn't wait the max days to see if he got approval? Or does it move the needle at all either timeframe?
Lots of reasons for people to sell (at least 10, that we know of). The worst is probably, "I don't think we're getting approval," but do you think he had a solid indication 90 days ago?
The most likely is probably, "I needed the money for something" or "I don't KNOW if I'll ever get this much per share again, so I might as well get something now." Can't blame him either way there, but I don't know that it's predictive. This is, generally, why I pay no attention to insider sales whatsoever but give purchases some consideration. It's just that it's coming ahead of a binary event that makes it hard not to question.