RE: Insider selling is best barometerMy understanding of the management option plan is that is tops up the options to the 10% of total outstanding shares at the time of the AGM. So any options they exercise during the year are replaced. If they do not sell them then they do not get the new options.
So why would anyone hold options that you can make money on when you know that they get replenished ever year. This is especially true when you control the news in the weeks/months leading up the the AGM to keep the option price for upcoming year nice and low.