When I was first alerted to the insiders exercising their options I couldn't find the corresponding sales, there simply wasn't the volume so I thought maybe they held onto the stock but exercising comes with a large future tax liability so not selling could be suicidal.
Then we heard that they crossed out the stock or did a private off market transaction, which is interesting because it means that someone with deep pockets and no doubt an understanding of the Co. was willing to buy around $ 2.8 Million worth of stock.
No one in their right mind would do that unless they are very bullish.