How do you know it wasn't for some substantial medical bill for a friend or a loved one, or a loan to a relative who might be in legal trouble and can't afford a lawyer? It doesn't have to be for something frivilous, but could actually be utterly life-saving. Such things can rear up unannounced.

It takes little experience of life to imagine numerous situations where such reserves might need to be tapped unexpectedly. And who knows, if the money was a short term loan to a relative in need, he may end up replenishing this block of shares in the open market soon enough.