ok, maybe they could have...but, what if they did and the share price still got pushed around by the market, which in my mind is very likely?
I find this argument very tiring. The company has done what they needed to do to get a product to market, we all agree on that. The company has not paid much attention to share price, as PC himself stated at the EC event, I believe. The fact that an insider (has this been verified yet?) sold some shares is a BoD decision and in their wisdom, with their knowledge, decided it was acceptable.
This is not difficult. You can whine and complain all you want but the company is going to do what they choose to do regardless of your own personal beliefs.
Send them an email and tell them you're not happy and be done with it.