My guess is he is converting those options or a portion of those options and is selling enough to help cover his costs.  

Money in POET's bank account and options exercised are replaced in the option pool and will be available to his replacement.

The silver lining is that POET has signaled that there is more news in the pipeline so with any luck this selling may be over by that time. 

This sucks for sure and I wish they could arrange a cross trade to clear this mess if that is indeed what is happening. It is speculation. 

You will of  course not see  any of  this reflected  in SEDI as he is no longer an required to  file trades.