Any shareholder can sell at price that thinks it's good for him. This user had 40k shares from the beggining. It turn out that it's Dave himself. His decision, it can happen at any stock exchange that someone put walls. No one promised you huge gains from share price.
Of course it is not wrong for Dave to sell his shares. In this case though people responsible for the project are telling that they are trying to improve share price and a bit later they will dump a lot of shares under the market price. I think it is not unfair to ask for clarification and their future plans. If a CEO of a company is selling a lot of shares he will also be asked questions.