Today's retail mining shareholder quiz question

First, the background.

1) On Jan 1st 2011 the Executive Chairman of Great Panther Silver (GPR.to) (GPL), Kaare Foy, owned 117,400 shares of GPR along with 75,000 options priced at 70c.

2) On Feb 22nd he exercised those options, leaving him with 192,400 fully paid up shares.

3) Then he did this:

Date filed	operation type	no.of shares traded	price	shares held
24/02/2011	10 - Acquisition or disposition in the public market	-29,300	$3.20	163,100
24/02/2011	10 - Acquisition or disposition in the public market	-45,700	$3.21	117,400
24/02/2011	10 - Acquisition or disposition in the public market	+1,000	$3.22	118,400
23/03/2011	10 - Acquisition or disposition in the public market	-44,200	$4.12	100,000
23/03/2011	10 - Acquisition or disposition in the public market	-5,000	$4.19	95,000
23/03/2011	10 - Acquisition or disposition in the public market	-5,000	$4.19	90,000
23/03/2011	10 - Acquisition or disposition in the public market	-5,000	$4.20	85,000
23/03/2011	10 - Acquisition or disposition in the public market	-15,000	$4.22	70,000
23/03/2011	10 - Acquisition or disposition in the public market	-10,000	$4.23	60,000
23/03/2011	10 - Acquisition or disposition in the public market	-10,000	$4.24	50,000
23/03/2011	10 - Acquisition or disposition in the public market	-10,000	$4.25	40,000
27/03/2011	10 - Acquisition or disposition in the public market	-10,000	$4.23	30,000
27/03/2011	10 - Acquisition or disposition in the public market	-5,000	$4.35	25,000
27/03/2011	10 - Acquisition or disposition in the public market	-10,000	$4.40	15,000
27/03/2011	10 - Acquisition or disposition in the public market	-5,000	$4.42	10,000
27/03/2011	10 - Acquisition or disposition in the public market	-5,000	$4.45	5,000
27/03/2011	10 - Acquisition or disposition in the public market	-5,000	$4.50	0

Yup, in a touch over one month he sold the lot of them (and this is the exec chair we're talking about here, not some IR guy who got lucky and wants to buy his first 4X4 or something) and the dude now owns zero shares of GPR and zero options (according to SEDI at least).

And now, the promised question for all you out there in retail investorlandia:
x

CAN YOU TAKE A HINT?

dyodd, dudettes and dudes.