Okay, made me look.
The CEO is offering 300,000 shares. The company has been aggressively buying back its own shares over the last 5 years. Thats probably the source for much of the 2M other shares being offered.
In other words, they used to think their own shares were a good deal. Now they dont.
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.