why would insiders sell before an aquisition

Reddit

I'm monitoring a stock that recently announced that they were acquired for a specific price. The deal hasn't closed yet, but I just noticed that several insiders sold a sizeable amount of stock at about $1 less than the acquision price. I'm trying to understand why this would happen. If they waited, they'd get $1 more per share at the close of the deal. Are they hedging just in case the deal doesn't go thru and the stock falls? Since they are insiders, does it possibly mean that they know that the deal isn't going to go thru and they are trying to sell while the stock is high? If so, wouldn't that be pretty blatant insider trading? I'm just trying to understand what are the reasons why someone would short themselves.

submitted by /u/tjpoe
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