Rheinmetall boss Armin Papperger sold a good 10,000 shares worth around 4.9 million euros this week. Last Friday, Claudia Nemat, a long-time member of Deutsche Telekom's board of directors, sold T shares worth a good 2.5 million euros.
Board members are actually more encouraged to buy shares in their companies. Some investors also follow the buying and selling decisions of top executives because they see them as an indication of the companies' future prospects.