Peloton executives and insiders sold nearly $500 million worth of their stock before the stock took a big decline, according to filings with the Securities and Exchange Commission.

As of right now Peloton stock is down more than 80% from its highs last year, and is still declining on its 52-week low of $29.11 on Tuesday. But the companies CEO and other executives sold millions of shares at prices over $100 a share just before its big decline.

The big selling started when the stock started surging past $80 a share in the fall of 2020, and gained momentum in 2021 as the stock held above $100, the filings show.

Due to Covid-19 with gyms being closed Peloton shares soared as sales and subscribers grew. Consumers swept up to the product , looking for ways to get their cardio in without the hassle of a gym membership. To meet the strong demand, Peloton invested lots in its business, trying to ramp up manufacturing and order fulfillment.

John Foley, the company’s CEO and co-founder, sold $119 million worth of stock starting in November 2020, according to SmartInsider. The sales were part of a prearranged 10b5-1 plan to “sell a limited amount of the company’s shares for personal financial management purposes,” according to a SEC filing.

Although it was a predetermined plan that called for selling up to 2.4 million shares through October 2022, However, Foley notified the board that he had terminated the selling plan on Aug. 30, 2021, after selling a total of 1 million shares. He did not give a reason for the termination, but on Nov. 4, 2021, the companies sales forecast tumbled and with that the shares tumbled.

Many top executives also cashed out a portion of their holdings with well-timed sales. William Lynch, the company president, sold more than $105 million in shares last year, with $72 million sold in February at an average price of $144.95.

What a Lucky bastard.