It is an option exercise (OE), so a little different that a straight up sale. Those usually do expire on a certain date.
The fact that both people exercised on the same day for the same amount leads me to believe that it may have more to do with them vesting and they wanted to cash in with tech stocks going down in flames.
With options there is a lot more leverage and depending on strike price a 1% move could cause you to lose 10% of the value or more depending on the current price vs strike price. Can also work in your favor as well, but I would sure as hell cash out if I had tech stock options in this environment especially with what Q is predicting.