Not quite. Most executives and board members have standing orders for their own company (usually sell x amount every y days), this way they can’t be accused of doing something illicit.
There is a bit of a grey area with respect to insider trading and cancelling a standing 10b5-1 order and the SEC has recently commented that they’ll be looking at those foregone transactions with more scrutiny in the near future: https://corpgov.law.harvard.edu/2021/06/25/gensler-plans-to-...
