Maybe I don't understand insider trading laws, but they seem somewhat unreasonable to me.

Lets say I'm a software developer, and I accepted stock options as part of my compensation. In the course of my work, I come to realize the company is not long for this world. If I sell my stock, am I guilty of insider trading? I'm obligated to go down with the ship?

I'm interested in answers from any jurisdiction really, this is just a hypothetical question.