GREY:DGCRF - Post by User
Post by
RetailRubeon Jun 20, 2013 10:59pm
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Post# 21552656
Insider Buying
Insider Buying Dibah, you are correct. Mr. Frederic Boivin (Senior Director of Finance and Administration) did make two purchases in the open market recently.
Mr. Boivin bought a total of 1,500 shares the day after the Annual General Meeting in 2013 for a total cost of $490 plus broker fees. According to Sedi, this is now his entire holding of his company's stock.
Mr. Boivin is paid a salary which is higher than I ever made in one year in my entire career before I retired. Yet even I consider a $500 trade to be a nuisance trade. I don't bother with amounts so small. The company I used to work for had a policy that senior officers had to purchase on the open market company shares valued at 3 times their annual salary. Our Canadian CEO who moved to NY told me "It really focusses the mind on the success of the business to have to mortgage your house to buy shares."
The employees, aside from Dr. Fradet, don't seem to have much faith in the future success of the business. Too risky for them.