Stuart Olson Inc CUUHF

Issue: Are Insiders Selling?

[RetailRube]

I checked to make sure insiders are not bailing out on me.  I pulled the detailed Sedi.com records going back 3 years.  I recall somebody selling 20,000 common shares back in 2017 at around $6.70.  I also wanted to see if insiders held options instead of real shares.  No skin in the game?

I found no current insiders have disposed of any shares in the time period investigated.  I ignored people like Mr Atkinson who left the business prior to June 30 and therefore is no longer an insider and does not need to report his disposals in 3Q/2018.

I found that Officers and Directors according to Sedi own 427,253 common shares.  The CEO is the largest holder with 124,556 common shares.  They definitely feel our pain as the share price has declined $2.00 in 3Q/2018

I also read the Management Information Circular (which gave me a headache).  I discovered that the company has an employment rule that the CEO must own at least 3x his salary in common stock.  The other VPs must own 1.5x their salary in common stock.  Directors are paid partly in Deferred Share Units which they can only cash in when the leave the Board.  Each DSU has the value of the common stock price.  Everybody has lots of skin in the game.  On the other hand, they are well paid compared to what I earned prior to retiring.

Conclusion is the insider picture is a positive.