The company recently announced a new board member, a woman, and today the insider trading website disclosed that she owns a whopping 300 shares. Of the 4 women, almost half of the total board members, only one has experience in petroleum industry.
Looks like the CEO is a strong advocate of DEI stuff. Or is he trying to please Justin Trudeau!?
Many investors believe that directors, men or women, must have skin in the game. That is a large number of shares purchased in the open market.
There are too many directors anyway and next thing you see various incentives including free shares rewarded for the privilege and "hard work" attending a few board meetings. All diluting current shareholders.