In this biweekly column, we provide an overview of insider trading and corporate investing in Quebec.
Jeffrey Orr rakes in over $4 million
Power Corporation big boss Jeffrey Orr netted nearly $4.4 million in profit this week by exercising options to buy shares in the Montreal conglomerate. Power’s chief financial officer, Gregory Tretiak, has since received more than $350,000, also with options. The company’s stock is up more than 15% year-to-date. Recall that in June, Mr. Orr bought more than $870,000 worth of Power stock.
Louis Vachon buys Bell
Louis Vachon in 2021. Archive Photo: Ben Pelosse
Louis Vachon, a director of BCE (Bell Canada) since October 2022, bought nearly $280,000 worth of shares in the telecom giant this week. The former National Bank CEO now owns it for around $825,000. BCE stock is down more than 15% year-to-date.
Pierre Beaudoin exercises options
Pierre Beaudoin photo from the Bombardier website
Bombardier CEO Pierre Beaudoin cashed nearly $275,000 this week through the exercise of options on the planemaker. Bombardier stock is up more than 60% in the last 52 weeks.
Nice wins at CGI
Photo from the CGI website
CGI’s head of business engineering, Mark Boyajian, made a gain of more than $2.2 million last week by exercising options on the Quebec company. Intellectual Property Solutions leader Dave Henderson, meanwhile, cashed in nearly $720,000 on his options. CGI’s stock is up almost 15% since the beginning of 2023.
A SME sold to Americans
Photo from the MAC Metal website
North Carolina-based Cornerstone Building Brands this week announced it has acquired Longueuil-based MAC Métal Architectural for an undisclosed amount. Established over 30 years ago, MAC designs and manufactures high quality steel siding and roofing products. The SME employs around 100 people. Cornerstone employs more than 20,000 people.
The big boss of TFI collects
Alain Bédard Photo from TFI International website
Alain Bédard, CEO of TFI International, made a profit of nearly $2.9 million this week by exercising options on the trucking company. Year-to-date, Mr. Bédard has raised more than $22 million thanks to TFI options.
The Saputo Foundation buys again
Lino Saputo in 2019. Photo archive Ben Pelosse
Saputo founder Lino Saputo bought nearly $6 million worth of stock in the multinational dairy company this week. The transaction was carried out on behalf of the Mirella & Lino Saputo Foundation. Since 2021, the charity has acquired approximately $136 million worth of Saputo stock.
Paid options at 5N Plus
Richard Perron photo from LinkedIn
5N Plus CFO Richard Perron received $355,000 through the exercise of options from the Montreal company. Mr Perron, a former ArcelorMittal manager, has been with 5N since 2014. Shares of the company, which makes specialty semiconductors and high-performance materials, are up more than 20% since early 2023.