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Air Canada planes are pictured at Toronto Pearson International Airport in this file photo.Matthew Sherwood

Featured below are companies that have experienced recent insider trading activity in the public market through their direct and indirect ownerships, including accounts they have control or direction over.

The list features insider transaction activity; it does not convey total ownership information as an insider may hold numerous accounts.

Keep in mind, when looking at transaction activities by insiders, purchasing activity may reflect perceived value in a security. Selling activity may or may not be related to a stock's valuation; perhaps an insider needs to raise money for personal reasons. An insider's total holdings should be considered because a sale may, in context, be insignificant if this person has a large remaining position in the company. I tend to put great weight on insider transaction activity when I see multiple insiders trading a company's shares or units.

Let's begin the report featuring three securities have had recent insider selling activity.

Cascades Inc. (CAS-T)

On March 6, Charles Malo, President and Chief Operating Officer of Cascades Containerboard Packaging, exercised his options and sold the corresponding number of shares (29,996) at a price per share of approximately $14.37. His closing account balance stood at 72,863 shares.

On March 2, Executive Chairman of the Board of Directors Alain Lemaire exercised his options and sold the corresponding number of shares (79,121) at a price per share of $14.05, leaving a remaining portfolio balance of 163,442 shares.

Metro Inc. (MRU-T)

On March 2, Simon Rivet, Vice-President, General Counsel and Corporate Secretary, exercised his options and sold the corresponding number of shares (10,800) at a price per share of $41.0021, leaving 21,690 shares in his portfolio.

That same day, Serge Boulanger, Senior Vice President of National Procurement and Corporate Brands, exercised his options and divested the corresponding number of shares (6,480) at a price per share of $41.0021 with 25,800 shares remaining in his account.

On March 1, Roberto Sbrugnera, Vice-President – Treasury, Risks, and Investor Relations, exercised his options, receiving 3,300 shares. He sold 3,140 shares at $40.70 per share with a remaining portfolio balance of 10,000 shares.

Sun Life Financial Inc. (SLF-T)

On March 7, Carrie Blair, Executive Vice-President, Chief Human Resources and Communications Officer, exercised her options, receiving 16,232 shares, and sold all of these shares at an average price per share just above $54, which eliminated her portfolio's holdings.

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The following stock has had mixed trading with both buying and selling activity reported by insiders.

Air Canada (AC-T)

On March 8, the Chief Financial Officer Michael Rousseau purchased 2,500 shares at a price of $26.50 per share for an account in which he has control or direction over (spouse's).

On March 6, Duncan Bureau, Vice-President of Global Sales, exercised his options and sold the corresponding number of shares (2,000) at a price of $27.01 per share, leaving 816 shares in his account.

On Feb. 28, Ed Doyle, Vice-President of Flight Operations, exercised his options and sold the corresponding number of shares (2,738). In addition, on March 2, he sold 2,063 shares at price per share of $27.1994 with 539 shares left in his portfolio.

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