Canada

RFA Financial Inc (RFA)

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RFA Financial Inc. experienced significant insider trading activity recently, characterized by substantial divestments totaling over 27 million CAD. Major shareholders and directors executed large-scale sales on September 18, 2026, following the August earnings report. While smaller acquisitions occurred earlier, the net flow remains heavily weighted toward liquidation by key stakeholders.
Ticker: RFA Exchange: TOR
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• Purchase • Sale • Planned purchase • Planned sale Net purchase Net sale Buy signal Sell signal Earnings
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Insider trades have triggered activity signals for RFA Financial Inc. Upgrade to see score, net flow, insiders and the full signal context.

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Top insiders
Trades
Abbreviations B: Buy, S: Sell, PP: Planned purchase, PlS: Planned sale, PrS: Proposed sale, O: Option / Other
2.6
Sandpiper Asset Management Inc. 10% Security Holder of Issuer Large shareholder
Transaction date
Sale
Price
168.04
Quantity 13,810 +26.8%
Value CA$1,396,548
2.7
Manji, Samir Aziz Director of Issuer, Director or Senior Officer of 10% Security Holder, Senior Officer of Issuer Executive Director
Transaction date
Sale
Price
204.42
Quantity 6,394 -2.9%
Value CA$4,950,722
2.6
Manji, Salim Director or Senior Officer of 10% Security Holder
Transaction date
Sale
Price
295.50
Quantity 39,667 -11.5%
Value CA$2,874,510
2.6
GILL, NAVDEEP KAUR Director or Senior Officer of 10% Security Holder
Transaction date
Sale
Price
26.35
Quantity 1,000 -38.3%
Value CA$100,000
Moss, Jacqueline Crysler Director of Issuer Non-Executive Director
Transaction date
Purchase
Price
26.44
Quantity 1,852 +16.2%
Value CA$48,968
2.4
Churchill-Smith, Peter Andrew Director or Senior Officer of Insider or Subsidiary of Issuer Executive Director
Transaction date
Purchase
Price
26.50
Quantity 1,500 +41.7%
Value CA$39,746
Causarano, Mario Director or Senior Officer of Insider or Subsidiary of Issuer Executive Director
Transaction date
Purchase
Price
28.90
Quantity 4,000
Value CA$115,600
2.7
Manji, Samir Aziz Director of Issuer, Director or Senior Officer of 10% Security Holder, Senior Officer of Issuer Executive Director
Transaction date
Purchase
Price
26.80
Quantity 2,500 +0.2%
Value CA$67,000
2.6
Manji, Salim Director or Senior Officer of 10% Security Holder
Transaction date
Purchase
Price
26.80
Quantity 2,500 +0.2%
Value CA$67,000
2.7
Manji, Samir Aziz Director of Issuer, Director or Senior Officer of 10% Security Holder, Senior Officer of Issuer Executive Director
Transaction date
Purchase
Price
26.93
Quantity 5,700 +0.4%
Value CA$153,510
2.6
Manji, Salim Director or Senior Officer of 10% Security Holder
Transaction date
Purchase
Price
26.93
Quantity 5,700 +0.4%
Value CA$153,510
2.7
Manji, Samir Aziz Director of Issuer, Director or Senior Officer of 10% Security Holder, Senior Officer of Issuer Executive Director
Transaction date
Purchase
Price
26.90
Quantity 7,500 +0.5%
Value CA$201,750
2.6
Manji, Salim Director or Senior Officer of 10% Security Holder
Transaction date
Purchase
Price
26.90
Quantity 7,500 +0.5%
Value CA$201,750
2.7
Manji, Samir Aziz Director of Issuer, Director or Senior Officer of 10% Security Holder, Senior Officer of Issuer Executive Director
Transaction date
Purchase
Price
27.00
Quantity 400 +0.0%
Value CA$10,800
2.6
Manji, Salim Director or Senior Officer of 10% Security Holder
Transaction date
Purchase
Price
27.00
Quantity 400 +0.0%
Value CA$10,800
2.7
Manji, Samir Aziz Director of Issuer, Director or Senior Officer of 10% Security Holder, Senior Officer of Issuer Executive Director
Transaction date
Purchase
Price
26.90
Quantity 500 +0.0%
Value CA$13,450
2.6
Manji, Salim Director or Senior Officer of 10% Security Holder
Transaction date
Purchase
Price
26.90
Quantity 500 +0.0%
Value CA$13,450
2.7
Manji, Samir Aziz Director of Issuer, Director or Senior Officer of 10% Security Holder, Senior Officer of Issuer Executive Director
Transaction date
Purchase
Price
26.96
Quantity 4,200 +0.3%
Value CA$113,230
2.6
Manji, Salim Director or Senior Officer of 10% Security Holder
Transaction date
Purchase
Price
26.96
Quantity 4,200 +0.3%
Value CA$113,230
2.2
Assini, William Joseph Director or Senior Officer of Insider or Subsidiary of Issuer Executive Director
Transaction date
Purchase
Price
25.47
Quantity 3,900
Value CA$99,333
Notification date Transaction date B/S Transaction type Insider and/or position Nb. shares
Price
Value 		Number of shares Price Value Details
2026-09-23 2026-09-18 S Sale
2.6
Sandpiper Asset Management Inc.

10% Security Holder of Issuer

Large shareholder
13,810 +26.8%
168.04
CA$1,396,548 		13,810 +26.8% 168.04 CA$1,396,548
2026-09-23 2026-09-18 S Sale
2.7
Manji, Samir Aziz

Director of Issuer, Director or Senior Officer of 10% Security Holder, Senior Officer of Issuer

Executive Director
6,394 -2.9%
204.42
CA$4,950,722 		6,394 -2.9% 204.42 CA$4,950,722
2026-09-23 2026-09-18 S Sale
2.6
Manji, Salim

Director or Senior Officer of 10% Security Holder
39,667 -11.5%
295.50
CA$2,874,510 		39,667 -11.5% 295.50 CA$2,874,510
2026-09-23 2026-09-18 S Sale
2.6
GILL, NAVDEEP KAUR

Director or Senior Officer of 10% Security Holder
1,000 -38.3%
26.35
CA$100,000 		1,000 -38.3% 26.35 CA$100,000
2026-09-08 2026-09-04 B Purchase
Moss, Jacqueline Crysler

Director of Issuer

Non-Executive Director
1,852 +16.2%
26.44
CA$48,968 		1,852 +16.2% 26.44 CA$48,968
2026-08-21 2026-08-19 B Purchase
2.4
Churchill-Smith, Peter Andrew

Director or Senior Officer of Insider or Subsidiary of Issuer

Executive Director
1,500 +41.7%
26.50
CA$39,746 		1,500 +41.7% 26.50 CA$39,746
2026-07-14 2026-07-13 B Purchase
Causarano, Mario

Director or Senior Officer of Insider or Subsidiary of Issuer

Executive Director
4,000
28.90
CA$115,600 		4,000 28.90 CA$115,600
2026-05-29 2026-05-29 B Purchase
2.7
Manji, Samir Aziz

Director of Issuer, Director or Senior Officer of 10% Security Holder, Senior Officer of Issuer

Executive Director
2,500 +0.2%
26.80
CA$67,000 		2,500 +0.2% 26.80 CA$67,000
2026-05-29 2026-05-29 B Purchase
2.6
Manji, Salim

Director or Senior Officer of 10% Security Holder
2,500 +0.2%
26.80
CA$67,000 		2,500 +0.2% 26.80 CA$67,000
2026-05-29 2026-05-28 B Purchase
2.7
Manji, Samir Aziz

Director of Issuer, Director or Senior Officer of 10% Security Holder, Senior Officer of Issuer

Executive Director
5,700 +0.4%
26.93
CA$153,510 		5,700 +0.4% 26.93 CA$153,510
2026-05-29 2026-05-28 B Purchase
2.6
Manji, Salim

Director or Senior Officer of 10% Security Holder
5,700 +0.4%
26.93
CA$153,510 		5,700 +0.4% 26.93 CA$153,510
2026-05-29 2026-05-27 B Purchase
2.7
Manji, Samir Aziz

Director of Issuer, Director or Senior Officer of 10% Security Holder, Senior Officer of Issuer

Executive Director
7,500 +0.5%
26.90
CA$201,750 		7,500 +0.5% 26.90 CA$201,750
2026-05-29 2026-05-27 B Purchase
2.6
Manji, Salim

Director or Senior Officer of 10% Security Holder
7,500 +0.5%
26.90
CA$201,750 		7,500 +0.5% 26.90 CA$201,750
2026-05-29 2026-05-26 B Purchase
2.7
Manji, Samir Aziz

Director of Issuer, Director or Senior Officer of 10% Security Holder, Senior Officer of Issuer

Executive Director
400 +0.0%
27.00
CA$10,800 		400 +0.0% 27.00 CA$10,800
2026-05-29 2026-05-26 B Purchase
2.6
Manji, Salim

Director or Senior Officer of 10% Security Holder
400 +0.0%
27.00
CA$10,800 		400 +0.0% 27.00 CA$10,800
2026-05-29 2026-05-25 B Purchase
2.7
Manji, Samir Aziz

Director of Issuer, Director or Senior Officer of 10% Security Holder, Senior Officer of Issuer

Executive Director
500 +0.0%
26.90
CA$13,450 		500 +0.0% 26.90 CA$13,450
2026-05-29 2026-05-25 B Purchase
2.6
Manji, Salim

Director or Senior Officer of 10% Security Holder
500 +0.0%
26.90
CA$13,450 		500 +0.0% 26.90 CA$13,450
2026-05-22 2026-05-22 B Purchase
2.7
Manji, Samir Aziz

Director of Issuer, Director or Senior Officer of 10% Security Holder, Senior Officer of Issuer

Executive Director
4,200 +0.3%
26.96
CA$113,230 		4,200 +0.3% 26.96 CA$113,230
2026-05-22 2026-05-22 B Purchase
2.6
Manji, Salim

Director or Senior Officer of 10% Security Holder
4,200 +0.3%
26.96
CA$113,230 		4,200 +0.3% 26.96 CA$113,230
2026-05-26 2026-05-19 B Purchase
2.2
Assini, William Joseph

Director or Senior Officer of Insider or Subsidiary of Issuer

Executive Director
3,900
25.47
CA$99,333 		3,900 25.47 CA$99,333
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