SunOpta Board Member Mahes Buys 1,467 Shares, Signaling Confidence in Refresco Deal‑Up 2026

Insider Buying Signals: Mahes Buys 1,467 Shares on Feb. 9

On February 9, 2026, board member Wickramasinghe Mahes acquired 1,467 shares of SunOpta at $6.39 per share—exactly the price the company was trading at that day. The purchase, executed through a board‑service transaction, brings his post‑trade holding to 49,778 shares, a 0.3 % stake of the outstanding equity. While the dollar amount ($9,369) is modest, the timing and context elevate the move: it comes a day after the market‑wide buzz around Refresco’s announced purchase of SunOpta, and it is one of only a handful of large‑volume insider purchases in the company’s recent filing window.

What This Means for Investors

The trade’s significance lies more in its signal than its size. By buying at the same price as the market, Mahes is effectively saying he believes the stock is worth more than the current 6.43‑dollar price. In a period of heightened volatility—weekly gains of nearly 33 % and a bullish 42.98 % monthly change—the purchase suggests confidence that the Refresco deal will add value beyond the current valuation. For shareholders, the move adds credibility to the narrative that the acquisition will unlock synergies and premium upside, potentially nudging the share price toward its 52‑week high of $7.68.

Insider Activity in Context

SunOpta’s other insiders have been equally active. On the same day, seven other officers—including Keating, Reynoso, and Hollis—made sizable purchases, collectively adding roughly 19,000 shares to their portfolios. This cluster of board‑level buying is unusual during a merger announcement, indicating that top executives are aligning their interests with the anticipated upside. Meanwhile, the company’s broader insider trading activity has been relatively flat, with few large sell‑offs, suggesting that current holders are not anticipating immediate dilution or a decline in value.

Profile: Wickramasinghe Mahes

Mahes’s trading history paints a picture of a cautious but opportunistic insider. Since October 2025, he has purchased 79 shares, then 1,521, and then 1,467, steadily increasing his stake. His purchases have typically been at or below the market price, reflecting a disciplined approach that avoids overpaying during price spikes. In 2025, he also acquired 1,822 shares at $3.90 and 1,526 shares at $6.64, indicating a willingness to invest across multiple price points as the company’s valuation fluctuates. Across all transactions, his holdings have grown from 25,113 shares in April to nearly 50,000 shares today, marking a near doubling of his position in less than a year. This pattern suggests a long‑term commitment to SunOpta’s growth trajectory, especially given the company’s strategic pivot toward clean‑label and plant‑based markets.

Looking Ahead

With Refresco’s deal moving toward closure, the stock’s price may experience short‑term volatility as analysts digest the final terms. However, Mahes’s recent purchase, coupled with similar actions by other executives, signals confidence that the transaction will ultimately enhance shareholder value. For investors, the insider activity provides a bullish backdrop: while the current price is solid, the market may still reward SunOpta if the deal proceeds without regulatory hold‑ups. Keeping an eye on the next filing cycle will be key—if insiders maintain or increase their positions, it will further validate the anticipated upside and potentially steer the stock toward its 52‑week high.