Hi there,
First and foremost, not all insider selling is equal - it is important to distinguish between shares sold on the open market, and those tied to options/warrants/grants. It is quite normal for executives to immediately cash in their options/warrants/grants. In many cases, it is part of their compensation so its not surprising that they see these shares for cash.
Insider sells on the open market which are not attached to options/warrants/grants is the one worth paying attention to. In EDV's case - the sells have been of this nature. Two executives, Pascal Bernasconi, executive vice-president – public affairs, CSR (corporate social responsibility), and security and Patrick Bouisset, executive vice-president of exploration and growth each sold shares on the open market.
Pascal made one trade, while Patrick made a few. Is it concerning? Not in the grand scheme of things. Insiders sell for a variety of reasons, perhaps to make a large purchase, diversify, etc. Likewise, these two insiders (VPs) don't have the same 'impact' as the CEO, CFO, President or Chairman selling shares. If insider selling starts to ramp up, perhaps i'd be slightly concerned but as of now, the few trades being made are nothing to be concerned about.
Usually, when you see 3 or more insiders starting to sell (and includes the likes of the CEO, CFO, President or Chariman) and the volume of insider sells picks up, it may be a bearish sign by management. This is not the case for EDV, but perhaps something worth monitoring.
I should also add - insider selling/buyer is but one indicator - nothing replaces doing your due diligence on a stock.
Mat