Yes... but how much would he need to hold before he put his independence at risk? The answer to that question depends on his marginal utility of a dollar. In essence, if he has lots of cash lying around, this is a trivial purchase. If he's really constrained financially, then he'll care a lot more about what happens to this investment.
Assuming he's not really constrained (for example, by school fees and a hefty mortgage), the size of the purchase looks odd. Did the directors agree they'd spend some money to show support for the stock, and he didn't agree, so went with a token spend?
In the absence of more information, it's really difficult to know what to make of this purchase.
CFU Price at posting:
12.7¢ Sentiment: Hold Disclosure: Held
