I too would be thrilled to see management buying 'on market' rather than just holding the requited shares/options via performance-based acquisition; however, I hasten to add that buying 'on market' is not a guarantee but merely offers some the assurance I guess because I've been invested in several companies over the years where management has held in excess of 10% of 'shares on issue' and they have underperformed.
No real science behind it one way or the other, but, yes, always looks good when management is buying; moreover T 20 holders stability can also be a guide to confidence/stability of the major holders...there are several holders on the T 20 list that have joined that list several years ago with the passage and experience of time; the rest of us live in the hope that the Co has articulated over the journey.
