Company where it looks like insiders are paying more outside of exchange

I'm following the company for more than a year and in multiple occasions, company did issue a stock where “big insider” (another company that owns 5-30% of it) buys the stock with price above the stock market price.

So it's like this:

– company A already owner for 4.8% buys the shares for 1.1, the current price 1.05

– company B already owner for 7% buys the shares for 1.05 the exchange price 0.95

I was thinking that perhaps they don't buy on exchange because of the slippage and liquidity.

But this happened several times, so I thought perhaps it's their game – they buy for X, than company gets something in return.

Also, directors were buying this company shares on the exhange on a few occasions.

Any opinions?

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