ASX small cap directors had their cheque books out last week.

Bernard Hockings — director and major shareholder in drug delivery developer Phylogica (ASX:PYC) — sold $7.95 million worth of the stock to incoming chairman Alan Tribe.

The transfer of 285 million shares — or 12.6 per cent of the company — meant Mr Tribe was able to claim a 19.9 per cent shareholding on the day his appointment was announced.

Mr Hockings saw his interest drop to 14.86 per cent.

Locality Planning Energy (ASX: LPE) honchos were also selling off their shareholdings to make space for new investors.

CEO Damien Glanville and COO Ben Chester sold 15 million shares each to fund manager EGP Capital.

They made $300,000 each out of the trade — but together the pair still owns 34 per cent of the business.

There was a considerable amount of retirement planning going on — suggesting these small cap directors believe their companies at least will last the distance.

There were notable moves at Alterra (ASX:1AG) and electricity reseller Ambertech (ASX:AMO). (The latter only updated the market 15 times last year).

Alterra chairman Trevor Stoney bought 3 million shares for $201,000 and dropped his entire 24 million holding, worth $1.6 million, into his super fund.

He will be glad the ban on transferring personal shareholdings into super funds has been put on ice.

Ambertech director Tom Amos swapped $362,000 of shares over to his super fund, so he’s now got 5.5 million in there, while his colleague Edwin Goodwin moved $346,000 worth out of his company and into joint control with a Ms Julia Griffith.

The buys

G Medical Innovations (ASX:GMV) president and CEO Yacov Geva wasn’t the biggest buyer last week, but his company was one of the most contentious.

Mr Geva bought $284,000 of shares on-market, giving him control over 197 million shares or 58 per cent of the business.

G Medical last week took some heat after it paid for a research report that cited prospective sales and production targets — but later said in an ASX announcement that it did not have “reasonable grounds” to support the research report’s statements and advised investors to ignore the information.

It has also been questioned over deals it signed last year which have still not started or delivered on revenue projections.

Primary Gold (ASX:PGO) director Tony Patrizi was one of the biggest spenders last week, paying $400,000 to exercise 10 million options.

Mr Patrizi now owns 27 million shares that under a 5.75c a share takeover offer from Hanking Australia — which went unconditional last week and has the backing of said director — was worth $1.5 million.

In his fifth share purchase since he joined the McPherson’s (ASX:MCP) board in February, Geoff Pearce bought $130,000 of shares on market.

Mr Pearce, who is also on the board of pot stock Cann Group (ASX:CAN), has spent $615,000 on the stock so far. He owns or controls just over 500,000 shares in the company, having come from a standing start of zero in February.

Yufeng Zuang, a director of Chinese zircon miner Diatreme Resources (ASX:DRX), waited until the day before his 1.2c options expired to exercise them. He bought $240,000 of shares last week.

Diatreme shares spiked 150 per cent in January when it signed a Chinese mining services firm to help it advance its Cyclone zircon project in Western Australia.

Bravura (ASX: BVS) director Neil Broekhuizen spent $127,500 on market to buy 50,000 shares, taking his holding to 215,000.

Millennium Services Group (ASX:MIL) director Greg McCormack spent $107,000 on market on 125,000 shares, taking his total haul to 605,000 shares.