The chairman of Kofax's remuneration committee, Chris Conway, has bought £62,500 worth of shares in the company less than a month after it missed expectations for the year.
Kofax, which provides capture driven process automation solutions, reported a 12% increase in total revenues to $243.9m (£151m) in the year ended 30 June, just shy of the $244-246m range the company expected.
Conway, who is also a member of the firm's audit and nomination committees, bought 25,000 shares at 250.00p each.
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He now holds 300,000 ordinary shares representing 0.34% of the issued share capital of the company.
He was appointed to the Kofax board in December 2004, is non-executive chairman of two privately-held technology companies, Artificial Solutions and Web Technology Group.
The firm's most recent results showed level of sales, up from $217m the year before, but it represented 10% organic growth on a constant currency basis, well below the firm's initial target of 14%.
The share price fell 1.2% to 288.75p by 14:40.
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