Geoffrey Krause - Jun 17, 2021 Form 4 Insider Report for DIRTT ENVIRONMENTAL SOLUTIONS LTD (DRTT)

Role: Chief Financial Officer
Signature: /s/ Nandini Somayaji, as attorney-in-fact for Geoffrey Krause
Stock symbol: DRTT
Transactions as of: Jun 17, 2021
Transactions value $: -$121,980
Form type: 4
Date filed: 6/22/2021, 09:52 PM
Next filing: Sep 30, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	DRTT	Common Shares	Options Exercise		+69.8K	+111.18%		133K	Jun 17, 2021	Direct	F1
transaction	DRTT	Common Shares	Tax liability	-$122K	-33.5K	-25.27%	$3.64	99.1K	Jun 17, 2021	Direct	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	DRTT	Restricted Share Units	Options Exercise	$0	-69.8K	-33.33%	$0.00	140K	Jun 17, 2021	Common Shares	69.8K		Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On June 17, 2020, the reporting person was granted 209,444 restricted share units ("RSUs"), vesting in three equal annual installments beginning on the first anniversary of the grant date. Each RSU represents a conditional right to receive a cash payment equal to the fair market value of one share of common stock of the Issuer (a "Common Share") or, at the Issuer's discretion, a number of Common Shares equal to the number of vested RSUs (or a combination of cash and Common Shares). One-third of the RSUs vested on June 17, 2021 and were converted into Common Stock on a one-to-one basis at the Issuer's discretion.
F2	The price used to calculate the tax liability was C$4.49, which was the Fair Market Value of the Issuer's Common Shares on the vesting date, converted from Canadian dollars to U.S. dollars using the Bank of Canada daily average exchange rate on June 17, 2021 of C$1.2341 = US $1.00.

Content

On June 17, 2020, the reporting person was granted 209,444 restricted share units ("RSUs"), vesting in three equal annual installments beginning on the first anniversary of the grant date. Each RSU represents a conditional right to receive a cash payment equal to the fair market value of one share of common stock of the Issuer (a "Common Share") or, at the Issuer's discretion, a number of Common Shares equal to the number of vested RSUs (or a combination of cash and Common Shares). One-third of the RSUs vested on June 17, 2021 and were converted into Common Stock on a one-to-one basis at the Issuer's discretion.

The price used to calculate the tax liability was C$4.49, which was the Fair Market Value of the Issuer's Common Shares on the vesting date, converted from Canadian dollars to U.S. dollars using the Bank of Canada daily average exchange rate on June 17, 2021 of C$1.2341 = US $1.00.