Todd Lillibridge - Mar 31, 2022 Form 4 Insider Report for DIRTT ENVIRONMENTAL SOLUTIONS LTD (DRTT)

Role: Director
Signature: /s/ Nandini Somayaji, as attorney-in-fact for Todd Lillibridge
Stock symbol: DRTT
Transactions as of: Mar 31, 2022
Transactions value $: $45,335,135
Form type: 4
Date filed: 4/4/2022, 04:39 PM
Previous filing: Mar 2, 2022

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	Deferred Share Unit	Award	$45.3M	+5.61K	+7.49%	$8,082.57^*	80.5K	Mar 31, 2022	Common Shares	5.61K		Direct	F1, F2
transaction	DRTT	Restricted Share Units	Award	$0	+30.6K	+20.5%	$0.00	180K	Mar 31, 2022	Common Shares	30.6K		Direct	F1, F3

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

Explanation of Responses:

Id	Content
F1	Each deferred share unit is the economic equivalent of one share of the Issuer's Common Shares. Generally, thirty days following the date that the Reporting Person ceases to serve on the board of directors of the Issuer, the deferred share units will be settled in cash based on the volume weighted average price of the Common Shares for the five immediately preceding days on which the Common Shares were trading on the Toronto Stock Exchange; provided, however that if the Issuer's Common Shares are trading on more than one exchange at such time, such calculation shall be based on the trading price over such five day period on the stock exchange with the higher average trading volume over the twenty trading days immediately prior to such date (such price the "Market Value").
F2	The price used to calculate the number of DSUs granted was $1.441, which was the Market Value of the Issuer's Common Shares on the date of grant.
F3	On March 31, 2022 the reporting person was granted 30,637 restricted share units ("RSUs"), vesting in three equal annual installments beginning on the first anniversary of the grant date, and contingent upon the reporting person's continued service as the Interim President and Chief Executive Officer or, following the appointment of a new President and Chief Executive Officer, continued service as a member of the Board of Directors, through each applicable vesting 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 (or a combination of cash and Common Shares) equal to the fair market value of one Common Share.