Jeffrey Metcalf - May 9, 2022 Form 3 Insider Report for DIRTT ENVIRONMENTAL SOLUTIONS LTD (DRTT)

Role
Interim Chief Financial Officer See attached for Exhibit 24 - Power of Attorney
Signature
/s/ Nandini Somayaji, as attorney-in-fact for Jeffrey Metcalf
Stock symbol
DRTT
Transactions as of
May 9, 2022
Transactions value $
$0
Form type
3
Date filed
5/19/2022, 04:46 PM
Next filing
Jun 21, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding DRTT Common Shares 51.7K May 9, 2022 Direct

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
holding DRTT Stock Option (right to buy) May 9, 2022 Common Shares 23.3K $6.08 Direct F1, F2
holding DRTT Restricted Share Units May 9, 2022 Common Shares 26.7K Direct F3
holding DRTT Restricted Share Units May 9, 2022 Common Shares 18.1K Direct F4
holding DRTT Performance-Based Restricted Share Units May 9, 2022 Common Shares 9.05K Direct F5
holding DRTT Restricted Share Units May 9, 2022 Common Shares 33.7K Direct F6
holding DRTT Performance-Based Restricted Share Units May 9, 2022 Common Shares 11.2K Direct F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On May 17, 2019, the reporting person was granted a stock option representing a right to purchase a total of 23,236 common shares of the Issuer ("Common Shares"), vesting in three equal annual installments beginning on first anniversary of the grant date.
F2 The exercise price of the option of CAD$7.84 is converted to USD based on the Bank of Canada exchange rate on May 16, 2022 of C$1.2888= US$1.00.
F3 On June 17, 2020, the reporting person was granted 40,000 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 Common Share of the Issuer 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
F4 On March 1, 2021, the reporting person was granted 27,150 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 Common Share of the Issuer 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.
F5 On March 1, 2021, the reporting person was granted a target number of RSUs equal to 9,050 restricted share units (the "Target Number of Restricted Share Units"). The number of RSUs that become vested RSUs will be between 0% and 150% of the Target Number of Restricted Share Units, depending on whether and to what extent certain trading price hurdles are achieved over the three-year performance period, which commenced on the date of grant. Vesting of the RSUs is further contingent upon the reporting person's continued employment through the end of the performance period. Each RSU represents a conditional right to receive a cash payment equal to the fair market value of one 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.
F6 On March 1, 2022, the reporting person was granted 33,708 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 Common Share of the Issuer 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.
F7 On March 1, 2022, the reporting person was granted a target number of RSUs equal to 11,236 restricted share units (the "Target Number of Restricted Share Units"). The number of RSUs that become vested RSUs will be between 0% and 150% of the Target Number of Restricted Share Units, depending on whether and to what extent certain trading price hurdles are achieved over the three-year performance period, which commenced on the date of grant. Vesting of the RSUs is further contingent upon the reporting person's continued employment through the end of the performance period. Each RSU represents a conditional right to receive a cash payment equal to the fair market value of one 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.

Remarks:

Interim Chief Financial Officer See attached for Exhibit 24 - Power of Attorney