Geoffrey D. Krause - 17 Jun 2022 Form 4 Insider Report for DIRTT ENVIRONMENTAL SOLUTIONS LTD (DRTTF)

Role
Interim Chief Executive Officer
Signature
/s/ Nandini Somayaji, as attorney-in-fact for Geoffrey Krause
Issuer symbol
DRTTF
Transactions as of
17 Jun 2022
Net transactions value
-$31,659
Form type
4
Filing time
21 Jun 2022, 20:43:06 UTC
Previous filing
03 Mar 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DRTT Common Shares Options Exercise +69,815 +46% 221,227 17 Jun 2022 Direct F1
transaction DRTT Common Shares Tax liability $31,659 -33,512 -15% $0.9447 187,715 17 Jun 2022 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 -69,815 -50% $0.000000 69,815 17 Jun 2022 Common Shares 69,815 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, 2022 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$1.2314, 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, 2022 of C$1.3035 = US $1.00.

Remarks:

Interim Chief Executive Officer