Shaun Noll - Dec 31, 2022 Form 4 Insider Report for DIRTT ENVIRONMENTAL SOLUTIONS LTD (DRTT)

Role
Director
Signature
/s/ Nandini Somayaji, as attorney-in-fact For Shaun Noll
Stock symbol
DRTT
Transactions as of
Dec 31, 2022
Transactions value $
$1,054,690,425
Form type
4
Date filed
1/4/2023, 08:39 PM
Previous filing
Dec 13, 2022
Next filing
Apr 4, 2023

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 $1.05B +47K +74.96% $22,422.57* 110K Dec 31, 2022 Common Shares 47K Direct F1, F2
* 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 $0.5830, which was the Market Value of the Issuer's Common Shares on the date of grant.