Mark Greffen - Mar 1, 2023 Form 4 Insider Report for DIRTT ENVIRONMENTAL SOLUTIONS LTD (DRTT)

Role: Chief Technology Officer
Signature: /s/ Nandini Somayaji, as attorney-in-fact for Mark Greffen
Stock symbol: DRTT
Transactions as of: Mar 1, 2023
Transactions value $: -$20,038
Form type: 4
Date filed: 3/3/2023, 06:39 PM
Previous filing: Dec 2, 2022
Next filing: May 17, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	DRTT	Common Shares	Options Exercise		+25.5K	+18%		167K	Mar 1, 2023	Direct	F1
transaction	DRTT	Common Shares	Tax liability	-$8.08K	-12.2K	-7.32%	$0.66	155K	Mar 1, 2023	Direct
transaction	DRTT	Common Shares	Options Exercise		+37.8K	+24.39%		193K	Mar 1, 2023	Direct	F2
transaction	DRTT	Common Shares	Tax liability	-$12K	-18.1K	-9.41%	$0.66	174K	Mar 1, 2023	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
transaction	DRTT	Restricted Share Units	Options Exercise	$0	+25.5K	+2549000%	$0.00	25.5K	Mar 1, 2023	Common Shares	25.5K		Direct	F1
transaction	DRTT	Restricted Share Units	Options Exercise	$0	+37.8K	+99.99%	$0.00	75.5K	Mar 1, 2023	Common Shares	37.8K		Direct	F2

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

Explanation of Responses:

Id	Content
F1	On March 1, 2021, the reporting person was granted 76,471 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 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 March 1, 2023 and were converted into Common Stock on a one-to-one basis at the Issuer's discretion.
F2	On March 1, 2022 the reporting person was granted 113,282 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 (or a combination of cash and Common Shares) equal to the fair market value of one Common Share. One-third of the RSUs vested on March 1, 2023 and were converted into Common Stock on a one-to-one basis at the Issuer's discretion.

Content

On March 1, 2021, the reporting person was granted 76,471 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 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 March 1, 2023 and were converted into Common Stock on a one-to-one basis at the Issuer's discretion.

On March 1, 2022 the reporting person was granted 113,282 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 (or a combination of cash and Common Shares) equal to the fair market value of one Common Share. One-third of the RSUs vested on March 1, 2023 and were converted into Common Stock on a one-to-one basis at the Issuer's discretion.