Scott Ryan - Sep 29, 2023 Form 4 Insider Report for DIRTT ENVIRONMENTAL SOLUTIONS LTD (DRTTF)

Role: Director
Signature: /s/ Fareeha Khan, as attorney-in-fact for Scott Ryan
Stock symbol: DRTTF
Transactions as of: Sep 29, 2023
Transactions value $: $37,906
Form type: 4
Date filed: 10/3/2023, 05:00 PM
Previous filing: Jul 18, 2023
Next filing: Jan 3, 2024

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	DRTTF	Deferred Share Unit	Award	$37.9K	+92.5K	+27.03%	$0.41^*	434K	Sep 29, 2023	Common Shares	92.5K		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 ("DSU") was granted pursuant to the DIRTT Environmental Solutions Ltd. Amended and Restated Long Term Incentive Plan and is the economic equivalent of one common share (a "Common Share") of DIRTT Environmental Solutions Ltd. (the "Issuer"). All DSUs settle following the cessation of service and employment with the Issuer (the "Termination Date"). For directors who are subject to taxation in the United States ("US Directors"), the DSUs will settle no later than forty days following the Termination Date. Each DSU will be settled in one Common Share or in the cash equivalent of such Common Shares, calculated based on the closing price of the Common Shares on the day prior to the 30th day following separation from service for US Directors on the stock exchange which has the greatest trading volume of Common Shares for the previous six months
F2	The price used to calculate the number of DSUs granted was C$0.56, which was the closing price Issuer's Common Shares as reported on the Toronto Stock Exchange on September 29, 2023. The price was converted using the Bank of Canada exchange rate for September 29, 2023 of C$1.3520 = US$1.00

Content

Each deferred share unit ("DSU") was granted pursuant to the DIRTT Environmental Solutions Ltd. Amended and Restated Long Term Incentive Plan and is the economic equivalent of one common share (a "Common Share") of DIRTT Environmental Solutions Ltd. (the "Issuer"). All DSUs settle following the cessation of service and employment with the Issuer (the "Termination Date"). For directors who are subject to taxation in the United States ("US Directors"), the DSUs will settle no later than forty days following the Termination Date. Each DSU will be settled in one Common Share or in the cash equivalent of such Common Shares, calculated based on the closing price of the Common Shares on the day prior to the 30th day following separation from service for US Directors on the stock exchange which has the greatest trading volume of Common Shares for the previous six months

The price used to calculate the number of DSUs granted was C$0.56, which was the closing price Issuer's Common Shares as reported on the Toronto Stock Exchange on September 29, 2023. The price was converted using the Bank of Canada exchange rate for September 29, 2023 of C$1.3520 = US$1.00