Janine North - Jun 1, 2023 Form 4 Insider Report for MERCER INTERNATIONAL INC. (MERC)

Role: Director
Signature: /s/ Janine North
Stock symbol: MERC
Transactions as of: Jun 1, 2023
Transactions value $: $0
Form type: 4
Date filed: 6/2/2023, 07:22 PM
Previous filing: May 2, 2023
Next filing: Jun 4, 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	MERC	Cash Settled Deferred Stock Units	Award		+1.93K	+74.9%		4.5K	Jun 1, 2023	Common Stock	1.93K		Direct	F1
transaction	MERC	Cash Settled Deferred Stock Units	Award		+11.5K	+256.91%		16K	Jun 1, 2023	Common Stock	11.5K		Direct	F2

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

Explanation of Responses:

Id	Content
F1	Represents cash settled deferred stock units ("DSUs") issued by Mercer International Inc. ("Mercer"), at the election of the Reporting Person as a quarterly equity grant to the Reporting Person, under Mercer's non-employee director compensation program as amended (the "Plan") in respect of the period from April 1, 2023 to May 31, 2023, which vest on the one-year anniversary of the grant date. Each DSU represents the right to receive a cash payment equal to the fair market value of one share of Mercer's common stock on the redemption date(s) and dividend equivalents after the Reporting Person ceases to be a director of Mercer, unless deferred in accordance with its terms. Mercer subsequently transitioned its non-employee director compensation program from quarterly on a calendar year basis to a program based on the one-year period between annual general meetings, being the general term of office of directors.
F2	Represents DSUs issued by Mercer, at the election of the Reporting Person, as a grant under Mercer's non-employee director compensation program in respect of the board term commencing May 31, 2023 and ending at its next regularly scheduled annual general meeting in 2024. Each DSU represents the right to receive a cash payment equal to the fair market value of one share of Mercer's common stock on the redemption date(s) and dividend equivalents after the Reporting Person ceases to be a director of Mercer, unless deferred in accordance with its terms. The DSUs vest upon the earlier of the one year anniversary of the grant date or the date of the next regularly scheduled annual general meeting.

Content

Represents cash settled deferred stock units ("DSUs") issued by Mercer International Inc. ("Mercer"), at the election of the Reporting Person as a quarterly equity grant to the Reporting Person, under Mercer's non-employee director compensation program as amended (the "Plan") in respect of the period from April 1, 2023 to May 31, 2023, which vest on the one-year anniversary of the grant date. Each DSU represents the right to receive a cash payment equal to the fair market value of one share of Mercer's common stock on the redemption date(s) and dividend equivalents after the Reporting Person ceases to be a director of Mercer, unless deferred in accordance with its terms. Mercer subsequently transitioned its non-employee director compensation program from quarterly on a calendar year basis to a program based on the one-year period between annual general meetings, being the general term of office of directors.

Represents DSUs issued by Mercer, at the election of the Reporting Person, as a grant under Mercer's non-employee director compensation program in respect of the board term commencing May 31, 2023 and ending at its next regularly scheduled annual general meeting in 2024. Each DSU represents the right to receive a cash payment equal to the fair market value of one share of Mercer's common stock on the redemption date(s) and dividend equivalents after the Reporting Person ceases to be a director of Mercer, unless deferred in accordance with its terms. The DSUs vest upon the earlier of the one year anniversary of the grant date or the date of the next regularly scheduled annual general meeting.