Form 4: DIRTT Environmental Solutions Director Acquires 41,077 Deferred Share Units

Director Shaun Noll of DIRTT Environmental Solutions Ltd. was granted 41,077 deferred share units on December 31, 2024, under the company's long-term incentive plan.

Summary

• Shaun Noll, a director at DIRTT Environmental Solutions Ltd., received 41,077 deferred share units (DSUs) on December 31, 2024.
• These DSUs were granted under the company's Amended and Restated Long Term Incentive Plan.
• Each DSU is equivalent to one common share of DIRTT Environmental Solutions Ltd.
• The DSUs will settle following the cessation of service and employment with the Issuer.
• For US Directors, the DSUs will settle no later than forty days following the Termination Date.
• Settlement will be in either common shares or the cash equivalent, based on the closing price of the common shares on the day prior to the 30th day following separation from service for US Directors.
• The price used to calculate the number of DSUs granted was C$0.96 per share, which was the closing price on the Toronto Stock Exchange on December 30, 2024.
• This price was converted to US$0.67 using the Bank of Canada exchange rate of C$1.4379 = US$1.00 on December 30, 2024.
• Following this transaction, Shaun Noll beneficially owns 697,441 common shares.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed positively as it aligns interests. There are no indications of negative sentiment.

Positives

• The grant of deferred share units aligns the director's interests with those of the shareholders.
• The long-term incentive plan encourages long-term commitment from the director.

Future Outlook

The deferred share units will settle following the cessation of service and employment with the Issuer, either in common shares or cash equivalent.

Industry Context

This is a standard practice for incentivizing directors and aligning their interests with the long-term performance of the company.

Comparison to Industry Standards

• Granting deferred share units to directors is a common practice among publicly traded companies to align their interests with shareholders.
• Many companies in the construction and environmental solutions sector use similar long-term incentive plans to retain and motivate key personnel.
• The specific terms of the DSU grant, such as the vesting period and settlement method, are generally consistent with industry norms.

Stakeholder Impact

• The grant of deferred share units aligns the director's interests with those of the shareholders, potentially leading to better long-term performance.
• The long-term incentive plan encourages long-term commitment from the director, which can benefit the company and its stakeholders.

Key Dates

Keywords

Deferred Share Units, DSU, Director, Share Grant, Long Term Incentive Plan, DIRTT Environmental Solutions, DRTTF, Shaun Noll