Form 4: DIRTT Environmental Solutions Director Aron English Reports Changes in Beneficial Ownership

Director Aron English reports acquisition of deferred share units and changes in beneficial ownership of DIRTT Environmental Solutions Ltd.

Summary

• On March 29, 2024, Aron English, a director and 10% owner of DIRTT Environmental Solutions Ltd., reported changes in beneficial ownership.
• English acquired 54,854 deferred share units (DSUs) at a price of $0.49 per unit.
• Following the transaction, English beneficially owns 482,169 DSUs.
• The DSUs are part of the company's Amended and Restated Long Term Incentive Plan and are economically equivalent to common shares.
• The DSUs will settle following the cessation of service and employment with the Issuer, either in common shares or the cash equivalent.
• For US Directors, the DSUs will settle no later than forty days following the Termination Date.
• The price used to calculate the number of DSUs granted was C$0.67, which was the closing price Issuer's Common Shares as reported on the Toronto Stock Exchange on March 28, 2024.
• The price was converted using the Bank of Canada exchange rate for March 28, 2024 of C$1.3550 = US$1.00

Sentiment

Score: 6

Explanation: Neutral sentiment as it's a standard regulatory filing detailing changes in ownership. The acquisition of DSUs could be seen as a slightly positive sign, but it's primarily an administrative matter.

Positives

• The acquisition of DSUs by a director signals confidence in the company's future performance.

Future Outlook

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

Industry Context

This filing is a routine disclosure related to executive compensation and ownership changes, common in publicly traded companies.

Stakeholder Impact

• The change in ownership may have a minor impact on shareholders' perception of the company.

Key Dates