Form 4: DIRTT Environmental Solutions Director Pannikode Acquires Deferred Share Units

Director Shalima K. Pannikode reports acquisition of deferred share units in DIRTT Environmental Solutions, equivalent to common shares, following the company's long-term incentive plan.

Summary

• On June 30, 2024, Shalima K. Pannikode, a director of DIRTT Environmental Solutions Ltd., acquired 62,169 deferred share units (DSUs).
• These DSUs are part of the company's Amended and Restated Long Term Incentive Plan.
• Each DSU is economically equivalent to one common share of DIRTT Environmental Solutions Ltd.
• The DSUs will settle following the cessation of service and employment with the Issuer, either in common shares or their 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$0.57, converted to US$0.42 using the Bank of Canada exchange rate on June 28, 2024.
• Following the transaction, Pannikode beneficially owns 77,877 derivative securities.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it reports a standard transaction related to executive compensation. It doesn't indicate any significant positive or negative developments for the company.

Positives

• The acquisition of DSUs by a director signals confidence in the company's long-term prospects.
• The DSUs are part of a long-term incentive plan, aligning the director's interests with those of the shareholders.

Future Outlook

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

Industry Context

This filing is a routine disclosure related to executive compensation and is common in publicly traded companies to align management's interests with shareholders.

Stakeholder Impact

• The acquisition of DSUs by a director can positively influence shareholder sentiment by aligning management's interests with those of the shareholders.

Key Dates