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

Director Kenneth D. Sanders acquired 74,801 Deferred Share Units (DSUs) of DIRTT Environmental Solutions Ltd. on March 29, 2024, according to a Form 4 filing.

Summary

• On March 29, 2024, Kenneth D. Sanders, a director of DIRTT Environmental Solutions Ltd., acquired 74,801 Deferred Share Units (DSUs).
• These DSUs are the economic equivalent of common shares of DIRTT Environmental Solutions Ltd.
• The price used to calculate the number of DSUs granted was C$0.67, the closing price of DIRTT's common shares on the Toronto Stock Exchange on March 28, 2024.
• This price was converted to US dollars using the Bank of Canada exchange rate of C$1.3550 = US$1.00.
• Sanders directly owns 652,493 common shares.
• The DSUs will settle following the cessation of service and employment with the Issuer (the 'Termination Date').
• For 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.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine disclosure of a director acquiring DSUs, which can be seen as a slightly positive sign of confidence, but it's not a major event.

Positives

• A director's acquisition of DSUs could be interpreted as a sign of confidence in the company's future prospects.

Future Outlook

The DSUs will settle following the cessation of service and employment with the Issuer (the 'Termination Date'). For 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.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency regarding the transactions of company insiders. This filing indicates a director's acquisition of DSUs, which is a form of equity compensation.

Stakeholder Impact

• The acquisition of DSUs by a director could have a slightly positive impact on shareholder sentiment.

Key Dates