Form 4: DIRTT Environmental Solutions Director Shaun Noll Acquires Over 60,000 Deferred Share Units

DIRTT Environmental Solutions Ltd. Director and 10% Owner Shaun Noll reported the acquisition of 60,060 Deferred Share Units (DSUs) as part of the company's long-term incentive plan.

Summary

• Shaun Noll, a Director and 10% Owner of DIRTT Environmental Solutions Ltd. (DRTTF), acquired 60,060 Deferred Share Units (DSUs).
• The transaction occurred on June 23, 2025.
• Each DSU is the economic equivalent of one common share of DIRTT Environmental Solutions Ltd.
• The DSUs were granted under the company's Second Amended and Restated Long Term Incentive Plan.
• The price used to calculate the number of DSUs was C$0.80, based on the closing price on the Toronto Stock Exchange on June 20, 2025.
• This price converts to approximately US$0.5828, using an exchange rate of C$1.3728 = US$1.00 on June 20, 2025.
• Following this transaction, Shaun Noll beneficially owns a total of 809,089 DSUs.
• DSUs settle upon the cessation of service and employment with the Issuer, with US Directors' DSUs settling no later than forty days following termination.
• Settlement can be in common shares or the cash equivalent based on the closing price of common shares.

Sentiment

Score: 7

Explanation: The acquisition of Deferred Share Units by a director and 10% owner is generally viewed positively as it aligns management's interests with those of shareholders, indicating confidence in the company's long-term prospects. This is a routine compensation grant.

Positives

• The acquisition of 60,060 Deferred Share Units by a Director and 10% Owner, Shaun Noll, aligns management's interests with those of shareholders.
• The grant is part of a structured Long Term Incentive Plan, indicating a commitment to executive compensation and retention.

Future Outlook

The Deferred Share Units (DSUs) are designed to settle following the cessation of service and employment with the Issuer, with US Directors' DSUs settling no later than forty days after their termination date. Settlement will be in common shares or the cash equivalent.

Management Comments

• The filing indicates that the DSUs were granted pursuant to the DIRTT Environmental Solutions Ltd. Second Amended and Restated Long Term Incentive Plan.

Industry Context

This Form 4 filing details an insider equity grant, which is a routine aspect of corporate compensation and governance. While not directly indicative of broader industry trends, such grants are common across industries to align executive interests with shareholder value.

Corporate Governance

Stakeholder Impact

• Shareholders: Positive impact due to increased alignment of a director's interests with the company's long-term performance.

Next Steps

• DSUs will settle upon Shaun Noll's cessation of service and employment with DIRTT Environmental Solutions Ltd.
• For US Directors, DSUs will settle no later than forty days following the termination date.

Key Dates

Keywords

DIRTT Environmental Solutions, DRTTF, SEC Form 4, Deferred Share Unit, DSU, Insider Transaction, Director Compensation, Equity Grant, Long Term Incentive Plan, Shareholder Alignment