Form 4: DIRTT Environmental Solutions Director Shaun Noll Reports Changes in Beneficial Ownership

Director Shaun Noll reports acquisition of deferred share units (DSUs) in DIRTT Environmental Solutions.

Summary

• Shaun Noll, a director of DIRTT Environmental Solutions Ltd., filed a Form 4 indicating changes in beneficial ownership.
• On September 30, 2024, Noll acquired 52,886 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$0.70, converted to US$0.52 using the Bank of Canada exchange rate on September 27, 2024.
• Following the transaction, Noll directly owns 656,364 DSUs.
• 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 filing indicating a director's acquisition of DSUs, which is part of a compensation plan. It doesn't inherently suggest positive or negative implications for the company's performance.

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 (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 standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The acquisition of DSUs by a director can be viewed positively by shareholders as it aligns the director's interests with the company's long-term success.

Key Dates