Form 4: Shaun Noll Reports Acquisition of Deferred Share Units in DIRTT Environmental Solutions Ltd.
SEC Form 4
Director Shaun Noll reports the acquisition of 75,078 Deferred Share Units (DSUs) in DIRTT Environmental Solutions Ltd.
Summary
- On March 29, 2024, Shaun Noll, a director of DIRTT Environmental Solutions Ltd., acquired 75,078 Deferred Share Units (DSUs).
- These DSUs are granted under the company's Amended and Restated Long Term Incentive Plan.
- Each DSU is equivalent to one common share of DIRTT Environmental Solutions Ltd.
- The DSUs will settle following the cessation of service and employment with the Issuer.
- For US Directors, the DSUs will settle no later than forty days following the Termination Date.
- Settlement will be in either one Common Share or the cash equivalent, based on the closing price of the Common Shares on the day prior to the 30th day following separation from service for US Directors.
- 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.
- Following the transaction, Noll beneficially owns 514,337 derivative securities.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of a transaction related to executive compensation. It doesn't inherently indicate positive or negative sentiment.
Future Outlook
The DSUs will settle following the cessation of service and employment with the Issuer. 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
This filing is a routine disclosure related to executive compensation and holdings, and doesn't necessarily indicate a broader industry trend.
Key Dates
| Date | Description |
|---|---|
| 03/28/2024 | Closing price of Issuer's Common Shares as reported on the Toronto Stock Exchange was C$0.67. |
| 03/28/2024 | Bank of Canada exchange rate was C$1.3550 = US$1.00. |
| 03/29/2024 | Shaun Noll acquired 75,078 Deferred Share Units (DSUs). |
| 04/04/2024 | Date of signature for the Form 4 filing. |
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