Jeffrey Metcalf - 09 May 2022 Form 3 Insider Report for DIRTT ENVIRONMENTAL SOLUTIONS LTD (DRTTF)

Role
Interim Chief Financial Officer See attached for Exhibit 24 - Power of Attorney
Signature
/s/ Nandini Somayaji, as attorney-in-fact for Jeffrey Metcalf
Issuer symbol
DRTTF
Transactions as of
09 May 2022
Net transactions value
$0
Form type
3
Filing time
19 May 2022, 16:46:57 UTC
Next filing
21 Jun 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding DRTTF Common Shares 51,740 09 May 2022 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding DRTTF Stock Option (right to buy) 09 May 2022 Common Shares 23,256 $6.08 Direct F1, F2
holding DRTTF Restricted Share Units 09 May 2022 Common Shares 26,667 Direct F3
holding DRTTF Restricted Share Units 09 May 2022 Common Shares 18,100 Direct F4
holding DRTTF Performance-Based Restricted Share Units 09 May 2022 Common Shares 9,050 Direct F5
holding DRTTF Restricted Share Units 09 May 2022 Common Shares 33,708 Direct F6
holding DRTTF Performance-Based Restricted Share Units 09 May 2022 Common Shares 11,236 Direct F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On May 17, 2019, the reporting person was granted a stock option representing a right to purchase a total of 23,236 common shares of the Issuer ("Common Shares"), vesting in three equal annual installments beginning on first anniversary of the grant date.
F2 The exercise price of the option of CAD$7.84 is converted to USD based on the Bank of Canada exchange rate on May 16, 2022 of C$1.2888= US$1.00.
F3 On June 17, 2020, the reporting person was granted 40,000 restricted share units ("RSUs"), vesting in three equal annual installments beginning on the first anniversary of the grant date. Each RSU represents a conditional right to receive a cash payment equal to the fair market value of one Common Share of the Issuer or, at the Issuer's discretion, a number of Common Shares (or a combination of cash and Common Shares) equal to the fair market value of one Common Share
F4 On March 1, 2021, the reporting person was granted 27,150 RSUs, vesting in three equal annual installments beginning on the first anniversary of the grant date. Each RSU represents a conditional right to receive a cash payment equal to the fair market value of one Common Share of the Issuer or, at the Issuer's discretion, a number of Common Shares (or a combination of cash and Common Shares) equal to the fair market value of one Common Share.
F5 On March 1, 2021, the reporting person was granted a target number of RSUs equal to 9,050 restricted share units (the "Target Number of Restricted Share Units"). The number of RSUs that become vested RSUs will be between 0% and 150% of the Target Number of Restricted Share Units, depending on whether and to what extent certain trading price hurdles are achieved over the three-year performance period, which commenced on the date of grant. Vesting of the RSUs is further contingent upon the reporting person's continued employment through the end of the performance period. Each RSU represents a conditional right to receive a cash payment equal to the fair market value of one Common Share or, at the Issuer's discretion, a number of Common Shares (or a combination of cash and Common Shares) equal to the fair market value of one Common Share.
F6 On March 1, 2022, the reporting person was granted 33,708 RSUs, vesting in three equal annual installments beginning on the first anniversary of the grant date. Each RSU represents a conditional right to receive a cash payment equal to the fair market value of one Common Share of the Issuer or, at the Issuer's discretion, a number of Common Shares (or a combination of cash and Common Shares) equal to the fair market value of one Common Share.
F7 On March 1, 2022, the reporting person was granted a target number of RSUs equal to 11,236 restricted share units (the "Target Number of Restricted Share Units"). The number of RSUs that become vested RSUs will be between 0% and 150% of the Target Number of Restricted Share Units, depending on whether and to what extent certain trading price hurdles are achieved over the three-year performance period, which commenced on the date of grant. Vesting of the RSUs is further contingent upon the reporting person's continued employment through the end of the performance period. Each RSU represents a conditional right to receive a cash payment equal to the fair market value of one Common Share or, at the Issuer's discretion, a number of Common Shares (or a combination of cash and Common Shares) equal to the fair market value of one Common Share.

Remarks:

Interim Chief Financial Officer See attached for Exhibit 24 - Power of Attorney