Nandini Somayaji - 01 Mar 2023 Form 4 Insider Report for DIRTT ENVIRONMENTAL SOLUTIONS LTD (DRTTF)

Role: General Counsel & Corporate Secretary.
Signature: /s/ Nandini Somayaji
Issuer symbol: DRTTF
Transactions as of: 01 Mar 2023
Net transactions value: -$5,780
Form type: 4
Filing time: 03 Mar 2023, 18:40:53 UTC
Previous filing: 02 Dec 2022
Next filing: 17 May 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	DRTTF	Common Shares	Options Exercise		+4,525	+8.7%		56,270	01 Mar 2023	Direct	F1
transaction	DRTTF	Common Shares	Tax liability	$1,658	-2,512	-4.5%	$0.6600	53,758	01 Mar 2023	Direct
transaction	DRTTF	Common Shares	Options Exercise		+11,236	+21%		64,994	01 Mar 2023	Direct	F2
transaction	DRTTF	Common Shares	Tax liability	$4,122	-6,245	-9.6%	$0.6600	58,749	01 Mar 2023	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
transaction	DRTTF	Restricted Share Units	Options Exercise	$0	+4,525		$0.000000	4,525	01 Mar 2022	Common Shares	4,525		Direct	F1
transaction	DRTTF	Restricted Share Units	Options Exercise	$0	+11,236	+100%	$0.000000	22,472	01 Mar 2022	Common Shares	11,236		Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On March 1, 2021, the reporting person was granted 13,575 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. One-third of the RSUs vested on March 1, 2023 and were converted into Common Stock on a one-to-one basis at the Issuer's discretion.
F2	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. One-third of the RSUs vested on March 1, 2023 and were converted into Common Stock on a one-to-one basis at the Issuer's discretion.

Content

On March 1, 2021, the reporting person was granted 13,575 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. One-third of the RSUs vested on March 1, 2023 and were converted into Common Stock on a one-to-one basis at the Issuer's discretion.

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. One-third of the RSUs vested on March 1, 2023 and were converted into Common Stock on a one-to-one basis at the Issuer's discretion.

Remarks:

General Counsel & Corporate Secretary.