0000899243-22-008908.txt : 20220303
0000899243-22-008908.hdr.sgml : 20220303
20220303104446
ACCESSION NUMBER: 0000899243-22-008908
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20220301
FILED AS OF DATE: 20220303
DATE AS OF CHANGE: 20220303
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Greffen Mark
CENTRAL INDEX KEY: 0001788915
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-39061
FILM NUMBER: 22707091
MAIL ADDRESS:
STREET 1: 7303 30 ST. S.E.
CITY: CALGARY
STATE: A0
ZIP: T2C 1N6
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: DIRTT ENVIRONMENTAL SOLUTIONS LTD
CENTRAL INDEX KEY: 0001340476
STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372]
IRS NUMBER: 000000000
STATE OF INCORPORATION: A0
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 7303 30 ST S E
CITY: CALGARY ALBERTA T2C 1N6 CAN
STATE: A0
ZIP: T2C 1N6
BUSINESS PHONE: 403-723-5000
MAIL ADDRESS:
STREET 1: 7303 30 ST S E
CITY: CALGARY ALBERTA T2C 1N6 CAN
STATE: A0
ZIP: T2C 1N6
4
1
doc4.xml
FORM 4 SUBMISSION
X0306
4
2022-03-01
0
0001340476
DIRTT ENVIRONMENTAL SOLUTIONS LTD
DRTT
0001788915
Greffen Mark
7303-30TH STREET SE
CALGARY
A0
T2C 1N6
ALBERTA, CANADA
0
1
0
0
Chief Technology Officer
Common Shares
2022-03-01
4
M
0
25490
A
102268
D
Common Shares
2022-03-01
4
F
0
12236
1.88
D
90032
D
Common Shares
2022-03-01
4
A
0
19016
0.00
A
109048
D
Common Shares
2022-03-01
4
F
0
9128
1.88
D
99920
D
Restricted Share Units
2022-03-01
4
M
0
25490
0.00
A
Common Shares
25490
50981
D
Restricted Share Units
2022-03-01
4
A
0
113282
0.00
A
Common Shares
113282
113282
D
Performance-Based Restricted Share Units
2022-03-01
4
A
0
113281
0.00
A
Common Shares
113281
113281
D
On March 1, 2021, the reporting person was granted 76,471 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 Common Share or, at the Issuer's discretion, a number of Common Shares equal to the number of vested RSUs (or a combination of cash and Common Shares). One-third of the RSUs vested on March 1, 2022 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 19,016 share awards ("Share Awards"), and 9,128 shares were withheld to pay income taxes. Each Share Award represents an unrestricted Common Share of the Issuer.
On March 1, 2022 the reporting person was granted 113,282 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 share of common stock of the Issuer (a "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.
On March 1, 2022, the reporting person was granted a target number of RSUs equal to 113,281 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.
/s/ Nandini Somayaji, as attorney-in-fact for Mark Greffen
2022-03-03