0000899243-22-013350.txt : 20220404 0000899243-22-013350.hdr.sgml : 20220404 20220404163910 ACCESSION NUMBER: 0000899243-22-013350 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20220331 FILED AS OF DATE: 20220404 DATE AS OF CHANGE: 20220404 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Lillibridge Todd W. CENTRAL INDEX KEY: 0001494933 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-39061 FILM NUMBER: 22802954 MAIL ADDRESS: STREET 1: 353 N. CLARK STREET STREET 2: SUITE 3300 CITY: CHICAGO STATE: IL ZIP: 60654 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 2022-03-31 0 0001340476 DIRTT ENVIRONMENTAL SOLUTIONS LTD DRTT 0001494933 Lillibridge Todd W. 7303-30TH STREET SE CALGARY A0 T2C 1N6 ALBERTA, CANADA 1 0 0 0 Deferred Share Unit 2022-03-31 4 A 0 5609 8082.57 A Common Shares 5609 80508 D Restricted Share Units 2022-03-31 4 A 0 30637 0.00 A Common Shares 30637 180113 D Each deferred share unit is the economic equivalent of one share of the Issuer's Common Shares. Generally, thirty days following the date that the Reporting Person ceases to serve on the board of directors of the Issuer, the deferred share units will be settled in cash based on the volume weighted average price of the Common Shares for the five immediately preceding days on which the Common Shares were trading on the Toronto Stock Exchange; provided, however that if the Issuer's Common Shares are trading on more than one exchange at such time, such calculation shall be based on the trading price over such five day period on the stock exchange with the higher average trading volume over the twenty trading days immediately prior to such date (such price the "Market Value"). The price used to calculate the number of DSUs granted was $1.441, which was the Market Value of the Issuer's Common Shares on the date of grant. On March 31, 2022 the reporting person was granted 30,637 restricted share units ("RSUs"), vesting in three equal annual installments beginning on the first anniversary of the grant date, and contingent upon the reporting person's continued service as the Interim President and Chief Executive Officer or, following the appointment of a new President and Chief Executive Officer, continued service as a member of the Board of Directors, through each applicable vesting 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. /s/ Nandini Somayaji, as attorney-in-fact for Todd Lillibridge 2022-04-04