Boulais Wayne 4
4 · DIRTT ENVIRONMENTAL SOLUTIONS LTD · Filed Apr 1, 2020
Insider Transaction Report
Form 4
Boulais Wayne
Director
Transactions
- Award
Deferred Share Unit
2020-03-31$13437.10/sh+12,617$169,535,891→ 25,306 total→ Common Shares (12,617 underlying)
Footnotes (2)
- [F1]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").
- [F2]The price used to calculate the number of DSUs granted was C$1.43, which was the Market Value of the Issuer's Common Shares on the date of grant, converted from Canadian dollars to U.S. dollars using the Bank of Canada daily average exchange rate for the quarter ending March 31, 2020 of C$1.3425 = US $1.00.