Gusso Lindsay R. 4
4 · DIRTT ENVIRONMENTAL SOLUTIONS LTD · Filed Mar 3, 2021
Insider Transaction Report
Form 4
Gusso Lindsay R.
Chief Human Resources Officer
Transactions
- Award
Restricted Share Units
2021-03-01+36,765→ 36,765 total→ Common Shares (36,765 underlying) - Award
Performance-Based Restricted Share Units
2021-03-01+36,764→ 36,764 total→ Common Shares (36,764 underlying)
Footnotes (2)
- [F1]On March 1, 2021 the reporting person was granted 36,765 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.
- [F2]On March 1, 2021, the reporting person was granted a target number of RSUs equal to 36,764 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.