Urban Benjamin Nicholas 4

What Happened

• Urban Benjamin Nicholas, CEO of DIRTT Environmental Solutions Ltd. (DRTTF), had 125,000 restricted stock units (RSUs) vest and be converted into common shares on June 8, 2026.
• Of the 125,000 shares issued on vesting, 60,586 shares were withheld to cover tax withholding (reported as a disposition) at $0.52 per share, totaling $31,505. The conversion had no exercise price ($0.00) so the acquisition value of the vested shares was reported as $0.
• Net shares received by the insider after withholding: 64,414 shares. This is a routine compensation-related issuance (award/vesting), not an open-market purchase.

Key Details

• Transaction date: June 8, 2026; Form 4 filed June 10, 2026 (timely).
• Actions reported: M = conversion/exercise of derivative (125,000 RSUs → 125,000 shares, $0.00 exercise price); F = tax withholding/disposition (60,586 shares disposed at $0.52, $31,505).
• Net shares received: 64,414 (125,000 acquired − 60,586 withheld).
• Shares owned after transaction: not disclosed in the provided filing details.
• Footnotes: The 125,000 shares represent one-third of a 375,000 RSU grant made June 7, 2023, which vests in three equal annual installments. The per-share vesting price used was C$0.72 (converted to US$ using the Bank of Canada rate C$1.3947 = US$1.00).

Context

• RSU vesting and tax-withholding are common compensation events and generally do not signal a buy/sell decision by the insider.
• There was no cash exercise price required for these RSUs (cashless conversion into shares); the tax withholding is a routine disposition to satisfy withholding obligations.
• As CEO, the filing is material to monitor, but the transaction reflects compensation vesting rather than an active market trade.