Zarate Adrian Raul 4
4 · DIRTT ENVIRONMENTAL SOLUTIONS LTD · Filed Jul 2, 2026
Research Summary
AI-generated summary of this filing
DIRTT (DRTTF) Chief Transformation Officer Receives 35,015-Share Award
What Happened
Adrian (Adrian Raul) Zarate, Chief Transformation Officer and Director of DIRTT Environmental Solutions Ltd. (DRTTF), was granted 35,015 deferred share units (DSUs) on June 30, 2026. The filing values the grant at US$0.50 per DSU (derived from C$0.71), for a total notional value of approximately US$17,508. This was a compensation award (derivative grant), not an open-market purchase or sale.
Key Details
- Transaction date: June 30, 2026; Form 4 filed July 2, 2026.
- Transaction type/code: A — Award/Grant (derivative: DSUs).
- Shares/units granted: 35,015 DSUs.
- Price used in filing: US$0.50 per DSU (based on C$0.71 closing price on TSX, June 29, 2026; conversion using Bank of Canada rate C$1.4206 = US$1.00).
- Total notional value reported: US$17,508 (derivative).
- Shares owned after transaction: Not specified in the filing.
- Footnotes: DSUs are the economic equivalent of one common share and generally settle only after the director’s termination of service. For directors taxed in the U.S., settlement occurs no later than 40 days after termination; settlement may be in common shares or a cash equivalent (calculated per the plan rules).
Context
DSU grants are a form of deferred compensation and do not represent an immediate purchase of shares. They are typically used to align long-term interests of directors/executives with shareholders but do not by themselves indicate immediate bullish or bearish trading by the insider. The award will convert to shares or cash only upon the specified settlement events described in the plan.
Insider Transaction Report
- Award
Deferred Share Unit
[F1][F2]2026-06-30$0.50/sh+35,015$17,508→ 123,919 total→ Common Shares (35,015 underlying)
Footnotes (2)
- [F1]Each deferred share unit ("DSU") was granted pursuant to the DIRTT Environmental Solutions Ltd. Third Amended and Restated Long Term Incentive Plan and is the economic equivalent of one common share (a "Common Share") of DIRTT Environmental Solutions Ltd. (the "Issuer"). All DSUs settle following the cessation of service and employment with the Issuer (the "Termination Date"). For directors who are subject to taxation in the United States ("US Directors"), the DSUs will settle no later than forty days following the Termination Date. Each DSU will be settled in one Common Share or in the cash equivalent of such Common Shares, calculated based on the closing price of the Common Shares on the day prior to the 30th day following separation from service for US Directors.
- [F2]The price used to calculate the number of DSUs granted was C$0.71, which was the closing price Issuer's Common Shares as reported on the Toronto Stock Exchange on June 29, 2026. The price was converted using the Bank of Canada exchange rate for June 29, 2026 of C$1.4206 = US$1.00.