Pannikode Shalima K. 4
4 · DIRTT ENVIRONMENTAL SOLUTIONS LTD · Filed Jul 2, 2026
Research Summary
AI-generated summary of this filing
DIRTT (DRTTF) Director Pannikode Receives 37,516-Share DSU Award
What Happened
Pannikode Shalima K., a director of DIRTT Environmental Solutions Ltd. (DRTTF), was granted 37,516 deferred share units (DSUs) on June 30, 2026. The grant was recorded at an economic value of US$0.50 per DSU, for a total value of approximately US$18,758. This was an award (compensation), not an open-market purchase or sale.
Key Details
- Transaction date: 2026-06-30 (reported on Form 4 filed 2026-07-02). Filing appears to be within the standard 2-business-day window.
- Grant type/code: A — Award/Grant of derivative securities (DSUs).
- Amount: 37,516 deferred share units. Price used to value grant: US$0.50 per DSU (total ≈ US$18,758).
- Price basis: DSU count was calculated using CA$0.71 (TOR: close on June 29, 2026) converted at Bank of Canada rate C$1.4206 = US$1.00 (footnote).
- Settlement/vesting: Each DSU is the economic equivalent of one common share and will settle following cessation of service. For U.S.-taxed directors, settlement occurs no later than 40 days after termination; settlement may be in shares or cash based on a post-separation pricing formula (see footnote).
- Shares owned after transaction: Not specified in the provided filing.
- No 10b5-1, tax-withholding, or late-filing flags noted in the summary data provided.
Context: DSUs are a form of deferred compensation for directors and are derivative securities that convert to common shares (or cash) only upon separation from service. Such grants are routine director compensation and do not represent an immediate purchase or sale of company stock; they are therefore a different signal than an outright insider buy or sell.
Insider Transaction Report
- Award
Defferred Share Unit
[F1][F2]2026-06-30$0.50/sh+37,516$18,758→ 354,272 total→ Common Shares (37,516 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.