DIRTT (DRTTF) CEO Urban Nicholas Exercises RSUs, Withholds Shares

What happened

• DIRTT Environmental Solutions CEO Urban Benjamin Nicholas reported the vesting/conversion of 1,600,000 restricted stock units (RSUs) into common shares on August 14, 2026. The filing shows 1,600,000 shares acquired on conversion.
• To cover tax withholding and related settlements, 643,702 shares were surrendered (reported as a tax payment) at $0.52/share for $334,725. The filing also reports derivative/settlement entries of 1,500,000 shares (reported at $0.00) and 100,000 shares at $0.60 ($60,000). Combined reported proceeds/dispositions total about $394,725.

Key details

• Transaction date: August 14, 2026. Form 4 filed August 18, 2026 (within the required reporting window).
• Breakdowns reported in the filing:
  • Acquired: 1,600,000 shares (conversion of vested RSUs).
  • Tax withholding (F): 643,702 shares @ $0.52 = $334,725.
  • Derivative/settlements (M): 1,500,000 shares @ $0.00 (reported $0) and 100,000 shares @ $0.60 = $60,000.
  • Total reported proceeds/dispositions ≈ $394,725.
• Shares owned after the transaction are not specified in the provided filing summary.
• Footnotes: These RSUs were granted Aug 14, 2024 and vested Aug 14, 2026. The per-share valuation used for conversion was C$0.83 (converted to US$ using Bank of Canada rate C$1.3875 = US$1.00), consistent with the ~$0.60 per-share figure noted.

Context

• This was a vesting/conversion of RSUs rather than an open-market purchase or voluntary sale. The withholding of shares to satisfy tax obligations is a routine administrative step and does not by itself indicate a discretionary sale for investment reasons.
• For clarity: "M" indicates an option/derivative conversion event and "F" indicates shares surrendered to pay tax liability. The filing appears procedural and was submitted within the SEC timing rules.