Sec Form 3 Filing - McGinley Christine E. @ DIRTT ENVIRONMENTAL SOLUTIONS LTD - 2019-10-08

Insider filing report for Changes in Beneficial Ownership
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FORM 3
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
McGinley Christine E.
2. Issuer Name and Ticker or Trading Symbol
DIRTT ENVIRONMENTAL SOLUTIONS LTD [ DRTT]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X __ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle)
7303 30TH STREET S.E.
3. Date of Earliest Transaction (MM/DD/YY)
10/08/2019
(Street)
CALGARY, A0T2C 1N6
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Shares 22,888 D
Common Shares 1,895 I By spouse
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Director and Employee Stock Option (right to buy) $ 4.6 ( 2 ) ( 1 ) 08/16/2020 Common Shares 25,000 D
Director and Employee Stock Option (right to buy) $ 4.35 ( 4 ) ( 3 ) 11/20/2021 Common Shares 15,000 D
Deferred Share Units ( 5 ) ( 5 ) ( 5 ) Common Shares 14,975 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
McGinley Christine E.
7303 30TH STREET S.E.
CALGARY, A0T2C 1N6
X
Signatures
/s/ Nandini Somayaji, as attorney-in-fact for Christine McGinley 10/08/2019
Signature of Reporting Person Date
Explanation of Responses:
( 1 )The option, representing a right to purchase a total of 25,000 shares, is fully exercisable as of the date hereof.
( 2 )The exercise price of the option of CAD$6.10 is converted to USD based on the daily average exchange rate as reported by the H.10 statistical release of the Board of Governors of the Federal Reserve System on September 27, 2019 of C$1.3250 = US$1.00.
( 3 )The option, representing a right to purchase a total of 15,000 shares, became exercisable as to 5,000 shares on November 21, 2017 and as to 5,000 shares on November 21, 2018, with the remainder to vest on November 21, 2019, subject to continued service through each vesting date.
( 4 )The exercise price of the option of CAD$5.76 is converted to USD based on the daily average exchange rate as reported by the H.10 statistical release of the Board of Governors of the Federal Reserve System on September 27, 2019 of C$1.3250 = US$1.00.
( 5 )Each deferred share unit is the economic equivalent of one share of the Issuer's Common Shares. Upon the Reporting Person's resignation, death or retirement from the board of directors of the Issuer, the deferred share units will be settled in cash based on a conversion price that is equal to, if the Common Shares are listed on more than one stock exchange, the volume weighted average price of the Common Shares for the five trading days on which the Common Shares were trading, based on the stock exchange with the higher average trading volume over the twenty trading days immediately prior to such date.

Remarks:
See attached for Exhibit 24 - Power of Attorney

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