Mark Welton) - 07 Mar 2023 Form 4 Insider Report for IMAX CORP (IMAX)

Role
President, IMAX Theatres
Signature
/s/ Kenneth I. Weissman (attorney-in-fact for Mark Welton)
Issuer symbol
IMAX
Transactions as of
07 Mar 2023
Net transactions value
-$1,174,818
Form type
4
Filing time
09 Mar 2023, 16:15:07 UTC
Previous filing
05 Dec 2022
Next filing
11 Mar 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction IMAX common shares Options Exercise $0 +23,586 +37% $0.000000 87,809 07 Mar 2023 Direct F1
transaction IMAX common shares Options Exercise $0 +6,841 +7.8% $0.000000 94,650 07 Mar 2023 Direct F1
transaction IMAX common shares Options Exercise $0 +14,733 +16% $0.000000 109,383 07 Mar 2023 Direct F1
transaction IMAX common shares Options Exercise $0 +11,957 +11% $0.000000 121,340 07 Mar 2023 Direct F1
transaction IMAX common shares Tax liability $563,516 -30,576 -25% $18.43 90,764 07 Mar 2023 Direct F2
transaction IMAX common shares Award $0 +24,764 +27% $0.000000 115,528 07 Mar 2023 Direct F3
transaction IMAX common shares Tax liability $244,327 -13,257 -11% $18.43 102,271 07 Mar 2023 Direct F4
transaction IMAX common shares Sale $366,976 -20,000 -20% $18.35 82,271 07 Mar 2023 Direct
holding IMAX common shares (opening balance) 64,223 07 Mar 2023 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction IMAX restricted share units Options Exercise $0 -23,586 -100% $0.000000* 0 07 Mar 2023 common shares 23,586 $0.000000 Direct F1, F5, F6, F7, F12
transaction IMAX restricted share units Options Exercise $0 -6,841 -100% $0.000000* 0 07 Mar 2023 common shares 6,841 $0.000000 Direct F1, F5, F6, F8, F12
transaction IMAX restricted share units Options Exercise $0 -14,733 -50% $0.000000 14,734 07 Mar 2023 common shares 14,733 $0.000000 Direct F1, F5, F6, F9, F12
transaction IMAX restricted share units Options Exercise $0 -11,957 -33% $0.000000 23,916 07 Mar 2023 common shares 11,957 $0.000000 Direct F1, F5, F6, F10, F12
transaction IMAX restricted share units Award $0 +38,873 $0.000000 38,873 07 Mar 2023 common shares 38,873 $0.000000 Direct F5, F6, F11, F12
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the conversion upon vesting of restricted share units into common shares.
F2 Mr. Welton is reporting the withholding of common shares by IMAX Corporation to satisfy the tax withholding obligations in connection with the delivery of common shares upon conversion of the restricted share unit transactions.
F3 Represents the conversion of vested performance stock units into common shares granted by the Company on March 7, 2020. The shares earned are based on the level of achievement on the EBITDA performance conditions over the three year performance period.
F4 Mr. Welton is reporting the withholding of common shares by IMAX Corporation to satisfy the tax withholding obligations in connection with the delivery of common shares upon conversion of the performance share unit transactions.
F5 Each restricted share unit represents a contingent right to receive one common share of IMAX Corporation.
F6 Each restricted share unit is the economic equivalent of one common share of IMAX Corporation.
F7 The restricted share units vest and will be converted to common shares in three installments: 23,584 on each of March 7, 2021 and March 7, 2022 and 23,586 on March 7, 2023.
F8 The restricted share units vest and will be converted to common shares in two installments: 6,840 on March 7, 2022 and 6,841 shares on March 7, 2023.
F9 The restricted share units vest and will be converted to common shares in three installments: 14,733 on each of March 7, 2022 and March 7, 2023 and 14,734 on March 7, 2024.
F10 The restricted share units vest and will be converted to common shares in three installments: 11,957 on each of March 7, 2023 and March 7, 2024 and 11,959 on March 7, 2025.
F11 The restricted share units vest and will be converted to common shares in three installments: 12,957 on each of March 7, 2024 and March 7, 2025 and 12,959 on March 7, 2026.
F12 This represents the number of restricted share units for this transaction only. Mr. Welton's aggregate remaining outstanding option, restricted share unit and common share balances following these transactions will be 109,956 , 77,523 and 82,271, respectively. The number of outstanding options reflects the expiration of options to purchase 21,879 common shares on March 7, 2023. Mr. Welton did not receive any value in connection with such expiration; therefore, such expiration is exempt from Section 16(b) of the Securities Exchange Act of 1934, as amended, under Rule 16b-6(d).