Mark Welton - Mar 7, 2023 Form 4 Insider Report for IMAX CORP (IMAX)

Role
President, IMAX Theatres
Signature
/s/ Kenneth I. Weissman (attorney-in-fact for Mark Welton)
Stock symbol
IMAX
Transactions as of
Mar 7, 2023
Transactions value $
-$1,174,818
Form type
4
Date filed
3/9/2023, 04:15 PM
Previous filing
Dec 5, 2022
Next filing
Mar 11, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction IMAX common shares Options Exercise $0 +23.6K +36.73% $0.00 87.8K Mar 7, 2023 Direct F1
transaction IMAX common shares Options Exercise $0 +6.84K +7.79% $0.00 94.7K Mar 7, 2023 Direct F1
transaction IMAX common shares Options Exercise $0 +14.7K +15.57% $0.00 109K Mar 7, 2023 Direct F1
transaction IMAX common shares Options Exercise $0 +12K +10.93% $0.00 121K Mar 7, 2023 Direct F1
transaction IMAX common shares Tax liability -$564K -30.6K -25.2% $18.43 90.8K Mar 7, 2023 Direct F2
transaction IMAX common shares Award $0 +24.8K +27.28% $0.00 116K Mar 7, 2023 Direct F3
transaction IMAX common shares Tax liability -$244K -13.3K -11.48% $18.43 102K Mar 7, 2023 Direct F4
transaction IMAX common shares Sale -$367K -20K -19.56% $18.35 82.3K Mar 7, 2023 Direct
holding IMAX common shares (opening balance) 64.2K Mar 7, 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 -23.6K -100% $0.00* 0 Mar 7, 2023 common shares 23.6K $0.00 Direct F1, F5, F6, F7, F12
transaction IMAX restricted share units Options Exercise $0 -6.84K -100% $0.00* 0 Mar 7, 2023 common shares 6.84K $0.00 Direct F1, F5, F6, F8, F12
transaction IMAX restricted share units Options Exercise $0 -14.7K -50% $0.00 14.7K Mar 7, 2023 common shares 14.7K $0.00 Direct F1, F5, F6, F9, F12
transaction IMAX restricted share units Options Exercise $0 -12K -33.33% $0.00 23.9K Mar 7, 2023 common shares 12K $0.00 Direct F1, F5, F6, F10, F12
transaction IMAX restricted share units Award $0 +38.9K $0.00 38.9K Mar 7, 2023 common shares 38.9K $0.00 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).