Mark Welton - Mar 7, 2024 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, 2024
Transactions value $
-$562,128
Form type
4
Date filed
3/11/2024, 04:50 PM
Previous filing
Mar 9, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction IMAX common shares Options Exercise $0 +14.7K +17.91% $0.00 97K Mar 7, 2024 Direct F1
transaction IMAX common shares Options Exercise $0 +12K +12.33% $0.00 109K Mar 7, 2024 Direct F1
transaction IMAX common shares Options Exercise $0 +13K +11.89% $0.00 122K Mar 7, 2024 Direct F1
transaction IMAX common shares Tax liability -$357K -21.2K -17.41% $16.80 101K Mar 7, 2024 Direct F2
transaction IMAX common shares Award $0 +22.9K +22.7% $0.00 124K Mar 7, 2024 Direct F3
transaction IMAX common shares Tax liability -$206K -12.2K -9.9% $16.80 111K Mar 7, 2024 Direct F4
holding IMAX common shares (opening balance) 82.3K Mar 7, 2024 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 -14.7K -100% $0.00* 0 Mar 7, 2024 common shares 14.7K $0.00 Direct F1, F5, F6, F7, F11
transaction IMAX restricted share units Options Exercise $0 -12K -50% $0.00 12K Mar 7, 2024 common shares 12K $0.00 Direct F1, F5, F6, F8, F11
transaction IMAX restricted share units Options Exercise $0 -13K -33.33% $0.00 25.9K Mar 7, 2024 common shares 13K $0.00 Direct F1, F5, F6, F9, F11
transaction IMAX restricted share units Award $0 +43K $0.00 43K Mar 7, 2024 common shares 43K $0.00 Direct F5, F6, F10, F11
* 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, 2021. 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 stock 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: 14,733 on each of March 7, 2022 and March 7, 2023 and 14,734 on March 7, 2024.
F8 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.
F9 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.
F10 The restricted share units vest and will be converted to common shares in three equal installments on each of the first three anniversaries of the grant date.
F11 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 88,936, 80,850 and 111,315, respectively. The number of outstanding options reflects the expiration of options to purchase 21,020 common shares on March 7, 2024. 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).