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IMAX CORP·4

Mar 10, 4:20 PM ET

Weissman Kenneth Ian 4

Research Summary

AI-generated summary

Updated

IMAX Deputy GC Kenneth Weissman Exercises RSUs; Shares Withheld

What Happened

  • Kenneth Ian Weissman, Deputy General Counsel, Corporate Secretary & Chief Compliance Officer of IMAX (IMAX), had multiple restricted share units (RSUs) and performance stock units (PSUs) convert to common shares on March 7, 2026. Gross conversions/awards reported: 3,619 + 4,001 + 1,800 (exercises/conversions) plus grants/awards of 6,333 and 3,652 — totaling 19,405 shares credited before withholding.
  • To satisfy tax withholding obligations, IMAX withheld 3,397 shares (disposed) at $40.80 each ($138,598) and 2,284 shares (disposed) at $40.80 each ($93,187), for a total withholding of 5,681 shares and $231,785. These withholdings are reported as “F” transactions (payment of tax liability). This was not an open-market sale but a net share settlement related to vested awards.

Key Details

  • Transaction date: March 7, 2026; Form 4 filed March 10, 2026.
  • Reported prices: acquired shares reported at $0.00 (awards/conversions); withheld shares reported at $40.80 each. Total tax withholding value: $231,785.
  • Shares owned after transactions: 36,205 common shares and 11,253 remaining RSUs (per filing footnote).
  • Relevant footnotes: conversions upon vesting (F1, F3); company withholding to satisfy tax obligations (F2, F4); vesting schedules for various RSU tranches (F7–F10); remaining balances after these transactions (F11).
  • Transaction codes: M = exercise/conversion of derivative (RSU/PSU conversion), A = grant/award, F = payment for tax withholding. These were award conversions with withholding, not open-market buys or discretionary sales.

Context

  • This was effectively a net settlement of vested compensation: RSUs/PSUs converted to common shares and a portion withheld by the company to cover taxes (a common administrative practice). That withholding is functionally a cashless settlement and should not be read as an investment "sale" signal.
  • For retail investors, outright purchases by insiders typically carry more weight as bullish signals. Conversions and company-withheld shares reflect compensation vesting and tax obligations rather than a change in insider conviction.