WELTON MARK 4
4 · IMAX CORP · Filed Mar 10, 2026
Research Summary
AI-generated summary of this filing
IMAX President Mark Welton Exercises RSUs and Sells Shares
What Happened
- Mark Welton, President — IMAX Global Theatres, had multiple restricted share units (RSUs) and performance stock units (PSUs) vest/convert on March 7, 2026. The conversions resulted in the issuance of a total of 116,226 common shares (from several RSU/PSU vestings and conversions). IMAX withheld 51,720 of those shares to satisfy tax withholding obligations, at $40.80 per share, generating cash withheld of $807,065 and $1,303,111 (total ~$2,110,176). After withholding, the net increase in shares delivered to Mr. Welton was the remainder of the vested shares.
- Transaction types reported: M (exercise/conversion of derivatives — RSUs/PSUs), A (awards/grants converted), and F (payment/tax withholding). Many entries show $0 acquisition price because these were vested awards converting to common shares rather than purchases.
Key Details
- Transaction date: March 7, 2026; Form 4 filed March 10, 2026 (timely filing).
- Withheld/disposed shares for tax: 19,781 shares ($807,065) and 31,939 shares ($1,303,111) — total 51,720 shares withheld, ~$2.11M.
- Vested/converted shares reported acquired: 116,226 shares across multiple RSU/PSU conversions and awards (various grant tranches).
- Holdings after transactions (per filing): 173,216 common shares and 53,272 remaining restricted share units.
- Notable footnotes: conversions include vested PSUs tied to EBITDA and TSR performance (granted Mar 7, 2023); multiple RSU vesting schedules across 2024–2029; IMAX withheld shares to meet tax obligations (cashless/withholding settlement).
- Transaction codes: M = option/derivative conversion, A = award/grant, F = tax withholding (not an open-market sale).
Context
- These were vesting/conversion and tax-withholding events — common, administrative insider transactions — not open-market sales or purchases indicating discretionary trading. The $0 acquisition price reflects award conversion (not a cash purchase). The withholding of shares to satisfy taxes is a routine settlement method and should not be read as a voluntary sell decision.
Insider Transaction Report
Form 4
IMAX CORPIMAX
WELTON MARK
President IMAX Global Theatres
Transactions
- Exercise/Conversion
common shares
[F1]2026-03-07+12,959→ 141,282 total - Exercise/Conversion
common shares
[F1]2026-03-07+14,325→ 155,607 total - Exercise/Conversion
common shares
[F1]2026-03-07+9,666→ 165,273 total - Tax Payment
common shares
[F2]2026-03-07$40.80/sh−19,781$807,065→ 145,492 total - Award
common shares
[F3]2026-03-07+40,817→ 186,309 total - Award
common shares
[F4]2026-03-07+18,846→ 205,155 total - Tax Payment
common shares
[F5]2026-03-07$40.80/sh−31,939$1,303,111→ 173,216 total - Exercise/Conversion
restricted share units
[F6][F7][F1][F8][F12]2026-03-07−12,959→ 0 totalExercise: $0.00→ common shares (12,959 underlying) - Exercise/Conversion
restricted share units
[F6][F7][F1][F9][F12]2026-03-07−14,325→ 14,325 totalExercise: $0.00→ common shares (14,325 underlying) - Exercise/Conversion
restricted share units
[F6][F7][F1][F10][F12]2026-03-07−9,666→ 19,334 totalExercise: $0.00→ common shares (9,666 underlying) - Award
restricted share units
[F6][F7][F11][F12]2026-03-07+19,613→ 19,613 totalExercise: $0.00→ common shares (19,613 underlying)
Holdings
- 128,323
common shares (opening balance)
Footnotes (12)
- [F1]Represents the conversion upon vesting of restricted share units into common shares.
- [F10]The restricted share units vest and will be converted to common shares in three installments: 9,666 on each of March 7, 2026 and March 7, 2027 and 9,668 on March 7, 2028.
- [F11]The restricted share units vest and will be converted to common shares in three installments: 6,537 on each of March 7, 2027 and March 7, 2028 and 6,539 on March 7, 2029.
- [F12]This represents the number of restricted share units for this transaction only. Mr. Welton's aggregate remaining restricted share unit and common share balances following these transactions will be 53,272 and 173,216, respectively.
- [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, 2023. The shares earned are based on the level of achievement on the EBITDA performance conditions over the three year performance period.
- [F4]Represents the conversion of vested performance stock units into common shares granted by the Company on March 7, 2023. The shares earned are based on the level of achievement on the TSR performance conditions over the three year performance period.
- [F5]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.
- [F6]Each restricted share unit represents a contingent right to receive one common share of IMAX Corporation.
- [F7]Each restricted share unit is the economic equivalent of one common share of IMAX Corporation.
- [F8]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.
- [F9]The restricted share units vest and will be converted to common shares in three equal installments: 14,325 on each of March 7, 2025, March 7, 2026 and March 7, 2027.
Signature
/s/ Kenneth I. Weissman (attorney-in-fact for Mark Welton)|2026-03-10