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IMAX CORP·4

Mar 10, 4:25 PM ET

WELTON MARK 4

Research Summary

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Updated

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.