PABLO CALAMERA 4

What Happened
Pablo Calamera, CTO & EVP of IMAX Corporation, converted multiple vested restricted share units (RSUs) and performance stock units (PSUs) into common shares on March 7, 2026. The filing shows several derivative conversions/awards totaling newly issued shares, and IMAX withheld 15,733 common shares to satisfy tax withholding obligations at $40.80 per share, resulting in cash value withheld of $410,489 (10,061 shares) and $231,418 (5,672 shares) — about $641,907 in total. Some of the converted awards were PSUs from a March 7, 2023 grant that vested based on EBITDA performance.

Key Details

• Transaction date: March 7, 2026; Form 4 filed March 10, 2026.
• Withheld shares for taxes: 15,733 shares at $40.80 per share — $410,489 (10,061 shares) and $231,418 (5,672 shares).
• Conversion/exercise entries (derivative conversions, code M) and award/acquisition entries (code A) reflect RSU/PSU vesting and conversion to common stock.
• Remaining holdings after these transactions: 20,840 outstanding restricted share units and 58,012 common shares (per footnote).
• Notable footnotes: conversions upon vesting (F1), PSUs tied to EBITDA performance from the 2023 grant (F3), and company withholding of shares to satisfy tax obligations (F2, F4).
• Transaction codes: M = exercise/conversion of derivative; A = grant/award; F = withholding/payment for taxes. This was a company withholding to cover taxes, not an open-market sale.

Context
This was effectively a conversion/vesting event with shares withheld by IMAX to satisfy tax liabilities (a common, routine administrative outcome), not an open-market sale that would signal an outright divestiture. For derivatives/RSUs/PSUs, the filing shows the mechanics: awards vested/converted into shares and the company withheld a portion to cover taxes; PSUs reflect prior performance-based awards. The filing does not indicate a 10b5-1 plan or a late filing flag.