Fernandes Natasha 4

What Happened

• Natasha Fernandes, CFO of IMAX Corporation, had multiple restricted share units (RSUs) and performance stock units (PSUs) convert on March 7, 2026. In total about 65,909 shares were issued to her on conversion/award. IMAX withheld 28,044 of those shares to satisfy tax withholding obligations at $40.80 per share, a withholding value of approximately $1,144,195. After withholding, Ms. Fernandes received roughly 37,865 net shares. These transactions reflect vesting/conversion and company tax withholding (not an open-market sale by the insider).

Key Details

• Transaction date: March 7, 2026; Form 4 filed March 10, 2026 (filed after the transaction date).
• Withholding price used: $40.80 per share; shares withheld: 28,044; withholding value ≈ $1,144,195.
• Shares involved (approx.): ~65,909 shares converted/awarded; ~37,865 net shares delivered to Ms. Fernandes after withholding.
• Holdings after transaction (per filing): 55,596 common shares and 32,764 remaining RSUs.
• Footnotes: conversions include vested RSUs and PSUs; PSUs were earned based on EBITDA and TSR performance conditions; IMAX withheld shares to satisfy tax obligations (cashless withholding).
• Transaction codes: A = award/grant, M = exercise/conversion of derivative, F = payment/tax withholding. This was not an open-market purchase or sale by Ms. Fernandes.

Context

• These transactions are routine vesting and conversion of equity awards. The company’s withholding of shares to cover taxes is a common cashless-withholding method and should not be read as a discretionary sale by the insider.
• PSUs here were performance-based (EBITDA and TSR) and converted based on achieved performance over the applicable period.