GELFOND RICHARD L 4
4 · IMAX CORP · Filed Mar 10, 2026
Research Summary
AI-generated summary of this filing
IMAX CEO Richard Gelfond Receives Award; Shares Withheld for Taxes
What Happened
Richard L. Gelfond, CEO of IMAX Corporation, received vested performance stock unit awards that converted into 196,964 and 91,768 common shares on March 7, 2026 (awarded at $0.00). To satisfy tax withholding obligations tied to the delivery of those shares, 159,670 common shares were withheld/disposed at $40.80 per share, representing $6,514,536.
Key Details
- Transaction dates: March 7, 2026 (reported on Form 4 filed March 10, 2026).
- Awards acquired: 196,964 shares (EBITDA-based PSUs) and 91,768 shares (TSR-based PSUs), both granted Jan 2, 2023.
- Tax withholding (disposition): 159,670 shares at $40.80 per share → $6,514,536. (Transaction code F = tax withholding.)
- Holdings after these transactions (per filing): outstanding options 1,818,695; restricted share units 231,562; common shares 765,002.
- Footnotes: conversions reflect vested performance stock units based on three-year EBITDA and TSR goals; IMAX withheld shares to satisfy tax liabilities.
Context
This was primarily an award conversion (performance-stock units vesting) rather than an open-market sale or purchase. The withholding of shares to cover taxes is a routine administrative step (similar to a cashless exercise) and does not necessarily signal the CEO buying or selling shares for investment reasons. The Form 4 records the compensation realization and resulting share counts for investor transparency.
Insider Transaction Report
- Award
common shares
[F1]2026-03-07+196,964→ 832,904 total - Award
common shares
[F2]2026-03-07+91,768→ 924,672 total - Tax Payment
common shares
[F3][F4]2026-03-07$40.80/sh−159,670$6,514,536→ 765,002 total
- 635,940
common shares (opening balance)
Footnotes (4)
- [F1]Represents the conversion of vested performance stock units into common shares granted by the Company on January 2, 2023. The shares earned are based on the level of achievement on the EBITDA performance conditions over the three-year performance period.
- [F2]Represents the conversion of vested performance stock units into common shares granted by the Company on January 2, 2023. The shares earned are based on the level of achievement on the TSR performance conditions over the three-year performance period.
- [F3]Mr. Gelfond is reporting the withholding of common shares by IMAX Corporation to satisfy the tax withholding obligation in connection with the delivery of common shares upon conversion of the performance stock units.
- [F4]This represents the number of common shares for this transaction only. Mr. Gelfond's aggregate remaining outstanding option, restricted share unit and common share balances following these transactions will be 1,818,695, 231,562 and 765,002, respectively.