GELFOND RICHARD L 4

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.