Manwaring Daniel 4/A
Research Summary
AI-generated summary
IMAX CEO Daniel Manwaring Converts RSUs; 4,790 Shares Withheld
What Happened
Daniel Manwaring, CEO of IMAX China Holding, converted vested restricted share units (RSUs) into common shares on March 7, 2026. The filing shows conversions of 7,409 and 4,666 RSUs and a grant-related RSU award of 5,072 units. IMAX withheld 4,790 common shares to satisfy tax withholding obligations at $40.80 per share, yielding a withholding value of $195,432. This is an amended Form 4 correcting the number of shares withheld and the resulting beneficial ownership figures from an earlier filing.
Key Details
- Date of transactions: March 7, 2026.
- Actions reported: Conversion/exercise of derivative (M = RSU conversion), tax-withholding via share withholding (F), and a grant/award of RSUs (A).
- Withheld shares for taxes: 4,790 shares @ $40.80 = $195,432 (reported as a disposition via withholding).
- Shares reported acquired via conversion/award: entries of 7,409, 4,666, and 5,072 RSU-related units (zero cash price).
- Holdings after transactions (per footnote 8): 12,363 common shares and 21,816 remaining RSUs.
- Footnotes of note: RSUs convert 1-for-1 to common shares; several different vesting schedules apply (see filing). The withholding was done by IMAX to satisfy tax obligations.
- Filing status: This is an amended Form 4 (filed 2026-04-06) correcting previously reported withheld shares and beneficial ownership amounts in the Form 4 filed March 10, 2026.
Context
This was a conversion of vested RSUs with shares withheld to cover taxes (a cashless-style settlement for tax purposes), not an open-market sale or a new cash purchase. Such withholding is a routine administrative step and does not by itself indicate a change in the insider’s market view.