GELFOND RICHARD L 4

What Happened

• Richard L. Gelfond, CEO of IMAX Corporation (IMAX), exercised stock options and sold the resulting common shares in same‑day open‑market transactions. Over April 13–15, 2026 he exercised a total of 120,132 shares (conversion of derivative securities) at $31.40 per share (total cost ≈ $3,772,145) and sold those 120,132 shares in the open market at prices between $37.07 and $37.15 (total proceeds ≈ $4,461,339). The sales were executed under a 10b5‑1 plan.

Key Details

• Transaction dates and prices:
  • 2026‑04‑13: exercised 97,462 shares @ $31.40 (≈ $3,060,307); sold 97,462 @ $37.15 (≈ $3,620,967).
  • 2026‑04‑14: exercised 6,924 shares @ $31.40 (≈ $217,414); sold 6,924 @ $37.07 (≈ $256,657).
  • 2026‑04‑15: exercised 15,746 shares @ $31.40 (≈ $494,424); sold 15,746 @ $37.07 (≈ $583,715).
• Aggregate: 120,132 shares exercised and sold; proceeds ≈ $4.46M; exercise cost ≈ $3.77M.
• Shares/holdings after these transactions (per filing): outstanding options 1,417,273; restricted share units 231,562; common shares 765,002.
• Notable footnotes:
  • Transactions reflect conversion upon exercise of stock options pursuant to a 10b5‑1 plan dated December 9, 2025 (F1).
  • The options exercised were issued in 2016 and expire June 7, 2026 (F2); they vested in three installments in 2016 (F3).
  • The derivative “conversion” entries record the option-to-share exercise (F4 clarifies post‑transaction balances).
• Filing timeliness: Form 4 filed April 15, 2026 covering transactions through April 15 — filing appears timely (no late‑filing flag indicated).

Context

• This was an option exercise followed by immediate open‑market sales (a cashless exercise pattern): the options were converted into common shares and those shares were sold shortly after, so these transactions do not represent a fresh purchase/endorsement of the stock.
• Such exercises are often routine (to realize gains or cover exercise cost/taxes) and should not be read alone as a buy or sell recommendation.