GELFOND RICHARD L 4
4 · IMAX CORP · Filed Apr 28, 2026
Research Summary
AI-generated summary of this filing
IMAX CEO Richard Gelfond Exercises Options and Sells 8,943 Shares
What Happened
Richard L. Gelfond, CEO of IMAX (IMAX), exercised stock options to convert 8,943 derivative shares into common stock at $31.40 per share (cost basis $280,810) and immediately sold those 8,943 shares in the open market at $37.33 per share, realizing $333,814. The transactions were executed on April 27, 2026 and reported on Form 4.
Key Details
- Transaction date: 2026-04-27 (Form 4 filed 2026-04-28 — timely filing).
- Exercise/conversion: 8,943 shares acquired at $31.40 each — total acquisition value $280,810.
- Sale: 8,943 shares sold at $37.33 each — total proceeds $333,814.
- Footnotes: Exercise and sale were made pursuant to a 10b5-1 plan dated December 9, 2025; sales under that plan are now complete. Options were originally issued in 2016 and expire June 7, 2026. The options vested in 2016 (installments in June, September and December 2016).
- Holdings after the transactions: options outstanding 1,332,411; restricted share units 231,562; common shares 765,002.
Context
This was an option exercise followed by an immediate sale under a prearranged 10b5-1 plan (a cashless-like transaction). Such filings are commonly routine (liquidity or option-exercise driven) and do not, by themselves, indicate management sentiment about the company. The exercised options were from a 2016 grant that is nearing its June 7, 2026 expiration, which can be a practical reason for exercising before expiry.
Insider Transaction Report
- Conversion
common shares
[F1]2026-04-27$31.40/sh+8,943$280,810→ 773,945 total - Sale
common shares
2026-04-27$37.33/sh−8,943$333,814→ 765,002 total - Conversion
stock options (to buy)
[F2][F3][F4]2026-04-27$31.40/sh−8,943$280,810→ 1,332,411 totalExercise: $31.40Exp: 2026-06-07→ common shares (8,943 underlying)
- 765,002
common shares (opening balance)
Footnotes (4)
- [F1]Represents the conversion upon exercise of stock options into common shares pursuant to a 10b5-1 Plan dated December 9, 2025. Effective April 27, 2026, the sales under the 10b5-1 plan are complete.
- [F2]These options were issued in 2016 and are set to expire on June 7, 2026.
- [F3]The stock options became exercisable in three installments: 162,095 on each of June 7, 2016 and September 1, 2016 and 162,094 on December 31, 2016.
- [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 1,332,411, 231,562 and 765,002, respectively.