IMAX CEO Richard Gelfond Exercises Options, Sells Shares

What Happened
Richard L. Gelfond, CEO of IMAX Corp (IMAX), exercised stock options and sold shares under a pre-established 10b5-1 plan between Aug 18–20, 2026. He exercised 356,757 options at $31.90 per share (total cost ~$11.38M) and sold a total of 456,757 shares in the open market for total proceeds of $23,984,308 (net cash proceeds ≈ $12.60M). The exercises and many of the sales occurred the same days.

Key Details

• Transactions:
  • 2026-08-18: Exercised 151,253 options at $31.90 (acquired; $4,824,971) and sold 151,253 shares at $51.00 (proceeds $7,714,644). (F1, F2)
  • 2026-08-19: Exercised 205,504 options at $31.90 (acquired; $6,555,578) and sold 205,504 shares at $53.27 (proceeds $10,946,294). (F1, F2)
  • 2026-08-20: Sold 100,000 shares at $53.23 (proceeds $5,323,370). (F2)
• Aggregate numbers: exercised 356,757 options; sold 456,757 shares; sale proceeds ~$23.98M; exercise cost ~$11.38M.
• Holdings after transactions (per filing): options outstanding 975,654; restricted share units 231,562; common shares 665,002. (F5)
• Notable footnotes:
  • Transactions were executed pursuant to a 10b5-1 plan dated May 19, 2026 (F1, F2).
  • The options exercised were issued in 2017 and expire on January 3, 2027 (F3); they vested in multiple installments (F4).
• Filing timeliness: Form 4 filed Aug 20, 2026 covering transactions dated Aug 18–20 — within the standard reporting window (timely).

Context
The filing reflects option exercises followed by immediate sales under a pre-arranged 10b5-1 plan (a common mechanism used to sell shares on a set schedule). This is effectively a cashless exercise and planned disposition; such sales are administrative and do not, by themselves, indicate the insider’s current market view. The proximity of the options’ January 2027 expiration may have influenced the decision to exercise.