IMAX Corp Extends Chief Legal Officer's Employment to 2029

What Happened

• On August 19, 2026, IMAX Corporation amended the employment agreement of Robert D. Lister, the Company’s Chief Legal Officer and Senior Executive Vice President, extending his employment term to December 31, 2029. The filing (Item 5.02) states that Mr. Lister’s compensation and severance terms otherwise remain unchanged.

Key Details

• Amendment date: August 19, 2026; new term ends December 31, 2029.
• If IMAX terminates Mr. Lister for cause or he resigns without “Good Reason” before Dec 31, 2029, all granted but unvested equity awards will be cancelled without consideration.
• Exception: if Mr. Lister gives at least six months’ written notice of resignation, unvested equity awards will continue to vest per the LTIP’s Service Factor (PSUs remain subject to original performance conditions).
• After Dec 31, 2029, if IMAX does not offer continuation on substantially similar terms and his employment terminates, unvested equity awards as of Dec 31, 2029 will continue to vest per the LTIP’s Service Factor (PSUs subject to performance).
• The Amendment will be filed as an exhibit to IMAX’s Form 10-Q for the quarter ending September 30, 2026.

Why It Matters

• This amendment formalizes retention of a senior legal executive through 2029 and clarifies how his equity awards will be treated in various departure scenarios. For investors, the key points are continuity in leadership and the specific vesting protections and forfeiture conditions tied to resignations and terminations—factors that affect executive incentives and the potential timing of equity expense or dilution.