IMAX CFO exercises units, gets new stock awards
IMAX Corporation’s Chief Financial Officer and EVP Natasha Fernandes reported multiple equity compensation transactions.
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Form Type
4
Rhea-AI Filing Summary
IMAX Corporation’s Chief Financial Officer and EVP Natasha Fernandes reported multiple equity compensation transactions. She exercised and converted restricted and performance stock units into a total of 20,496 common shares at a conversion price of $0.00 per share.
To cover tax obligations on these deliveries, the company withheld 28,044 common shares at a value of $40.80 per share, recorded as tax-withholding dispositions rather than open-market sales. She also received new grants of 13,526 restricted share units and 32, - sorry - wait
Insider Trade Summary
20,496 shares exercised/converted
Exercise
12 txns
Insider
Fernandes Natasha
Role
Chief Financial Officer & EVP
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | restricted share units | 6,927 | $0.00 | $0.00 |
| Exercise | restricted share units | 7,903 | $0.00 | $0.00 |
| Exercise | restricted share units | 5,666 | $0.00 | $0.00 |
| Grant/Award | restricted share units | 13,526 | $0.00 | $0.00 |
| Exercise | common shares | 6,927 | $0.00 | $0.00 |
| Exercise | common shares | 7,903 | $0.00 | $0.00 |
| Exercise | common shares | 5,666 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | common shares | 10,974 | $40.80 | $448K |
| Grant/Award | common shares | 21,815 | $0.00 | $0.00 |
| Grant/Award | common shares | 10,072 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | common shares | 17,070 | $40.80 | $696K |
| holding | common shares (opening balance) | -- | -- | -- |
Holdings After Transaction:
restricted share units — 32,764 contracts (Direct);
common shares — 55,596 shares (Direct);
common shares (opening balance) — 31,257 shares (Direct)
Footnotes (12)
- F1. Represents the conversion upon vesting of restricted share units into common shares.
- F2. Ms. Fernandes is reporting the withholding of common shares by IMAX Corporation to satisfy the tax withholding obligations in connection with the delivery of common shares upon conversion of the restricted share unit transactions.
- F3. Represents the conversion of vested performance stock units into common shares granted by the Company on March 7, 2023. The shares earned are based on the level of achievement on the EBITDA performance conditions over the three year performance period.
- F4. Represents the conversion of vested performance stock units into common shares granted by the Company on March 7, 2023. The shares earned are based on the level of achievement on the TSR performance conditions over the three year performance period.
- F5. Ms. Fernandes is reporting the withholding of common shares by IMAX Corporation to satisfy the tax withholding obligations in connection with the delivery of common shares upon conversion of the performance stock unit transactions.
- F6. Each restricted share unit represents a contingent right to receive one common share of IMAX Corporation.
- F7. Each restricted share unit is the economic equivalent of one common share of IMAX Corporation.
- F8. The restricted share units vest and will be converted to common shares in three installments: 6,925 on each of March 7, 2024 and March 7, 2025 and 6,927 on March 7, 2026.
- F9. The restricted share units vest and will be converted to common shares in three installments: 7,903 on each of March 7, 2025 and March 7, 2026 and 7,904 on March 7, 2027.
- F10. The restricted share units vest and will be converted to common shares in three installments: 5,666 on each of March 7, 2026 and March 7, 2027 and 5,668 on March 7, 2028.
- F11. The restricted share units vest and will be converted to common shares in three installments: 4,508 on each of March 7, 2027 and March 7, 2028 and 4,510 on March 7, 2029.
- F12. This represents the number of restricted share units for this transaction only. Ms. Fernandes' aggregate remaining restricted share unit and common share balances following these transactions will be 32,764 and 55,596, respectively.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did IMAX (IMAX) CFO Natasha Fernandes report on this Form 4?
Natasha Fernandes reported routine equity compensation activity, including unit conversions into common shares and new awards. She exercised restricted and performance stock units, received additional stock and unit grants, and had a portion of shares withheld by IMAX Corporation to satisfy tax obligations tied to these vesting events.
Were any of the IMAX CFO’s Form 4 transactions open-market buys or sells?
None of the reported transactions were open-market buys or sells. The activities consist of derivative exercises or conversions, equity grants, and tax-withholding dispositions, which are compensation and withholding mechanics rather than discretionary trading in IMAX common shares on the open market.
What new equity awards did Natasha Fernandes receive from IMAX?
Fernandes received 13,526 new restricted share units and multiple common share grants, including 21,815 and 10,072 common shares. Each restricted share unit is the economic equivalent of one IMAX common share and vests in scheduled installments over several years, subject to continued service conditions.
What performance conditions applied to the vested IMAX performance stock units?
The vested performance stock units converted into common shares were granted on March 7, 2023. Shares earned under these awards were based on achievement of EBITDA performance conditions and total shareholder return (TSR) performance conditions over a three-year performance period, as described in the footnotes.
AI-generated analysis. How Rhea-AI works. Not financial advice.
