IMAX Form 4: Chief Legal Officer Disposes of 20,000 Shares Under 10b5-1 Plan

Rhea-AI Filing Summary

Robert D. Lister, Chief Legal Officer and Senior Executive Vice President of IMAX Corporation, reported a sale of common stock. On 09/15/2025 Mr. Lister sold 20,000 shares at a reported price of $32.80 per share under a 10b5-1 trading plan dated June 11, 2025. After the sale his reported beneficial ownership of common shares is 161,421. The filing also discloses his remaining equity holdings across compensation vehicles: 50,143 outstanding options and 70,609 restricted share units following the transaction. The Form 4 was filed individually and signed by an attorney-in-fact on Mr. Lister's behalf.

Positive

• Sale executed under a 10b5-1 plan, indicating a pre-arranged, rule-compliant disposition
• Clear disclosure of post-transaction holdings: 161,421 common shares, 50,143 options, 70,609 RSUs

Negative

• Reduction of direct common share holdings by 20,000 shares (from 181,421 to 161,421)
• Transaction provides no information on company performance, limiting material insight for investors

Insights

Corporate Governance Expert

TL;DR: Officer sale executed under a 10b5-1 plan reduces his common shares but leaves significant option and RSU holdings.

This Form 4 shows a pre-arranged sale under a 10b5-1 plan, which is commonly used by insiders to avoid timing accusations. The sale of 20,000 shares at $32.80 is explicit and leaves Mr. Lister with 161,421 common shares plus sizable unexercised option and RSU positions. For governance and disclosure purposes, the filing is clear and timely; it indicates no ad-hoc insider trading concerns but does reduce his direct share stake.

Securities Analyst

TL;DR: Transaction is routine insider liquidity under a 10b5-1 plan, not an explicit company-performance signal.

The sale is identified as pursuant to a 10b5-1 plan (dated June 11, 2025), which typically signals pre-scheduled dispositions. The price and quantity are disclosed: 20,000 shares at $32.80. Post-transaction holdings include 161,421 common shares, 50,143 options and 70,609 RSUs, which remain meaningful equity exposure. This filing alone provides no information about company operating performance.

Insider Trade Summary

Net Seller: 20,000 shares

Net Sell 2 txns

Insider LISTER ROBERT D

Role Chief Legal Officer Sr Exec VP

Sold 20,000 shs ($656K)

Type	Security	Shares	Price	Value
Sale	common shares	20,000	$32.80	$656K
holding	common shares (opening balance)	--	--	--

Holdings After Transaction: common shares — 161,421 shares (Direct); common shares (opening balance) — 181,421 shares (Direct)

Footnotes (2)

1. F1. This sale is pursuant to a 10b5-1 Plan dated June 11, 2025.
2. F2. Mr. Lister's aggregate remaining outstanding option, restricted share unit and common share balances following these transactions will be 50,143, 70,609 and 161,421, respectively.

FAQ

What did IMAX (IMAX) insider Robert D. Lister sell on 09/15/2025?

He sold 20,000 common shares at a reported price of $32.80 per share.

Was the sale by Robert D. Lister pre-planned or discretionary?

The sale was executed pursuant to a 10b5-1 plan dated June 11, 2025, indicating a pre-established trading plan.

What are Mr. Lister's remaining holdings after the reported transaction?

Following the sale he beneficially owns 161,421 common shares, 50,143 outstanding options, and 70,609 restricted share units.

Who filed the Form 4 for Robert D. Lister?

The Form 4 was signed and filed by Kenneth I. Weissman as attorney-in-fact for Robert D. Lister on 09/15/2025.

Does this Form 4 indicate any additional derivative transactions?

No. Table II (derivative securities) contains no reported transactions in this filing.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 09/15/2025 - 05:00 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

LISTER ROBERT D

(Last) (First) (Middle)

902 BROADWAY

20TH FLOOR

(Street)

NEW YORK NY 10010-6002

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
IMAX CORP [ IMAX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Legal Officer Sr Exec VP

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
common shares (opening balance)								181,421	D
common shares	09/15/2025		S		20,000(1)	D	$32.8	161,421(2)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. This sale is pursuant to a 10b5-1 Plan dated June 11, 2025.

2. Mr. Lister's aggregate remaining outstanding option, restricted share unit and common share balances following these transactions will be 50,143, 70,609 and 161,421, respectively.

Remarks:

	/s/ Kenneth I. Weissman (attorney-in-fact for Robert D. Lister)	09/15/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.