IMAX (NYSE: IMAX) deputy GC reports equity awards and tax-withheld shares
Rhea-AI Filing Summary
IMAX Corporation’s Deputy General Counsel, Corporate Secretary and Chief Compliance Officer Kenneth Ian Weissman reported routine equity compensation activity. He exercised and converted restricted and performance share units into 9,420 common shares, reflecting the vesting of prior awards. To cover tax obligations on these deliveries, IMAX withheld 5,681 common shares at a price of $40.80 per share, which is recorded as tax-withholding dispositions rather than open-market sales. Weissman also received new grants of restricted share units and common shares as compensation. Following these transactions, he holds 36,205 common shares and 11,253 restricted share units, indicating a continued significant equity stake aligned with shareholders.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 10,072 shares
Net Buy
11 txns
Insider
Weissman Kenneth Ian
Role
Deputy GC, Corp. Sec. & CCO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | restricted share units | 3,619 | $0.00 | $0.00 |
| Exercise | restricted share units | 4,001 | $0.00 | $0.00 |
| Exercise | restricted share units | 1,800 | $0.00 | $0.00 |
| Grant/Award | restricted share units | 3,652 | $0.00 | $0.00 |
| Exercise | common shares | 3,619 | $0.00 | $0.00 |
| Exercise | common shares | 4,001 | $0.00 | $0.00 |
| Exercise | common shares | 1,800 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | common shares | 3,397 | $40.80 | $139K |
| Grant/Award | common shares | 6,333 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | common shares | 2,284 | $40.80 | $93K |
| holding | common shares (opening balance) | -- | -- | -- |
Holdings After Transaction:
restricted share units — 11,253 shares (Direct);
common shares — 36,205 shares (Direct);
common shares (opening balance) — 26,133 shares (Direct)
Footnotes (11)
- F1. Represents the conversion upon vesting of restricted share units into common shares.
- F2. Mr. Weissman 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. Mr. Weissman 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.
- F5. Each restricted share unit represents a contingent right to receive one common share of IMAX Corporation.
- F6. Each restricted share unit is the economic equivalent of one common share of IMAX Corporation.
- F7. The restricted share units vest and will be converted to common shares in three equal installments: 3,619 on each of March 7, 2024, March 7, 2025 and March 7, 2026.
- F8. The restricted share units vest and will be converted to common shares in three equal installments: 4,001 on each of March 7, 2025, March 7, 2026 and March 7, 2027.
- F9. The restricted share units vest and will be converted to common shares in three equal installments: 1,800 on each of March 7, 2026, March 7, 2027 and March 7, 2028.
- F10. The restricted share units vest and will be converted to common shares in three installments: 1,217 on each of March 7, 2027 and March 7, 2028 and 1,218 on March 7, 2029.
- F11. This represents the number of restricted share units for this transaction only. Mr. Weissman's aggregate remaining restricted share unit and common share balances following these transactions will be 11,253 and 36,205, respectively.
FAQ
What insider transactions did IMAX (IMAX) executive Kenneth Weissman report?
Kenneth Weissman reported vesting-related equity transactions, converting awards into 9,420 IMAX common shares. He also had 5,681 shares withheld at $40.80 for taxes and received new equity grants, all reflecting routine compensation activity rather than open-market buying or selling.
What are Kenneth Weissman’s IMAX (IMAX) holdings after these transactions?
After the reported transactions, Kenneth Weissman holds 36,205 IMAX common shares and 11,253 restricted share units. This mix of stock and unvested awards shows a meaningful ongoing equity position that continues to tie his compensation to IMAX’s share performance.
AI-generated analysis. How Rhea-AI works. Not financial advice.
