Douglas-linked entities trim IMAX (NYSE: IMAX) stake with 568K-share sale

Rhea-AI Filing Summary

IMAX CORP director and 10% owner Kevin Douglas–related entities reported sizable open-market sales of IMAX common stock. On March 16, 2026, accounts and trusts associated with Douglas sold a combined 568,000 shares at $37.82 per share.

After these transactions, Douglas and related entities still hold large positions, including 3,657,450 shares in a direct and joint account and additional shares through family trusts and Celtic Financial LLC. A footnote states the shares sold represent about 6.5% of his overall IMAX holdings and that his last sale of IMAX shares occurred in 2015.

Insights

Insider transactions analyst

Douglas-linked entities executed sizable, but partial, IMAX share sales.

Entities associated with Kevin Douglas, a director and 10% owner of IMAX CORP, sold 568,000 IMAX common shares in open-market trades at $37.82 per share on March 16, 2026. These are strong-signal insider sales because they are discretionary market transactions.

The filing shows Douglas and related entities retaining substantial holdings, including 3,657,450 shares in a direct and joint account plus significant trust and LLC positions. A footnote notes this sale equals about 6.5% of his overall IMAX stake and that his last sale was in 2015, suggesting a portfolio adjustment rather than an exit.

There are no derivative exercises or tax-related dispositions reported, and the derivative position table is empty. Future company filings may clarify any further changes in Douglas-linked ownership levels or additional transactions beyond this reported date.

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

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^*

DOUGLAS KEVIN

(Last) (First) (Middle)

300A DRAKES LANDING RD., STE 200

(Street)

GREENBRAE CA 94904

(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)

X	Director	X	10% Owner
	Officer (give title below)	X	Other (specify below)
			13(d)(3) group

3. Date of Earliest Transaction (Month/Day/Year)
03/16/2026

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

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

	Form filed by One Reporting Person
X	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 Stock	03/16/2026		S		330,200(12)	D	$37.82	3,657,450	D(1)(2)(3)(4)
Common Stock								440,000	I(2)(5)	By Nonexempt Trust FBO Kevin G. Douglas
Common Stock	03/16/2026		S		62,600(12)	D	$37.82	1,301,045	I(2)(10)	By James E. Douglas, III
Common Stock								571,989	I(2)(11)	By Celtic Financial, LLC
Common Stock	03/16/2026		S		43,800(12)	D	$37.82	602,311	I(2)(6)	By Irrevocable Descendants' Trust FBO Alexander James Douglas
Common Stock	03/16/2026		S		43,800(12)	D	$37.82	602,310	I(2)(7)	By Irrevocable Descendants' Trust FBO Amanda Anne Douglas
Common Stock	03/16/2026		S		43,800(12)	D	$37.82	602,310	I(2)(8)	By Irrevocable Descendants' Trust FBO Summer Jean Douglas
Common Stock	03/16/2026		S		43,800(12)	D	$37.82	602,310	I(2)(9)	By Irrevocable Descendants' Trust FBO Summer Jean Douglas

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

1. Name and Address of Reporting Person^*

DOUGLAS KEVIN

(Last) (First) (Middle)

300A DRAKES LANDING RD., STE 200

(Street)

GREENBRAE CA 94904

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)	X	Other (specify below)
			13(d)(3) group

1. Name and Address of Reporting Person^*

CELTIC FINANCIAL LLC

(Last) (First) (Middle)

300A DRAKES LANDING RD., STE 200

(Street)

GREENBRAE CA 94904

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			13(d)(3) group

1. Name and Address of Reporting Person^*

DOUGLAS JAMES E III

(Last) (First) (Middle)

300A DRAKES LANDING RD., STE 200

(Street)

GREENBRAE CA 94904

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			13(d)(3) group

Explanation of Responses:

1. These securities are held directly and jointly by Kevin Douglas and his wife, Michelle Douglas.

2. Each of the reporting persons hereunder (individually, a "Reporting Person" and collectively the "Reporting Persons") may be deemed a member of a "group" within the meaning of Section 13(d)(3) of the Securities and Exchange Act of 1934, as amended (the "Exchange Act") or Rule 13d-5 promulgated under the Exchange Act, with one or more of the other Reporting Persons. Although the Reporting Persons are reporting such securities as if they were members of a "group", the filing of this Form 4 shall not be deemed an admission by any Reporting Person that such Reporting Person is a beneficial owner of any securities other than those directly held by such Reporting Person.

3. Includes 28,352 shares held by an intentionally defective grantor trust (the "KGD IDGT"). Kevin Douglas, as the settlor of the KGD IDGT, has the right to substitute property of equivalent value in return for the shares held by the KGD IDGT and may be deemed to have shared voting and dispositive power over the shares held by the KGD IDGT.

4. Includes 28,352 shares held by an intentionally defective grantor trust (the "MMD IDGT"). Michelle Douglas, as the settlor of the MMD IDGT, has the right to substitute property of equivalent value in return for the shares held by the MMD IDGT and may be deemed to have shared voting and dispositive power over the shares held by the MMD IDGT.

5. These securities are held directly by the Nonexempt Trust FBO Kevin G. Douglas and indirectly by Kevin Douglas. Kevin Douglas is the trustee of the Nonexempt Trust FBO Kevin G. Douglas.

6. These securities are held directly by the Irrevocable Descendants' Trust FBO Alexander James Douglas and indirectly by Kevin Douglas. Kevin Douglas and Michelle Douglas, husband and wife, are each a co-trustee of the Irrevocable Descendants' Trust FBO Alexander James Douglas.

7. These securities are held directly by the Irrevocable Descendants' Trust FBO Amanda Anne Douglas and indirectly by Kevin Douglas. Kevin Douglas and Michelle Douglas, husband and wife, are each a co-trustee of the Irrevocable Descendants' Trust FBO Amanda Anne Douglas.

8. These securities are held directly by the Irrevocable Descendants' Trust FBO Jake Edward Douglas and indirectly by Kevin Douglas. Kevin Douglas and Michelle Douglas, husband and wife, are each a co-trustee of the Irrevocable Descendants' Trust FBO Jake Edward Douglas.

9. These securities are held directly by the Irrevocable Descendants' Trust FBO Summer Jean Douglas and indirectly by Kevin Douglas. Kevin Douglas and Michelle Douglas, husband and wife, are each a co-trustee of the Irrevocable Descendants' Trust FBO Summer Jean Douglas.

10. Includes 861,045 shares held directly by James E. Douglas, III and 440,000 shares held by the Nonexempt Trust FBO James E. Douglas, III (of which James E. Douglas III is the trustee), and indirectly by Kevin Douglas

11. These securities are held directly by Celtic Financial, LLC and indirectly by Kevin Douglas.

12. Kevin Douglas last sold shares of the Issuer in 2015. The total number of shares sold as reported in this Form 4 reflects approximately 6.5% of his overall holdings in the Issuer.

	/s/ Eileen Wheatman, attorney in fact for Kevin Douglas	03/16/2026
	/s/ Eileen Wheatman, attorney in fact for Celtic Financial, LLC	03/16/2026
	/s/ Eileen Wheatman, attorney in fact for James E. Douglas III	03/16/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

How many IMAX (IMAX) shares were sold in this Kevin Douglas Form 4 filing?

The filing reports that entities associated with Kevin Douglas sold a combined 568,000 shares of IMAX common stock. These were non-derivative open-market sales, meaning the shares were sold directly into the market rather than through option exercises or other derivative transactions.

At what price did Douglas-linked entities sell IMAX (IMAX) shares in this transaction?

The IMAX shares were sold at an average price of $37.82 per share. All reported transactions on March 16, 2026, list this same sale price, indicating the open-market sales occurred around this trading level during the reported session for the common stock.

What are Kevin Douglas’ IMAX (IMAX) direct and joint holdings after these sales?

Following the reported sale of 330,200 shares from the direct and joint account, that account holds 3,657,450 IMAX shares. A footnote explains these shares are held directly and jointly by Kevin Douglas and his wife, Michelle Douglas, and form part of his overall IMAX position.

Which entities linked to Kevin Douglas sold IMAX (IMAX) shares in this Form 4?

Sales involved a direct and joint account of Kevin Douglas, holdings attributed to James E. Douglas III, and several irrevocable descendants’ trusts for Alexander, Amanda and Summer Douglas. The filing also shows separate indirect holdings for a nonexempt trust and Celtic Financial LLC with no sale code that day.

How large are these IMAX (IMAX) share sales relative to Kevin Douglas’ overall holdings?

A footnote states the 568,000 shares sold represent approximately 6.5% of Kevin Douglas’ overall IMAX holdings. The same footnote notes that Douglas last sold IMAX shares in 2015, framing these transactions as a partial reduction rather than a complete exit.

Were the IMAX (IMAX) insider trades by Kevin Douglas open-market sales or related to derivatives?

All reported sales use transaction code S and are described as open-market or private sales of common stock. The derivative summary is empty, and there are no option exercises, conversions, or tax-withholding entries, indicating these trades were straightforward stock sales, not derivative-driven events.