secwatch.observer — SEC 8-K summary
======================================

Issuer:     IMAX CORP (IMAX)
CIK:        0000921582
Form:       8-K
Filed at:   2025-07-17T23:59:59+00:00
Accession:  0000921582-25-000054
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

IMAX extends CEO Gelfond's contract to Dec 2028 with increased equity awards
----------------------------------------------------------------------------

- Term extended to December 31, 2028; base salary remains $1.2 million annually.
- Target annual bonus of 100% of base salary, capped at 200%; unchanged from prior.
- Annual RSU grant of $3.5M vesting over 3 years, plus PSU grant of $3.5M tied to EBITDA and TSR.
- PSU payout ranges 0%-200%; 60% based on EBITDA, 40% on relative total shareholder return.
- Severance terms updated: equity continues vesting on termination without cause or for good reason through 2028.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/921582/000092158225000054/0000921582-25-000054-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/921582/000092158225000054/imax-20250717.htm
  HTML page:      https://secwatch.observer/filing/0000921582-25-000054

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer