Capital Stock (Tables)

3 Months Ended

Mar. 31, 2021

Equity [Abstract]

Stock Compensation

	Three Months Ended
	March 31,
(In Thousands of U.S. Dollars)	2021		2020
Cost and expenses applicable to revenues	$	294	$	400
Selling, general and administrative expenses		4,944		3,707
Research and development		69		85
	$	5,307	$	4,192

Stock-based Compensation by Plan Type

The following table summarizes the Company’s share-based compensation expense by each award type:

	Three Months Ended
	March 31,
(In Thousands of U.S. Dollars)	2021		2020
Stock Options	$	351	$	513
Restricted Share Units		3,151		2,902
Performance Stock Units		1,014		279
IMAX China Stock Options		56		85
IMAX China Long Term Incentive Plan Restricted Share Units		632		405
IMAX China Long Term Incentive Plan Performance Stock Units		103		8
	$	5,307	$	4,192

Schedule of Share-based Compensation, Stock Options, Activity

The following table summarizes the activity under the Company’s Stock Option Plan (“SOP”) and IMAX Corporation Second Amended and Restated Long-Term Incentive Plan (as may be amended, “IMAX LTIP”) for the three months ended March 31, 2021 and 2020:

	Number of Shares							Weighted Average Exercise Price Per Share
	2021			2020			2021			2020
Stock options outstanding, beginning of period		4,892,962			5,732,209		$		26.81	$	26.82
Granted		—			—				—		—
Exercised		(38,754	)		—				21.26		—
Forfeited		(44,362	)		(14,876	)			23.12		21.78
Expired		(885,698	)		(772,665	)			28.31		27.03
Cancelled		(10,917	)		(591	)			27.20		20.85
Stock options outstanding, end of period		3,913,231			4,944,077				26.56		26.80
Stock options exercisable, end of period		3,615,079			4,331,193				26.93		27.32

Restricted Stock Units Activity under the IMAX LTIP

The following table summarizes the activity in respect of RSUs issued under the IMAX LTIP for the three months ended March 31, 2021 and 2020:

	Number of Awards						Weighted Average Grant Date Fair Value Per Share
	2021			2020				2021			2020
RSUs outstanding, beginning of period		1,564,838			1,065,347		$		18.33	$		23.17
Granted		754,778			937,303				20.94			15.65
Vested and settled		(523,573	)		(295,063	)			18.82			23.96
Forfeited		(60,329	)		(15,521	)			20.08			21.64
RSUs outstanding, end of period		1,735,714			1,692,066				19.26			18.88

Performance Stock Units Activity under the IMAX LTIP

The following table summarizes the activity in respect of PSUs issued under the IMAX LTIP for the three months ended March 31, 2021 and 2020:

	Number of Awards					Weighted Average Grant Date Fair Value Per Share
	2021			2020			2021			2020
PSUs outstanding, beginning of period		361,844			—	$		15.68	$		—
Granted		308,438			359,784			20.77			15.74
Forfeited		(2,526	)		—			14.84			—
PSUs outstanding, end of period		667,756			359,784			18.03			15.74

As of March 31, 2021, the maximum number of shares of common stock that may be issued with respect to PSUs outstanding is 1,168,573, assuming full achievement of the EBITDA and TSR targets.

Basic and Diluted Per-share Computations

The following table reconciles the denominator of the basic and diluted weighted average share computations:

	Three Months Ended
	March 31,
	2021		2020
(In thousands)
Issued and outstanding, beginning of period		58,921		61,176
Weighted average number of shares issued (repurchased), net		91		(758	)
Weighted average number of shares outstanding - basic		59,012		60,418
Weighted average effect of potential common shares, if dilutive		—		—
Weighted average number of shares outstanding - diluted		59,012		60,418