XML 53 R35.htm IDEA: XBRL DOCUMENT v3.25.3
Capital Stock and Reserves (Tables)
 9 Months Ended
Sep. 30, 2025
Equity [Abstract]  
Schedule of Share-Based Compensation
For the three and nine months ended September 30, 2025, share-based compensation expense totaled $6.3 million and $18.9 million, respectively (2024 — $5.4 million and $16.9 million, respectively) and is reflected in the following accounts in the Condensed Consolidated Statements of Operations:
Three Months Ended
Nine Months Ended
September 30,September 30,
(In thousands of U.S. Dollars)
2025202420252024
Costs and expenses applicable to revenues
$348 $251 $944 $726 
Selling, general and administrative expenses
5,763 5,036 17,345 15,879 
Research and development
190 112 574 333 
Total$6,301 $5,399 $18,863 $16,938 
Schedule of Share-Based Compensation by Plan Type
The following table summarizes the Company’s share-based compensation expense by each award type:

Three Months Ended
Nine Months Ended
September 30,September 30,
(In thousands of U.S. Dollars)
2025202420252024
Restricted Share Units
$3,812 $3,111 $11,198 $9,986 
Performance Stock Units
2,057 2,048 5,958 5,866 
IMAX China Long Term Incentive Plan Restricted Share Units
299 297 1,346 1,019 
IMAX China Long Term Incentive Plan Performance Stock Units
133 (57)361 67 
$6,301 $5,399 $18,863 $16,938 
Schedule of Stock Options
The following table summarizes the activity under the Company’s Stock Option Plan (“SOP”) for the nine months ended September 30, 2025 and 2024:

Number of SharesWeighted Average Exercise
Price Per Share
2025202420252024
Stock options outstanding, beginning of period
2,469,238 3,329,422 $26.27 $26.23 
Exercised
(63,863)(4,687)21.83 20.85 
Expired(470,582)(607,114)29.53 28.15 
Cancelled— (1,768)— 24.38 
Stock options outstanding, end of period
1,934,793 2,715,853 25.62 25.81 
Stock options exercisable, end of period
1,934,793 2,715,853 25.62 25.81 
Schedule of IMAX LTIP Restricted Share Units
The following table summarizes the activity in respect of RSUs issued under the IMAX Corporation Second Amended and Restated Long-Term Incentive Plan (as may be amended, “IMAX LTIP”) for the nine months ended September 30, 2025 and 2024:
Number of SharesWeighted Average Grant Date
Fair Value Per Share
2025202420252024
RSUs outstanding, beginning of period
1,465,977 1,286,830 $17.16 $18.53 
Granted555,819 948,261 25.22 16.44 
Vested and settled
(713,130)(698,187)18.18 18.67 
Forfeited(40,513)(47,474)20.27 18.08 
RSUs outstanding, end of period
1,268,153 1,489,430 20.02 17.15 
Schedule of IMAX LTIP Performance Stock Units
The following table summarizes the activity in respect of PSUs issued under the IMAX LTIP for the nine months ended September 30, 2025 and 2024:

Number of AwardsWeighted Average Grant Date
Fair Value Per Share
2025202420252024
PSUs outstanding, beginning of period
1,097,634 922,621 $17.99 $19.16 
Granted(1)
555,247 580,336 24.19 17.97 
Vested and settled(1)
(463,212)(316,226)19.88 19.71 
Forfeited
(34,301)(85,764)20.77 21.00 
PSUs outstanding, end of period
1,155,368 1,100,967 20.13 18.32 

(1) For the nine months ended September 30, 2025, the balance of shares granted includes 176,751 additional shares, at a weighted average grant date fair value per share of $19.53, as PSUs granted in 2022 with Adjusted EBITDA targets vested at 175% on account of full achievement of the targets and TSR targets vested at 123.5%, which reflects actual performance.
Schedule of Basic and Diluted Weighted Average Shares Outstanding
The following table reconciles the denominator of the basic and diluted weighted average share computations:

Three Months Ended
Nine Months Ended
September 30,September 30,
(In thousands)2025202420252024
Issued and outstanding, beginning of period
53,783 52,677 52,946 53,260 
Weighted average number of shares issued (repurchased), net
5 5 615 (655)
Weighted average number of shares outstanding - basic
53,788 52,682 53,561 52,605 
Weighted average effect of potential common shares, if dilutive
1,777 1,407 1,681 1,023 
Weighted average number of shares outstanding - diluted
55,565 54,089 55,242 53,628