<SEC-DOCUMENT>0001179110-12-004749.txt : 20120309
<SEC-HEADER>0001179110-12-004749.hdr.sgml : 20120309
<ACCEPTANCE-DATETIME>20120309185526
ACCESSION NUMBER:		0001179110-12-004749
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20120308
FILED AS OF DATE:		20120309
DATE AS OF CHANGE:		20120309

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Vance Jeff
		CENTRAL INDEX KEY:			0001382484

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35066
		FILM NUMBER:		12682111

	MAIL ADDRESS:	
		STREET 1:		IMAX CORPORATION
		STREET 2:		2525 SPEAKMAN DRIVE
		CITY:			MISSISSAUGA
		STATE:			A6
		ZIP:			L5K 1B1

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			IMAX CORP
		CENTRAL INDEX KEY:			0000921582
		STANDARD INDUSTRIAL CLASSIFICATION:	PHOTOGRAPHIC EQUIPMENT & SUPPLIES [3861]
		IRS NUMBER:				980140269
		STATE OF INCORPORATION:			A6
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		2525 SPEAKMAN DRIVE
		STREET 2:		MISSISSAUGA
		CITY:			ONTARIO CANADA
		STATE:			A6
		ZIP:			L5K 1B1
		BUSINESS PHONE:		9054036500

	MAIL ADDRESS:	
		STREET 1:		2525 SPEAKMAN DRIVE
		STREET 2:		MISSISSAUGA
		CITY:			ONTARIO CANADA
		STATE:			A6
		ZIP:			L5K 1B1
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0304</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2012-03-08</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000921582</issuerCik>
        <issuerName>IMAX CORP</issuerName>
        <issuerTradingSymbol>IMAX</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001382484</rptOwnerCik>
            <rptOwnerName>Vance Jeff</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>2525 SPEAKMAN DRIVE</rptOwnerStreet1>
            <rptOwnerStreet2>C/O IMAX CORPORATION</rptOwnerStreet2>
            <rptOwnerCity>MISSISSAUGA</rptOwnerCity>
            <rptOwnerState>A6</rptOwnerState>
            <rptOwnerZipCode>L5K 1B1</rptOwnerZipCode>
            <rptOwnerStateDescription>ONTARIO, CANADA</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Sr VP, Finance &amp; Controller</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable></nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>stock options (to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>25.82</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2012-03-08</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>35000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>25.82</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2019-03-08</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>common shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>35000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>35000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The stock options become exercisable in five installments: 3,500 on March 8, 2013; 5,250 on March 8, 2014; 7,000 on March 8, 2015; 8,750 on March 8, 2016 and 10,500 on March 8, 2017.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Jeffrey Vance</signatureName>
        <signatureDate>2012-03-09</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
