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Capital Stock and Reserves (Tables)

9 Months Ended

Sep. 30, 2021

Equity [Abstract]

Stock Compensation

	Three Months Ended										Nine Months Ended
	September 30,										September 30,
(In Thousands of U.S. Dollars)	2021					2020					2021					2020
Cost and expenses applicable to revenues	$		314			$		130			$		920			$		530
Selling, general and administrative expenses			5,706					5,151					17,046					15,325
Research and development			89					29					245					114
	$		6,109			$		5,310			$		18,211			$		15,969

Stock-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)	2021					2020					2021					2020
Stock Options	$		253			$		433			$		808			$		1,449
Restricted Share Units			3,900					3,430					11,524					10,866
Performance Stock Units			1,183					483					3,169					1,229
IMAX China Stock Options			41					600					143					701
IMAX China Long Term Incentive Plan Restricted Share Units			600					332					2,217					1,645
IMAX China Long Term Incentive Plan Performance Stock Units			132					32					350					79
	$		6,109			$		5,310			$		18,211			$		15,969

Schedule of Share-based Compensation, Stock Options, Activity

The following table summarizes the activity under the Company’s Stock Option Plan (“SOP”) and the IMAX Corporation Second Amended and Restated Long-Term Incentive Plan (as may be amended, “IMAX LTIP”) for the nine months ended September 30, 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			(41,613	)			—					21.23					—
Forfeited			(86,587	)			(23,633	)				22.51					22.35
Expired			(903,038	)			(772,665	)				28.31					27.03
Cancelled			(123,220	)			(18,483	)				26.68					27.97
Stock options outstanding, end of period			3,738,504				4,917,428					26.61					26.80
Stock options exercisable, end of period			3,487,857				4,315,484					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 nine months ended September 30, 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			831,123				1,050,385					21.03					15.35
Vested and settled			(571,616	)			(386,451	)				19.11					21.59
Forfeited			(231,380	)			(54,933	)				19.50					19.70
RSUs outstanding, end of period			1,592,965				1,674,348					19.29					18.75

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 nine months ended September 30, 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			309,574				370,265					20.77					15.66
Forfeited			(54,634	)			(2,526	)				16.08					14.84
PSUs outstanding, end of period			616,784				367,739					18.20					15.67

As of September 30, 2021, the maximum number of shares of common stock that may be issued with respect to PSUs outstanding is 1,079,372, 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										Nine Months Ended
	September 30,										September 30,
	2021					2020					2021					2020
(In thousands)
Issued and outstanding, beginning of period			59,396					58,857					58,921					61,176
Weighted average number of shares (repurchased) issued, net			(152	)				2					286					(1,816	)
Weighted average number of shares outstanding - basic			59,244					58,859					59,207					59,360
Weighted average effect of potential common shares, if dilutive			—					—					—					—
Weighted average number of shares outstanding - diluted			59,244					58,859					59,207					59,360

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