IMAX Shareholder Kevin Douglas Updates Beneficial Ownership

Ticker: IMAX · Form: SC 13D/A · Filed: 2024-01-25T00:00:00.000Z

Sentiment: neutral

Topics: insider-ownership, amendment, shareholder-update

TL;DR

**Major IMAX shareholder Kevin Douglas and related entities updated their ownership stake.**

AI Summary

Kevin Douglas, a significant shareholder of IMAX Corp, along with several trusts and Celtic Financial LLC, filed an Amendment No. 8 to their Schedule 13D on January 25, 2024. This filing updates their beneficial ownership of IMAX Common Stock as of December 31, 2023. While the filing itself doesn't detail a specific transaction, it indicates a change in their reported holdings, which is important for investors as it reflects the ongoing stake of a major insider group in the company.

Why It Matters

This filing matters to IMAX investors because it provides transparency into the holdings of a key insider group, which can signal their confidence (or lack thereof) in the company's future.

Risk Assessment

Risk Level: low — This filing is an update to existing ownership and does not indicate any immediate negative or positive event, thus posing a low risk.

Analyst Insight

A smart investor would note the continued involvement of this significant insider group and monitor future filings for any substantial changes in their ownership percentage or stated intentions, as these could signal shifts in their outlook on IMAX's prospects.

Key Players & Entities

FAQ

Who is the primary reporting person for this SC 13D/A filing?

The primary reporting person for this SC 13D/A filing is Kevin Douglas, as indicated by the 'FILED BY: COMPANY CONFORMED NAME: DOUGLAS KEVIN' section.

What is the CUSIP number for IMAX Corporation's Common Stock?

The CUSIP number for IMAX Corporation's Common Stock is 45245E109, as stated in the 'Title of Class of Securities' section of the filing.

What is the date of the event that required this filing?

The date of the event which required this filing is December 31, 2023, as specified in the 'Date of Event which Requires Filing of this Statement' section.

Which legal entity is authorized to receive notices and communications for the reporting persons?

Ryan J. York of Accretive Legal, PLLC, located at 34522 N. Scottsdale Rd. STE 120-113, Scottsdale, AZ 85266, is authorized to receive notices and communications, as per the filing.

What is the amendment number for this Schedule 13D filing?

This is Amendment No. 8 to the Schedule 13D, as indicated by '(Amendment No. 8)' in the filing title.

Filing Stats: 3,427 words · 14 min read · ~11 pages · Grade level 16.2 · Accepted 2024-01-25 16:30:58

Filing Documents

From the Filing

SC 13D/A 1 d714034dsc13da.htm SC 13D/A SC 13D/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 8) IMAX Corporation (Name of Issuer) Common Stock (Title of Class of Securities) 45245E109 (CUSIP Number) Ryan J. York Accretive Legal, PLLC 34522 N. Scottsdale Rd. STE 120-113 Scottsdale, AZ 85266 (425) 786-9256 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) December 31, 2023 (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of 240.13d-1(e), 240.13d-1(f), or 240.13d-1(g), check the following box. Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See 240.13d-7 for other parties to whom copies are to be sent. * The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 45245E109 1 NAMES OF REPORTING PERSONS Kevin Douglas 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) (b) 3 SEC USE ONLY 4 SOURCE OF FUNDS (SEE INSTRUCTIONS) PF 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7 SOLE VOTING POWER: 0 8 SHARED VOTING POWER: 7,949,014 (1)(2)(3)(4) 9 SOLE DISPOSITIVE POWER: 0 10 SHARED DISPOSITIVE POWER: 8,872,659 (1)(2)(3)(4)(5) 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 8,872,659 (1)(2) (3)(4)(5) 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 16.3 % (6) 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN (1) Kevin Douglas and his wife, Michelle Douglas, hold 3,849,932 shares jointly as the beneficiaries and co-trustees of the K&M Douglas Trust. In addition, Kevin Douglas and Michelle Douglas are co-trustees of the Irrevocable Descendants Trust FBO Alexander James Douglas which holds 646,111 shares, the Irrevocable Descendants Trust FBO Amanda Anne Douglas which holds 646,110 shares, the Irrevocable Descendants Trust FBO Jake Edward Douglas which holds 646,110 shares, and the Irrevocable Descendants Trust FBO Summer Jean Douglas which holds 646,110 shares. (2) Kevin Douglas is the Manager of Celtic Financial LLC, which holds 571,989 shares. (3) Includes 62,652 shares held by an intentionally defective grantor trust (the KGD IDGT). Kevin Douglas, as the settlor of the KGD IDGT, has the right to substitute property of equivalent value in return for the shares held by the KGD IDGT and may be deemed to have shared voting and dispositive power over the shares held by the KGD IDGT. (4) Kevin Douglas is the trustee of the Douglas Survivors Trust Dated 1-29-1990, Kevin Douglas, Trustee, which holds 880,000 shares. (5) Kevin Douglas also has dispositive power with respect to 923,645 shares held by James E. Douglas, III. (6) Based on 54,607,095 shares of the Issuers common stock outstanding as of September 30, 2023, as reported on the Issuers 10-Q for the quarter ended September 30, 2023, filed with the Securities and Exchange Commission (the SEC) on October 25, 2023. CUSIP No. 45245E109 1 NAMES OF REPORTING PERSONS Michelle Douglas 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) (b) 3 SEC USE ONLY 4 SOURCE OF FUNDS (SEE INSTRUCTIONS) PF 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7 SOLE VOTING POWER: 0 8 SHARED VOTING POWER: 6,497,025 (1)(2) 9 SOLE DISPOSITIVE POWER: 0 10 SHARED DISPOSITIVE POWER: 6,497,025 (1)(2) 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 6,497,025 (1)(2) 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 11.9% (3) 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN (1) Kevin Douglas and his wi

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