Douglas Group Amends IMAX Stake

TL;DR

Kevin Douglas group filed 13D/A for IMAX, ownership change incoming.

AI Summary

On June 17, 2024, Kevin Douglas and a group of related entities filed an amendment (No. 9) to their Schedule 13D for IMAX Corporation. The filing indicates a change in beneficial ownership, though specific new holdings or dollar amounts are not detailed in this excerpt. The group includes various trusts and individuals, with Kevin Douglas listed as a filer.

Why It Matters

This filing signals a potential shift in significant ownership of IMAX Corporation, which could influence future corporate strategy or stock performance.

Risk Assessment

Risk Level: medium — Schedule 13D filings, especially amendments, often precede significant corporate actions or shifts in control, introducing uncertainty.

Key Players & Entities

• IMAX Corporation (company) — Subject Company
• Kevin Douglas (person) — Filer and Group Member
• CELTIC FINANCIAL LLC (company) — Group Member
• IRREVOCABLE DESCENDANTS TRUST FBO ALEXANDER JAMES DOUGLAS (company) — Group Member
• IRREVOCABLE DESCENDANTS TRUST FBO AMANDA ANNE DOUGLAS (company) — Group Member
• IRREVOCABLE DESCENDANTS TRUST FBO JAKE EDWARD DOUGLAS (company) — Group Member
• IRREVOCABLE DESCENDANTS TRUST FBO SUMMER JEAN DOUGLAS (company) — Group Member
• JAMES E. DOUGLAS, III (person) — Group Member
• K&M DOUGLAS TRUST (company) — Group Member
• MICHELLE DOUGLAS (person) — Group Member

FAQ

Filing Documents

• d807372dsc13da.htm (SC 13D/A) — 205KB
• d807372dex71.htm (EX-7.1) — 16KB
• d807372dex72.htm (EX-7.2) — 20KB
• 0001193125-24-162610.txt ( ) — 243KB

is hereby amended and supplemented to add the following

Item 3 is hereby amended and supplemented to add the following: The information provided or incorporated by reference in Item 4 below is hereby incorporated by reference herein. ITEM4. PURPOSE OF THE TRANSACTION

is hereby amended and supplemented to add the following

Item 4 is hereby amended and supplemented to add the following: On June 13, 2024, the Douglas Survivors Trust Dated 1-29-1990, Kevin Douglas, Trustee, distributed, pursuant to the terms of such trust, 440,000 shares of Common Stock to the Nonexempt Trust FBO Kevin G. Douglas and 440,000 shares of Common Stock to the Nonexempt Trust FBO James E. Douglas, III, which trusts were established under the agreement for the Douglas Survivors Trust Dated 1-29-1990, Kevin Douglas, Trustee. No funds or other consideration was paid in exchange for the above distributions. Additionally, on June 7, 2024, Kevin Douglas received a grant of 7,856 shares of restricted Common Stock units as compensation for services as a Director of the Issuer, which restricted Common Stock units are held by the K&M Douglas Trust. No funds or other consideration was paid in exchange for grant of restricted Common Stock units. Other than as described in this Amendment, the Filers do not have any plan or proposal that relates to or would result in any of the actions described in subparagraphs (a) through (j) of Item 4 of Schedule 13D. ITEM5. INTEREST IN SECURITIES OF THE ISSUER The beneficial ownership of the Common Stock by each Filer at the date hereof is reflected on that Filers cover page. Other than as described in this Amendment, there were no transactions effected by the Filers in the Common Stock within the past sixty (60) days. ITEM6. CONTRACTS, AGREEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER The Files hereby add the following disclosure to this Item 6: Other than the relationships mentioned above and except for the Joint Filing Agreement, dated June 14, 2024, and the Limited Power of Attorney, dated June 14, 2024, each of which is filed as an exhibit to this Schedule 13D, to the knowledge of the Filers, none of the Filers is party to any other contracts, arrangements, understandings or relationships with respect to any securities of the Is