Anne Globe
IMAXAbout Anne Globe
Anne Globe (age 62) is Chief Marketing Officer at IMAX, appointed January 29, 2024; she leads the company’s global brand and marketing across 89 countries and territories. Prior roles include CMO at Skydance Media (2015–2020) and CMO at DreamWorks Animation (1996–2013). Company performance context during her tenure: 2024 TSR was 70.4%; three-year average Adjusted EBITDA growth was 24.0% and three-year TSR 43.5% (~80th percentile vs Russell 2000). 2024 operating highlights included revenue $352.2m (target $386.0m), Adjusted EBITDA $138.9m (target $146.5m), installations 146 (above target), and signings 130 (at target). Her 2024 qualitative bonus assessment cited strengthening studio relationships, innovative brand/alternative content marketing, and cost efficiencies via in-house creative buildout.
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Skydance Media | Chief Marketing Officer | 2015–2020 | Led global marketing/distribution strategies for major IP including Mission: Impossible, Terminator, Jack Reacher, driving franchise monetization and box office performance. |
| DreamWorks Animation | Chief Marketing Officer | 1996–2013 | Oversaw marketing, distribution, licensing for Kung Fu Panda, How to Train Your Dragon, Shrek, Madagascar; expanded franchise value and consumer products. |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| University of Southern California (Business of Cinematic Arts) | Adjunct Professor | 2018–present | Teaching/industry engagement in cinematic arts/business. |
| Academy of Motion Picture Arts and Sciences | Member | Not disclosed | Industry leadership/recognition. |
| American Film Institute | Member | Not disclosed | Industry affiliation. |
Fixed Compensation
| Component (2024) | Amount/Terms | Source |
|---|---|---|
| Base salary | $725,000 | |
| Target annual bonus | 50% of salary | |
| Quantitative vs qualitative weighting | 50% quantitative / 50% qualitative | |
| Actual bonus paid | $327,027 (97.3% of target) | |
| All other compensation (perqs) | $54,908 total: $9,284 supplemental health premiums; $19,870 car allowance; $8,625 401(k) contribution; $2,292 executive wellness; $14,837 reimbursable office expenses |
Performance Compensation
2024 Annual Bonus Scorecard (Company-wide metrics applied to NEOs)
| Metric | Weight | Threshold | Target | Maximum | Actual | Payout for metric |
|---|---|---|---|---|---|---|
| Total Revenue ($m) | 25% | 328.1 | 386.0 | 463.2 | 352.2 | 71% |
| Total Adjusted EBITDA ($m) | 19% | 124.5 | 146.5 | 175.8 | 138.9 | 83% |
| Free Cash Flow before Growth CAPEX ($m) | 13% | 59.5 | 70.0 | 84.0 | 54.0 | 0% |
| Installations (count) | 19% | 119 | 140 | 168 | 146 | 121% |
| Signings (count) | 19% | 111 | 130 | 156 | 130 | 100% |
| Streaming Tech Bookings ($m) | 6% | 12.8 | 15.0 | 18.0 | 3.2 | 0% |
| Quantitative factor (weighted) | — | — | — | — | — | 74.7% of target |
| Qualitative factor (Anne Globe) | — | — | — | — | — | 120% of target (key achievements: studio relationships, brand/alt content marketing, in-house creative efficiencies) |
Result: Anne’s total annual cash bonus paid at 97.3% of target ($327,027).
Long-Term Incentives (granted 2024)
| Award type | Grant date | Shares (#) | Grant-date fair value ($) | Vesting | Performance metrics / payout range |
|---|---|---|---|---|---|
| RSU | Mar 7, 2024 | 36,677 | $618,741 | 33% on Mar 7, 2025; 33% on Mar 7, 2026; 34% on Mar 7, 2027 | Time-based; no performance condition |
| PSU | Mar 7, 2024 | 12,225 target | $206,236 | Cliff vest after 3-year period (Q1 2027) | 2024 PSUs for Globe: Average Annual Adjusted EBITDA Growth only; vest 0–175% of target based on 3-year performance |
Assessment context: Company’s 2022 PSUs (across NEOs) vested at 154.4% of target (Adj. EBITDA 24.0% avg growth; TSR ~79th percentile), underscoring recent performance momentum.
Equity Ownership & Alignment
| Item | Detail | Source |
|---|---|---|
| Beneficial ownership (as of Apr 14, 2025) | 7,753 common shares; <1% of outstanding | |
| Shares outstanding (record date) | 53,742,014 (Apr 14, 2025) | |
| Stock options | None outstanding for Globe as of 12/31/2024 | |
| Unvested RSUs (12/31/2024) | 36,677 ($938,931 market value at $25.60) | |
| Unvested PSUs (12/31/2024) | 12,225 target ($312,960 at target, $25.60) | |
| RSU vesting schedule (shares) | 12,225 on 3/7/2025; 12,225 on 3/7/2026; 12,227 on 3/7/2027 | |
| PSU vesting timing | Q1 2027 (subject to EBITDA growth metric) | |
| Ownership guidelines | Required: 100% of salary; pro‑rata 25% in 2024; current ownership at 38% of salary as of Apr 1, 2025; full compliance deadline 2028 | |
| Hedging/pledging | Prohibited under Insider Trading Policy | |
| Clawback policy | Recoupment for restatement-triggered incentive comp (SEC/NYSE Rule 10D-1 compliant); no clawbacks in 2024 |
Insider selling pressure: Form 4 retrieval attempts not authorized; Proxy notes her initial Form 3 and a Form 4 for the March 7, 2024 equity grant were filed late (March 26, 2024) due to an administrative delay; no selling activity is disclosed in the proxy.
Employment Terms
| Term | Anne Globe (CMO) | Source |
|---|---|---|
| Employment start / term | Start Jan 29, 2024; open‑ended until termination/resignation | |
| Target bonus | 50% of salary | |
| Annual equity opportunity | Minimum $825,000 grant-date value (mix of RSUs/PSUs; 2024 was 75/25 RSU/PSU; 2025 to move to 50/50) | |
| Severance (no cause / good reason) | One month of base salary and target bonus per year of service (prorated); minimum 6 months; maximum 12 months | |
| Death/Disability | Accelerated vesting to reach 50% of aggregate granted RSUs and PSUs | |
| Change-in-control (termination without cause in connection) | Same severance as above; options/RSUs accelerate; PSUs vest and settle at target; if no 409A change-in-ownership, vesting follows original schedule | |
| Restrictive covenants | Customary non-compete and non-solicitation |
Performance & Track Record (role-specific highlights)
- 2024 qualitative rating at 120%: strengthened studio relationships, executed new/innovative IMAX brand marketing, expanded alternative content presence, and drove cost savings via in‑house digital/social creative; helped underpin IMAX’s 2024 TSR of 70.4%.
- Company performance drivers in 2024: installations above target (146 vs 140) and signings at target (130), offset by revenue and FCF misses and streaming technology bookings shortfall amid industry headwinds.
Compensation Structure Analysis
- Equity mix and risk: 2024 award mix for Globe skewed toward RSUs (75%) as a new hire; slated to shift to a 50/50 PSU/RSU mix in 2025 in line with broader executives, increasing performance leverage (EBITDA growth and relative TSR for PSUs).
- Pay-for-performance: 2024 quantitative factor paid at 74.7% and Globe’s qualitative factor at 120%, netting a 97.3% bonus outcome—aligned with mixed metric attainment but strong strategic contributions.
- Governance practices: robust clawback, anti-hedging/pledging, share ownership guidelines (Globe ahead of pro-rata requirement), no special one-time awards in 2024; say‑on‑pay support 72.5% in 2024.
Risk Indicators & Red Flags
- Section 16 compliance: administrative delay in filing initial Form 3 and one Form 4 (filed March 26, 2024).
- Hedging/pledging ban reduces alignment risk; no indications of option repricing or tax gross‑ups in 2024 NEO disclosures.
Compensation Peer Group and Shareholder Feedback
- Peer group includes media/tech names such as Dolby, Cinemark, Cineplex, Lions Gate, Ambarella, etc.; used to inform market practices, not to target a specific percentile.
- Shareholder outreach in 2024 covered holders representing ~45% of outstanding shares; say‑on‑pay approval improved to 72.5%.
Investment Implications
- Alignment and retention: Equity-heavy package with clear PSU metrics and strong ownership requirements; anti-hedging/pledging and clawback support alignment. Initial 2024 RSU tilt normal for a new hire, moving to 50/50 PSU/RSU in 2025 enhances performance linkage.
- Potential selling pressure windows: Time-based RSU vesting on 3/7/2025, 3/7/2026, 3/7/2027 may create liquidity events; PSUs cliff vest in Q1 2027 subject to performance. Monitor trading windows and Section 16 filings around these dates.
- Change-in-control protections: Double-trigger–like economics (severance plus equity acceleration/target settlement) are moderate; PSUs settle at target on CoC termination for Globe.
- Execution footprint: 2024 bonus outcome reflects disciplined pay-for-performance amid mixed metric attainment; qualitative over-delivery in marketing/brand initiatives aligns with IMAX’s growth vectors (installations/signings and alternative content).