Jonathan Fischer
IMAXAbout Jonathan Fischer
Jonathan Fischer is Chief Content Officer and Executive Vice President at IMAX, appointed in October 2024; age 50; A.B. in Economics from Stanford University. He oversees IMAX’s content strategy across Hollywood and international films, documentaries, live events, and immersive experiences spanning music, gaming, and sports . During 2024, IMAX delivered 70.4% total shareholder return; three-year average annual Adjusted EBITDA growth of 24.0%; fiscal 2024 total revenue of $352.2 million versus a $386.0 million target; and Adjusted EBITDA of $138.9 million versus a $146.5 million target, reflecting strong performance with some headwinds (China box office softness, strike-impacted release slates) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Netflix | VP, Content Strategy & Analysis, Global Films | Dec 2019–Feb 2023 | Led global film content strategy and analytics across slate decisions |
| Illumination Entertainment | Chief Operating Officer | 2018–2019 | Oversaw operations supporting franchise-driven animation content |
| New Regency Entertainment | Chief Operating Officer | 2012–2017 | Ran operations for a major film studio with premium content slate |
| Groundswell Productions | President | 2008–2012 | Led indie production company focusing on film projects |
| Intrepid Pictures, LLC | Chief Financial Officer | 2005–2008 | Led finance at independent production company |
| Universal Pictures; The Walt Disney Company | Business development and strategic planning roles | n/a | Worked on BD/strategy initiatives at major studios |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| The Meg Foundation | Board Member | n/a | Non-profit focused on empowering families to manage pain and medical anxiety |
Fixed Compensation
- IMAX’s proxy does not disclose Fischer’s base salary or bonus targets; he is an executive officer but not listed among the 2024 NEOs in compensation tables .
- Company framework: annual base salaries reviewed against role scope, experience, and market; NEO target bonus weighting: CEO 80% quantitative/20% qualitative; other NEOs 50%/50% .
Performance Compensation
- IMAX applies a pay-for-performance design using quantitative annual bonus metrics and PSU long-term metrics; metrics applied consistently to eligible participants including NEOs. Individual bonus and equity grant details for Fischer are not disclosed; tables below reflect company-level design and 2024 outcomes .
2024 Annual Bonus Scorecard Outcomes
| Metric | Weight | Threshold | Target | Maximum | Actual | Payout (% of target) |
|---|---|---|---|---|---|---|
| Total Revenue ($mm) | 25% | 328.1 | 386.0 | 463.2 | 352.2 | 71% |
| Total Adjusted EBITDA ($mm) | 19% | 124.5 | 146.5 | 175.8 | 138.9 | 83% |
| Free Cash Flow before Growth CAPEX ($mm) | 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 Technology Bookings ($mm) | 6% | 12.8 | 15.0 | 18.0 | 3.2 | 0% |
| Quantitative Element Factor | — | — | — | — | — | 74.7% |
Long-term PSUs — 2024 Grant Design (Three-year performance period ending 12/31/2026)
| Metric | Threshold | Target | Maximum | Vesting Scale (% of target) |
|---|---|---|---|---|
| Avg Annual Adjusted EBITDA Growth | 5.0% | 12.5% | ≥20% | 50% at threshold; 100% at target; 175% at max |
| Relative TSR Percentile (custom peer group) | 25th | 50th | ≥90th | 30% at threshold; 100% at target; 150% at max |
- 2022–2024 PSU Vesting Outcome (company-wide): Earned at 154.4% of target; actual EBITDA growth 24.0% and TSR ~79th percentile vs Russell 2000 constituents .
Equity Ownership & Alignment
- Form 3 filing: Fischer filed his initial Form 3 late upon becoming an executive officer on October 21, 2024; filed November 6, 2024 (administrative delay acknowledged) .
- Hedging and pledging: IMAX’s Insider Trading Policy prohibits hedging and pledging of Company securities, enhancing alignment and reducing downside protection behaviors .
- Share ownership guidelines: IMAX enforces executive ownership guidelines with a four-year compliance horizon; as of April 1, 2025, all NEOs were compliant. Fischer’s specific guideline status is not disclosed .
Employment Terms
- Change-in-control equity treatment (plan-level): No single-trigger vesting; unvested equity vests if employment is terminated by IMAX without cause or by the participant for good reason within 24 months following a change-in-control. If successor does not assume awards post-CIC, awards vest immediately .
- Service Factor: Upon attaining age ≥55 with ≥10 years of service (or as otherwise determined), unvested equity continues to vest on the original schedule after resignation/termination without cause, with PSUs remaining subject to original performance conditions .
- Clawback: IMAX maintains a clawback policy covering cash and equity incentives earned on financial reporting measures (including TSR), compliant with SEC/NYSE rules; no clawback actions were required in 2024 .
Investment Implications
- Compensation-performance alignment: IMAX’s incentive architecture ties pay to Adjusted EBITDA growth and relative TSR, with robust quantitative annual metrics; this supports shareholder alignment for senior executives responsible for content strategy, even though Fischer’s individual grants and payouts are not disclosed yet .
- Retention risk: Absent publicly disclosed severance/offer terms for Fischer, retention visibility is limited; IMAX’s Service Factor and double-trigger CIC protections at the plan level mitigate forced turnover risk for long-tenured executives but may not yet apply to Fischer given tenure since Oct 2024 .
- Trading signals: No disclosed pledging/hedging and no insider sales reported in proxy for Fischer; monitor future Forms 4 for grant vesting/sales cadence and upcoming proxies for his compensation inclusion, which could reveal RSU/PSU schedules and potential selling pressure around vest dates .
- Governance feedback: Say-on-pay support improved to 72.5% in 2024 and the company integrated shareholder input (e.g., adding Free Cash Flow before Growth CAPEX to bonuses), reducing pay-related overhang risk .