Kenneth Weissman
IMAXAbout Kenneth Weissman
Kenneth I. Weissman serves as Deputy General Counsel and Corporate Secretary at IMAX; he joined IMAX in October 2011 and has held his current title since July 2022. He is 53 years old as of April 25, 2025, with prior roles including Senior Vice President, Legal Affairs; Corporate Secretary; and Chief Compliance Officer; earlier, he was Senior Corporate Counsel at Sony and an associate at Skadden and Testa, and clerked for Chief Judge Judith S. Kaye; he is a member of the ABA and ACC . Company performance context: IMAX revenues and EBITDA are shown below to frame pay-for-performance alignment; TSR was not disclosed for Weissman specifically.
| Metric (USD) | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Revenues | $292.323M* | $366.110M* | $342.522M* |
| EBITDA | $37.099M* | $94.197M* | $89.229M* |
*Values retrieved from S&P Global.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| IMAX | Vice President, Legal Affairs | Oct 2011 onwards | Entry into IMAX legal leadership; foundational governance role |
| IMAX | Senior Vice President, Legal Affairs | 2015–Dec 2017 | Expanded legal oversight; senior executive status |
| IMAX | Corporate Secretary; Chief Compliance Officer | Dec 2017–Jul 2022 | Formal corporate governance and compliance leadership; signed AGM notices/proxies |
| IMAX | Deputy General Counsel & Corporate Secretary | Jul 2022–present | Current role; central authority for legal pre-clearance and governance documents |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Sony Corporation of America | Senior Corporate Counsel | 2004–2011 | Corporate legal leadership at large multinational |
| Skadden, Arps, Slate, Meagher & Flom (NY) | Associate | Prior to 2004 | Top-tier M&A/corporate training |
| Testa, Hurwitz & Thibeault (Boston) | Associate | Prior to 2004 | Corporate transactions exposure |
| New York Court of Appeals | Law Clerk to Chief Judge Judith S. Kaye | Prior to private practice | High-level judicial experience |
| TCL‑IMAX Entertainment Co., Limited (JV) | Corporate Secretary to Board | As of 2021 proxy | Governance interface with strategic JV partner |
| Professional Associations | Member, American Bar Association; Association of Corporate Counsel | Ongoing | Professional ethics and legal standards adherence |
Fixed Compensation
- IMAX’s Compensation Discussion & Analysis for 2024 covers Named Executive Officers (NEOs: CEO, CFO, CMO, CLO, President Global Theatres) and does not disclose individual base salary/bonus details for the Deputy General Counsel; Weissman is not listed among NEOs .
- Share ownership guidelines exist for executives and were expanded in 2025; NEO compliance levels are disclosed, but specific guideline and compliance data for Weissman are not provided .
- Insider Trading Policy requires Section 16 directors/officers to obtain pre‑clearance for trades; hedging and pledging of company securities are prohibited, supporting alignment and reducing forced‑sale risk .
Performance Compensation
Company long‑term incentive plan mechanics (framework applicable to senior executives; individual Weissman targets/payouts not disclosed):
| Component | Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| PSUs (example: CEO plan) | Adjusted EBITDA | 60% | Not disclosed for Weissman | Not disclosed for Weissman | Not disclosed for Weissman | Performance-based; CEO PSUs vest based on EBITDA/TSR mix |
| PSUs (example: CEO plan) | Relative TSR | 40% | Not disclosed for Weissman | Not disclosed for Weissman | Not disclosed for Weissman | Performance-based; settlement varies with TSR |
| RSUs | Time-based | N/A | Not disclosed for Weissman | Not disclosed for Weissman | Not disclosed for Weissman | Typically 3 equal annual installments (CEO example) |
Additional plan context:
- IMAX did not grant stock options in 2024; outstanding options remain from prior years. Equity plan inventory includes 5,032,849 securities to be issued upon exercise of outstanding options/warrants/rights (weighted average exercise price $26.27) and 1,870,888 PSUs tied to Adjusted EBITDA and TSR targets (assuming full achievement), indicating performance‑linked equity is a core lever .
Equity Ownership & Alignment
- Security ownership table discloses directors and NEOs; Weissman’s individual beneficial ownership is not separately reported, implying he is not a reporting NEO/director for that table .
- Hedging and pledging are prohibited under IMAX’s Insider Trading Policy, reducing misalignment risks and margin‑call selling pressures .
- Share ownership guidelines apply to executives and were broadened in 2025; NEOs met guidelines as of April 1, 2025; specific compliance status for Weissman is not disclosed .
Employment Terms
- Individual employment agreement, severance, and change‑in‑control terms for Weissman are not disclosed in proxies or Item 5.02 filings reviewed; CD&A focuses on NEOs only .
- Company policies include clawback provisions covering cash and equity incentives based on financial measures (including TSR), aligned with Dodd‑Frank Section 954; no clawback actions were required in 2024 .
- Option grant timing policies avoid granting near material disclosures; options are not currently used in annual grants, reducing timing‑related risk .
Performance & Track Record
- As Corporate Secretary, Weissman signed multiple annual meeting notices/proxy materials (2021–2025), evidencing consistent governance execution and board process stewardship .
- Career continuity: joined IMAX in 2011 and advanced through senior legal/governance roles, culminating in Deputy General Counsel (July 2022) .
Investment Implications
- Pay-for-performance visibility for Weissman is limited because he is not a NEO; however, firm‑wide LTI emphasizes Adjusted EBITDA and relative TSR via PSUs, suggesting incentive alignment with value creation at the senior leadership level .
- Governance risk appears contained: hedging/pledging bans, trade pre‑clearance, and clawback policy reduce misalignment and opportunistic trading risks for covered officers .
- Retention risk looks moderate given long tenure and progression through key governance roles; absence of disclosed individual severance/CIC terms limits clarity on exit economics, but broader company policies and expanded ownership requirements support retention incentives .
- Trading signals: no Form 4 analysis is available in the proxy set; insider selling pressure is mitigated by the anti‑pledging/hedging policy, but specific ownership/vesting cadence for Weissman is undisclosed .