IMAX CORP — Director's Dealing 2011

May 12, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: IMAX CORP (IMAX)
CIK: 0000921582
Period of Report: 2011-05-10

Reporting Person: OREILLY LARRY (Exec VP Theatre Development)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-05-10	common shares	C	14000	$6.86	Acquired	19000	Direct
2011-05-10	common shares	C	6250	$2.87	Acquired	25250	Direct
2011-05-10	common shares	C	2500	$15.88	Acquired	27750	Direct
2011-05-10	common shares	S	22750	$35.02	Disposed	5000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-05-10	stock options (to buy)	$6.86	C	14000	Disposed	2014-12-31	common shares (14000)	Direct
2011-05-10	stock options (to buy)	$2.87	C	6250	Disposed	2015-12-16	common shares (6250)	Direct
2011-05-10	stock options (to buy)	$15.88	C	2500	Disposed	2017-03-12	common shares (2500)	Direct

Footnotes

F1: The stock options were exercisable in two installments: 6,000 on December 31, 2009 and 8,000 on December 31, 2010.

F2: The stock options were exercisable in two installments: 2,500 on Decemeber 16, 2009 and 3,750 on December 16, 2010.