- Share this article on Facebook
- Share this article on Twitter
- Share this article on Email
- Show additional share options
- Share this article on Print
- Share this article on Comment
- Share this article on Whatsapp
- Share this article on Linkedin
- Share this article on Reddit
- Share this article on Pinit
- Share this article on Tumblr
TORONTO – Imax has extended the contract for CFO Joseph Sparacio into 2016.
The giant screen exhibitor in an SEC 8-K filing on Wednesday said the new contract was reached on May 21, 2014 and will run to May 13, 2016.
As part of the new agreement, Sparacio’s annual salary will jump to $475,000 in the first year of the contract, and increase to $500,000 for the second year, effective May 15, 2015.
Sparacio’s target bonus will remain at 35% of his annual base salary.
He will also receive an equity grant in the first quarter of 2015, valued at $650,000, comprising 25% stock options and 75% restricted share units.
Sparacio joined Imax in May 2007 as executive vp and was named CFO in August 2007.
He earlier served as senior vp and CFO for the programming company iN Demand and before that was a controller for Loews Cineplex Entertainment Corp.
Sign up for THR news straight to your inbox every day