The disparity in the CEO’s compensation vs last year appears to be due to a judgement call that resulted in no option awards, which came to $3.2M last year. In a year when IMAX shares were up 18.7%, Gelfond‘s package included $750,000 salary, $1M bonus, $1.7M change in pension value, and $126,275 in other compensation. The “other” category included $26,865 for personal use of a company car, according to the company proxy filed at the SEC today. Gelfond’s package was 2.3 times the median for IMAX’s four other top execs, comfortably below the level (3 times) that worries analysts and academics who are suspicious of concentrated CEO power. Last year Gelfond’s pay was 4.3 times higher than his colleagues’ which put him on our out-of-whack list. Shareholders at the annual meeting, to be held June 11 in New York, can register their opinion about this year’s compensation in an advisory say-on-pay vote.