Curet Myriam - Feb 10, 2024 Form 4 Insider Report for INTUITIVE SURGICAL INC (ISRG)

Role
EVP & Chief Medical Officer
Signature
By: Donna Spinola For: Curet, Myriam
Stock symbol
ISRG
Transactions as of
Feb 10, 2024
Transactions value $
-$324,304
Form type
4
Date filed
2/13/2024, 12:29 PM
Previous filing
Jan 29, 2024
Next filing
Feb 27, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ISRG Common Stock Options Exercise $0 +838 +281.21% $0.00 1.14K Feb 10, 2024 Direct F1
transaction ISRG Common Stock Tax liability -$139K -357 -31.43% $388.22 779 Feb 10, 2024 Direct F1
transaction ISRG Common Stock Sale -$186K -481 -61.75% $386.09 298 Feb 12, 2024 Direct F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ISRG Restricted Stock Units Options Exercise $0 -838 -25% $0.00 2.51K Feb 10, 2024 Common Stock 838 $0.00 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 RSUs vest 25% per year over a four year period, commencing on each anniversary of February 10, 2023. RSUs convert into common stock on the vest date on a one-for-one basis. 25% of the shares have been released and a portion of the shares were held back to cover the statutory tax withholding requirements. The net shares were deposited into the holders account.
F2 These shares were sold in accordance with a Trading Plan that complies with SEC Rule 10b5-1 and expires on August 12, 2024.
F3 Constitute restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of Issuer common stock upon vesting. 25% of the RSUs shall vest on each anniversary of February 10, 2023, subject to Reporting Person's continuous service to the Issuer through each such vesting date.