Robert DeSantis - 10 May 2024 Form 4 Insider Report for INTUITIVE SURGICAL INC (ISRG)

Role
EVP & Chief Strategy & Corp Op
Signature
By: Donna Spinola For: DeSantis, Robert
Issuer symbol
ISRG
Transactions as of
10 May 2024
Net transactions value
-$187,216
Form type
4
Filing time
14 May 2024, 16:57:44 UTC
Previous filing
30 Apr 2024
Next filing
30 May 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ISRG Common Stock Options Exercise $36,560 +120 +2.2% $304.67 5,627 10 May 2024 Direct F1
transaction ISRG Common Stock Sale $46,266 -120 -2.1% $385.55 5,507 10 May 2024 Direct F1
transaction ISRG Common Stock Options Exercise $27,297 +119 +2.2% $229.39 5,626 10 May 2024 Direct F1
transaction ISRG Common Stock Sale $45,880 -119 -2.1% $385.55 5,507 10 May 2024 Direct F1
transaction ISRG Common Stock Options Exercise $0 +360 +6.5% $0.000000 5,867 11 May 2024 Direct F2
transaction ISRG Common Stock Tax liability $64,579 -167 -2.8% $386.70 5,700 11 May 2024 Direct F2
transaction ISRG Common Stock Options Exercise $16,173 +90 +1.6% $179.70 5,790 13 May 2024 Direct F1
transaction ISRG Common Stock Sale $35,024 -90 -1.6% $389.16 5,700 13 May 2024 Direct F1
transaction ISRG Common Stock Sale $75,497 -194 -3.4% $389.16 5,506 13 May 2024 Direct F1

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 Non-Qualified Stock Option (right to buy) Options Exercise $0 -90 -100% $0.000000* 0 13 May 2024 Common Stock 90 $179.70 Direct F1, F3
transaction ISRG Non-Qualified Stock Option (right to buy) Options Exercise $0 -119 -2.9% $0.000000 3,951 10 May 2024 Common Stock 119 $229.39 Direct F1, F4
transaction ISRG Non-Qualified Stock Option (right to buy) Options Exercise $0 -120 -2.9% $0.000000 3,950 10 May 2024 Common Stock 120 $304.67 Direct F1, F5
transaction ISRG Restricted Stock Units Options Exercise $0 -360 -100% $0.000000* 0 11 May 2024 Common Stock 360 $0.000000 Direct F2, F6
* 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 These shares were sold in accordance with a Trading Plan that complies with SEC Rule 10b5-1 and expires on December 9, 2024.
F2 RSUs vest 25% per year over a four year period, commencing on the first anniversary of the grant date. 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.
F3 Non-statutory stock option granted pursuant to the 2010 Incentive Award Plan. The grant vests 25% on the first anniversary of the date of grant and monthly thereafter, over a four year period of time.
F4 12.5% of the shares subject to the option vest on the six-month anniversary measured from February 10, 2023, and 1/48th of the total number of shares vest in forty-two (42) successive and equal monthly installments thereafter, subject to Reporting Person's continuous service to the Issuer through each such vesting date.
F5 7/48th of the shares subject to the option vest on the one-month anniversary measured from August 10, 2023, and 1/48th of the total number of shares vest in forty-one (41) successive and equal monthly installments thereafter, subject to Reporting Person's continuous service to the Issuer through each such vesting date.
F6 Each RSU granted represents a contingent right to receive one share of Intuitive Surgical common stock. The grant vests 25% on the first anniversary of the date of grant and annually thereafter, over a four year period.