Form 4: Intuitive Surgical CFO Jamie Samath Reports Stock Transactions
SEC Form 4 Filing
Jamie Samath, CFO of Intuitive Surgical, reports the vesting and subsequent sale of restricted stock units to cover tax obligations.
Summary
- On February 26, 2024, Jamie Samath, the Chief Financial Officer of Intuitive Surgical Inc. (ISRG), reported transactions involving the company's common stock and Restricted Stock Units (RSUs).
- Samath acquired 1,284 shares of common stock through the vesting of RSUs at a price of $0.00.
- Simultaneously, 459 shares were disposed of at a price of $389.77 to cover tax withholding requirements.
- Following these transactions, Samath directly owns 7,738 shares of common stock.
- Samath also directly owns 1,281 Restricted Stock Units.
- Additionally, Samath acquired 7,631 Restricted Stock Units on 02/26/2024.
- The RSUs vest 25% per year over a four-year period, commencing on the first anniversary of the grant date, and convert into common stock on a one-for-one basis.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Industry Context
This Form 4 filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the transactions of company insiders.
Comparison to Industry Standards
- Executive compensation packages often include stock options and restricted stock units to align management's interests with those of shareholders.
- The vesting schedule of 25% per year over four years is a standard practice for RSU grants.
- Sales of shares to cover tax obligations upon vesting are also common among executives receiving equity compensation.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they are related to executive compensation and tax obligations.
- The disclosure provides transparency to shareholders regarding executive stock ownership.
Key Dates
| Date | Description |
|---|---|
| 02/26/2024 | Date of stock transactions and RSU vesting/grant. |
| 02/26/2025 | First anniversary of RSU grant, marking the start of the vesting period. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.