Form 4: Intuitive Surgical EVP Curet Reports Stock Transactions

Intuitive Surgical's EVP & Chief Medical Officer, Myriam Curet, reported a series of stock acquisitions and dispositions, including RSU vesting and option exercises, executed under a 10b5-1 trading plan.

Summary

• Myriam Curet, EVP & Chief Medical Officer of Intuitive Surgical Inc. (ISRG), reported multiple transactions involving common stock and derivative securities.
• On February 10, 2026, 838 shares of common stock were acquired through the vesting of Restricted Stock Units (RSUs) at a price of $0.0.
• Concurrently, 417 shares were disposed of at $492.84 to cover statutory tax withholding requirements related to the RSU vesting.
• Also on February 10, 2026, 105 shares of common stock were acquired by exercising Non-Qualified Stock Options at an exercise price of $229.39.
• Following the option exercise, 105 shares were sold at $494.65.
• On February 11, 2026, an additional 421 shares of common stock were sold at $494.96.
• All reported transactions on February 10 and 11, 2026, were conducted under a Rule 10b5-1 trading plan, which is set to expire on July 29, 2026.
• Following these transactions, Myriam Curet beneficially owns 409 shares indirectly by Trust.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, reflecting routine executive compensation vesting and subsequent sales under a pre-arranged 10b5-1 plan, which is a common and expected occurrence for public company executives.

Positives

• Vesting of 838 Restricted Stock Units (RSUs) on February 10, 2026, indicates compensation realization.
• Exercise of 105 Non-Qualified Stock Options on February 10, 2026, suggests the options were in-the-money, allowing the officer to acquire shares at a lower price ($229.39) than the market sale price ($494.65).

Negatives

• Disposition of 417 shares at $492.84 to cover tax withholding reduces direct beneficial ownership.
• Sale of 105 shares at $494.65 and 421 shares at $494.96 indicates a reduction in the officer's direct equity stake, although these were pre-planned under a 10b5-1 plan.

Future Outlook

The Rule 10b5-1 trading plan, under which these transactions occurred, is scheduled to expire on July 29, 2026. This indicates that further pre-scheduled transactions under this specific plan will cease after this date.

Industry Context

StockSavvy.ai notes that these transactions represent routine insider activity, specifically the vesting of equity compensation and subsequent sales, often for tax purposes or portfolio diversification, executed under a pre-arranged 10b5-1 trading plan. Such plans are common among executives to avoid accusations of trading on material non-public information.

Comparison to Industry Standards

• These transactions are standard for executive compensation packages in the medical device and technology sectors, where Restricted Stock Units (RSUs) and stock options are common forms of long-term incentives.
• The use of a Rule 10b5-1 plan aligns with best practices for corporate governance, similar to executives at companies like Medtronic (MDT) or Johnson & Johnson (JNJ) who also utilize such plans for their equity compensation.

Corporate Governance

Related Party Transactions

• The transactions involve an executive (Myriam Curet) and the company's securities, which are inherently related-party dealings in the context of executive compensation and insider trading rules.

Stakeholder Impact

• Shareholders: Minimal direct impact as these are routine insider transactions. The sales represent a slight reduction in insider ownership, but the overall impact on the company's valuation or strategic direction is negligible.

Next Steps

• The Rule 10b5-1 trading plan will continue to govern any further pre-scheduled transactions until its expiration on July 29, 2026.
• Future RSU vesting events are scheduled annually on February 10, 2023 anniversaries, with 25% vesting per year over a four-year period.
• Remaining stock options will continue to vest according to the schedule: 12.5% on the six-month anniversary from February 10, 2023, and 1/48th monthly thereafter.

Key Dates

Keywords

Intuitive Surgical, ISRG, Form 4, insider trading, stock options, Restricted Stock Units, RSU, 10b5-1 plan, executive compensation, beneficial ownership