Form 4: Intuitive Surgical EVP Sells Shares Under 10b5-1 Plan

Intuitive Surgical's EVP & Chief Medical Officer, Myriam Curet, executed sales of common stock totaling 7,687 shares through option exercises under a Rule 10b5-1 plan.

Summary

• Myriam Curet, EVP & Chief Medical Officer of Intuitive Surgical Inc. (ISRG), reported transactions involving common stock on October 28 and 29, 2025.
• On October 28, 2025, Curet acquired 5,030 shares of common stock by exercising non-qualified stock options at an exercise price of $242.3367 per share and simultaneously disposed of these 5,030 shares at a weighted average sale price of $548.4254 per share.
• On the same date, Curet acquired 1,153 shares by exercising options at $229.39 per share and sold them at a weighted average price of $548.4254 per share.
• Also on October 28, 2025, Curet acquired 1,379 shares by exercising options at $208.9 per share and sold them at a weighted average price of $548.4254 per share.
• On October 29, 2025, Curet acquired 125 shares by exercising options at $208.9 per share and sold them at $543 per share.
• All reported transactions were conducted pursuant to a Rule 10b5-1 trading plan, which is set to expire on July 29, 2026.
• Following these transactions, Curet directly owns 353 shares of common stock and indirectly owns 353 shares through a Trust.

Sentiment

Score: 5

Explanation: The filing reports routine insider stock transactions under a pre-arranged 10b5-1 trading plan, which is a neutral event for company performance.

Positives

• The officer realized significant gains by exercising stock options at lower prices and selling shares at substantially higher market prices. For example, 5,030 shares were acquired at $242.3367 and sold at $548.4254.
• Transactions were executed under a pre-arranged Rule 10b5-1 trading plan, indicating planned and transparent insider activity rather than opportunistic trading.

Negatives

• The sale of a substantial number of shares by a key executive could be interpreted by some investors as a lack of confidence, although this is mitigated by the pre-arranged 10b5-1 plan.

Risks

• No specific company-level risks are disclosed in this Form 4. The document focuses solely on insider trading activity.

Future Outlook

No forward-looking statements or guidance are provided in this Form 4.

Industry Context

This Form 4 reports an individual insider's stock transactions and does not provide information relevant to broader industry trends or competitors.

Related Party Transactions

• Indirect beneficial ownership of 353 shares by a Trust is noted.

Stakeholder Impact

• Shareholders: May view the sale of shares by a key executive with mixed sentiment, though the 10b5-1 plan mitigates concerns about opportunistic selling.
• Employees: No direct impact on employees is indicated by this filing.
• Customers: No direct impact on customers is indicated by this filing.
• Suppliers: No direct impact on suppliers is indicated by this filing.
• Creditors: No direct impact on creditors is indicated by this filing.

Next Steps

• The Rule 10b5-1 trading plan is set to expire on July 29, 2026.

Key Dates

Recommendation

The Form 4 details pre-scheduled insider stock sales and option exercises, which are routine and do not provide new fundamental information about the company's operational performance or future prospects to warrant a change in investment recommendation.

Keywords

Intuitive Surgical, ISRG, Form 4, Insider Trading, Stock Option Exercise, Share Sale, Myriam Curet, EVP, Chief Medical Officer, 10b5-1 Plan