Form 4: Intuitive Surgical Executive Exercises and Sells Stock Options Under 10b5-1 Plan
SEC Form 4 Filing
Robert DeSantis, EVP & Chief Strategy & Corp Op at Intuitive Surgical, executed stock options and sold shares under a pre-arranged 10b5-1 trading plan.
Summary
- Robert DeSantis, an executive at Intuitive Surgical, engaged in multiple transactions involving the company's common stock on April 25, 2025, April 28, 2025, and April 29, 2025.
- These transactions involved the exercise of non-qualified stock options and the subsequent sale of the acquired shares.
- The exercises and sales were conducted under a pre-arranged trading plan that complies with SEC Rule 10b5-1.
- The prices at which the options were exercised ranged from $208.9 to $304.67.
- The sales of the common stock were executed at a price of $512.9 to $515.91.
- Following these transactions, DeSantis directly owns 5,224 shares of Intuitive Surgical common stock.
- DeSantis also holds various non-qualified stock options with different exercise prices and expiration dates, totaling 11,284 options.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the transactions are part of a pre-planned trading strategy and do not necessarily reflect a change in the executive's outlook on the company.
Positives
- The transactions were executed under a pre-arranged 10b5-1 trading plan, which is a legal and transparent way for insiders to trade company stock.
Industry Context
Executive stock transactions are a normal part of corporate compensation and are often viewed in the context of overall company performance and insider sentiment.
Comparison to Industry Standards
- Executive compensation practices, including stock option grants and exercises, are common across the medical device industry.
- Companies like Stryker, Medtronic, and Johnson & Johnson also utilize stock options as part of their executive compensation packages.
- The vesting schedules and exercise prices are generally in line with industry standards for incentivizing long-term performance.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in the number of outstanding shares.
- The impact on employees, customers, suppliers, and creditors is likely to be negligible.
Key Dates
| Date | Description |
|---|---|
| 02/10/2023 | Date used to measure vesting for some stock options. |
| 08/10/2023 | Date used to measure vesting for some stock options. |
| 08/28/2029 | Expiration date for some non-qualified stock options. |
| 02/27/2030 | Expiration date for some non-qualified stock options. |
| 08/09/2030 | Expiration date for some non-qualified stock options. |
| 04/25/2025 | Date of multiple transactions involving stock option exercises and sales. |
| 04/28/2025 | Date of multiple transactions involving stock option exercises and sales. |
| 04/29/2025 | Date of multiple transactions involving stock option exercises and sales. |
| 12/12/2025 | Expiration date of the 10b5-1 trading plan. |
Keywords
Form 4, Intuitive Surgical, ISRG, Robert DeSantis, Stock Options, 10b5-1 Plan, Insider Trading
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