Form 4: Intuitive Surgical SVP Mark Brosius Executes Stock Option and Sells Shares Under 10b5-1 Trading Plan

Mark Brosius, SVP & Chief Manufacturing and Supply Chain Officer at Intuitive Surgical, exercised stock options and sold shares of common stock under a pre-arranged 10b5-1 trading plan.

Summary

• On October 22, 2024, Mark Brosius, SVP & Chief Manufacturing and Supply Chain Officer at Intuitive Surgical Inc., exercised a non-qualified stock option to acquire 2,106 shares of common stock at a price of $76.9989 per share.
• Following the exercise of the option, Brosius sold 2,106 shares at $515, 22 shares at $515, 22 shares at $513.89 and 22 shares at $510.79.
• These transactions were executed under a pre-arranged trading plan that complies with SEC Rule 10b5-1 and expires on June 13, 2025.
• After these transactions, Brosius directly owns 229 shares of Intuitive Surgical common stock.
• The non-statutory stock option was granted pursuant to the 2010 Incentive Award Plan and vests over a period of 48 months.

Sentiment

Score: 5

Explanation: The document simply reports stock transactions by an executive under a pre-existing trading plan. It doesn't contain information that would significantly shift investor sentiment.

Future Outlook

The reporting person will continue to execute trades under the 10b5-1 trading plan until its expiration on June 13, 2025.

Industry Context

Executive stock transactions are a common occurrence in publicly traded companies. The use of 10b5-1 trading plans allows insiders to sell shares over time while avoiding concerns about insider trading.

Comparison to Industry Standards

• Executive compensation packages often include stock options as a way to align management's interests with those of shareholders.
• Trading plans under Rule 10b5-1 are a standard practice for corporate insiders to manage their stock holdings and comply with securities laws.
• The vesting schedule of the stock option (monthly over 48 months) is a typical vesting arrangement.

Key Dates