Form 4: Intuitive Surgical VP Controller Sells Shares

Intuitive Surgical's VP Corporate Controller, Fredrik Widman, reported the exercise and sale of common stock and options under a Rule 10b5-1 trading plan.

Summary

• Fredrik Widman, VP Corporate Controller at Intuitive Surgical Inc. (ISRG), reported transactions involving the company's common stock and derivative securities.
• On November 5, 2025, Widman acquired 1,908 shares of common stock by exercising non-qualified stock options at a price of $76.9989 per share.
• Concurrently, 1,908 shares of common stock were disposed of at a price of $550 per share.
• Additionally, 159 shares of common stock were acquired through the exercise of non-qualified stock options at $59.4622 per share.
• Simultaneously, 159 shares of common stock were disposed of at $550 per share.
• All reported transactions were conducted in accordance with a pre-arranged Rule 10b5-1 trading plan, which is set to expire on May 21, 2026.
• Following these transactions, Fredrik Widman beneficially owns 473 shares of Intuitive Surgical common stock directly.

Sentiment

Score: 5

Explanation: The filing is a routine disclosure of insider transactions under a pre-arranged plan, which is generally neutral in sentiment. The profitable sale for the insider is a minor positive, but the overall impact on company sentiment is minimal.

Positives

• The transactions were executed under a Rule 10b5-1 trading plan, indicating pre-planned sales and reducing concerns about opportunistic insider trading.
• The sale price of $550 per share is significantly higher than the exercise prices of $76.9989 and $59.4622, indicating a profitable transaction for the insider.

Negatives

• An insider sale, even under a 10b5-1 plan, can sometimes be perceived negatively by the market, though the impact is often minimal for routine plan-based transactions.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: Provides transparency regarding executive stock ownership and trading activities, which can influence investor confidence. The sale itself is a routine event under a 10b5-1 plan, so direct impact is likely minimal.
• Employees: No direct impact mentioned.

Next Steps

• The Rule 10b5-1 trading plan will continue until its expiration on May 21, 2026, potentially involving further pre-scheduled transactions.

Key Dates

Keywords

Intuitive Surgical, ISRG, Form 4, Insider Trading, Stock Options, Rule 10b5-1, Executive Compensation, Fredrik Widman, Stock Sale, Beneficial Ownership