[Form 4] Intuitive Surgical Inc. Insider Trading Activity

Rhea-AI Filing Summary

ReTo Eco-Solutions, Inc. (RETO) has filed an amended Form 6-K to supply investors with the financial information required following its April 25, 2025 acquisition of MeinMalzeBier Holdings Limited.

The amendment adds two key exhibits:

• Exhibit 99.1: Audited financial statements of MeinMalzeBier for fiscal years ended 31 Dec 2024 and 2023.
• Exhibit 99.2: Unaudited pro forma condensed combined balance sheet (as of 31 Dec 2024) and income statement (FY 2024) showing RETO and MeinMalzeBier as if the transaction had closed earlier, prepared under Article 11 of Regulation S-X.

The Share Exchange, already closed on 25 Apr 2025, delivered 5,100 MeinMalzeBier ordinary shares to RETO in exchange for cash plus newly issued RETO Class A shares. No other terms were modified.

Management cautions that the pro forma data are illustrative and may differ materially from future results; numerous forward-looking risk factors are referenced. The filing is automatically incorporated by reference into RETO’s outstanding F-3 and S-8 registration statements, ensuring the new financials become part of those offerings.

Investor takeaway: The amended filing fulfils SEC requirements, provides historical audits of the acquired business and gives a first look at combined entity projections, enabling investors to start assessing acquisition accretion/dilution and balance-sheet impact once detailed numbers are reviewed in the exhibits.

Positive

• Regulatory compliance: RETO met the 71-day deadline by providing audited target statements and pro forma financials, reducing SEC scrutiny risk.
• Transaction finality: Confirms successful closing of MeinMalzeBier acquisition, adding a new operating segment and potential revenue stream.

Negative

• Lack of quantitative detail in narrative: No headline metrics such as purchase price, revenue contribution or EPS impact are disclosed outside the exhibits.
• Forward-looking uncertainty: Filing highlights that actual results may differ materially from pro forma projections, signalling integration and market risks.

Insights

M&A Specialist

TL;DR: Filing adds mandatory audited and pro forma financials, finalising disclosure for April acquisition; impact neutral pending numerical review.

The amended 6-K mainly cures a regulatory gap: it supplies MeinMalzeBier’s historical audits and pro forma schedules within the 71-day window. Completion of the share exchange has already been disclosed, so today’s value lies in transparency rather than new strategic moves. Without the exhibits’ figures, we can’t quantify accretion, leverage changes or purchase-price allocation. Nevertheless, compliance avoids potential SEC comment-letter delays that could hamper future capital-markets activity. Overall market impact is modest until analysts model the exhibit data.

Equity Analyst

TL;DR: Provides audited data of target and pro forma view—useful for valuation; no earnings guidance released; market reaction likely muted.

Investors now gain visibility into the acquired craft-beverage assets, but RETO has not released revenue, EBITDA or share-count effects within the narrative. The forward-looking caution underscores uncertainty about integration and industry conditions. Incorporation into Form F-3 and S-8 keeps shelf and incentive plans active, suggesting ongoing capital flexibility. Impact remains information-only until the numerical exhibits are digested.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Rosa David J.

(Last) (First) (Middle)

1020 KIFER ROAD

(Street)

SUNNYVALE CA 94086

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
INTUITIVE SURGICAL INC [ ISRG ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer (CEO)

3. Date of Earliest Transaction (Month/Day/Year)
07/10/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	$0.0	07/10/2025		A		7,640		(1)	(1)	Common Stock	7,640	$0.0	7,640	D

Explanation of Responses:

1. Each RSU granted represents a contingent right to receive one share of Intuitive Surgical common stock. The grant vests 25% on the first anniversary of the date of grant and annually thereafter, over a four year period.

	By: Donna Spinola For: Rosa, David J	07/10/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What did RETO (RETO) acquire in April 2025?

RETO purchased 5,100 ordinary shares of MeinMalzeBier Holdings Limited through a cash and Class A share exchange that closed on 25 Apr 2025.

Why did RETO file an amended Form 6-K/A?

To furnish audited financial statements of MeinMalzeBier (Exhibit 99.1) and unaudited pro forma combined financials (Exhibit 99.2) as required within 71 days of the original filing.

Where can investors find the financial impact of the MeinMalzeBier acquisition?

Detailed historical and pro forma figures are contained in Exhibits 99.1 and 99.2 attached to this 6-K/A.

Does the filing change any terms of the original share exchange agreement?

No. Apart from adding the required financial exhibits, the amended 6-K leaves the initial transaction terms unchanged.

Is this information incorporated into RETO’s existing registration statements?

Yes, the 6-K/A is automatically incorporated by reference into RETO’s Form F-3 and two Form S-8 registration statements.