Intuitive Surgical insider 10b5-1 sale after option exercise

Rhea-AI Filing Summary

Intuitive Surgical (ISRG): Director transaction disclosed. Director Craig H. Barratt exercised a non-qualified stock option for 2,193 shares at an exercise price of $71.3233 on 10/24/2025 and sold 2,193 shares at $548.01 the same day under a Rule 10b5-1 trading plan.

Following the transactions, direct common stock holdings were 0 shares, and indirect holdings were 27,198 shares held by a trust. The filing also reports 750 derivative securities (options) remaining beneficially owned directly. The trading plan complies with Rule 10b5-1 and expires on April 29, 2026. The option was granted under the Non-Employee Directors' Stock Option Plan with vesting as noted in the plan terms.

Insights

Insider transactions analyst

Routine 10b5-1 option exercise and same-day sale; neutral.

The disclosure shows a standard option exercise (code M) of 2,193 shares at an exercise price of $71.3233, followed by a same-day sale (code S) of 2,193 shares at $548.01. These were executed under a Rule 10b5-1 plan, indicating pre-set instructions.

Post-transaction, direct common stock was 0 shares, with 27,198 shares held indirectly by a trust and 750 options remaining directly owned. Such activity is administrative and does not by itself signal a change in business fundamentals.

Insider Trade Summary

Net Seller: 2,193 shares ($1,201,786)

Net Sell 4 txns

Insider BARRATT CRAIG H

Role Director

Sold 2,193 shs ($1.20M)

Type	Security	Shares	Price	Value
Exercise	Non-Qualified Stock Option (right to buy)	2,193	$0.00	--
Exercise	Common Stock	2,193	$71.3233	$156K
Sale	Common Stock	2,193	$548.01	$1.20M
holding	Common Stock	--	--	--

Holdings After Transaction: Non-Qualified Stock Option (right to buy) — 750 shares (Direct); Common Stock — 2,193 shares (Direct); Common Stock — 27,198 shares (Indirect, by Trust)

Footnotes (1)

1. The transaction took place in accordance with a Trading Plan that complies with SEC Rule 10b5-1 and expires on April 29, 2026. Non-statutory stock option granted pursuant to the Non-Employee Directors' Stock Option Plan. Option shall vest 100% one year after the date of grant or at the next Shareholders Meeting, whichever should take place first, provided that vesting will cease on termination of the Directors service to the Company.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 10/27/2025 - 03:56 PM Learn about SEC filing dates

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).

X

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^*

BARRATT CRAIG H

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
10/24/2025

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
Common Stock	10/24/2025		M(1)		2,193	A	$71.3233	2,193	D
Common Stock	10/24/2025		S(1)		2,193	D	$548.01	0	D
Common Stock								27,198	I	by Trust

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
Non-Qualified Stock Option (right to buy)	$71.3233	10/24/2025		M(1)			2,193	(2)	04/21/2026	Common Stock	2,193	$0.0	750	D

Explanation of Responses:

1. The transaction took place in accordance with a Trading Plan that complies with SEC Rule 10b5-1 and expires on April 29, 2026.

2. Non-statutory stock option granted pursuant to the Non-Employee Directors' Stock Option Plan. Option shall vest 100% one year after the date of grant or at the next Shareholders Meeting, whichever should take place first, provided that vesting will cease on termination of the Directors service to the Company.

	By: Stephanie Lim-Ignacio For: Barratt, Craig H.	10/27/2025
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did ISRG director Craig H. Barratt report on Form 4?

An option exercise of 2,193 shares at $71.3233 and a same-day sale of 2,193 shares at $548.01 on 10/24/2025.

Was the ISRG trade under a Rule 10b5-1 plan?

Yes. The transactions were executed under a Rule 10b5-1 trading plan that expires on April 29, 2026.

What are the director’s ISRG holdings after the transactions?

Direct common stock: 0 shares; Indirect (by trust): 27,198 shares; Derivative securities (options) remaining: 750.

What was the option exercise price and size?

Exercise of 2,193 shares at an exercise price of $71.3233 per share.

What plan granted the option reported by ISRG’s director?

A non-statutory stock option under the Non-Employee Directors' Stock Option Plan, with vesting terms per the plan.

What were the sale proceeds per share for the ISRG transaction?

The reported sale price per share was $548.01.