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  4. [Form 4] INTUITIVE SURGICAL INC Insider Trading Activity

ISRG insider Gary Guthart exercises options and executes planned sales

Filing Impact
(Very High)
Filing Sentiment
(Very Negative)
Form Type
4

Rhea-AI Filing Summary

Intuitive Surgical (ISRG) insider Gary S. Guthart, Executive Chair and Director, reported insider transactions on 10/24/2025. He exercised 36,000 non-qualified stock options at an exercise price of $109.4856 and sold shares the same day under a prearranged plan.

Dispositions included 28,800 shares at a weighted average price of $547.5571, plus additional sales of 1,400 shares at $546.3499 and 1,400 shares at $546.184. The filing states the trades were made under a Rule 10b5-1 trading plan that expires on April 28, 2026, with sale price ranges and undertakings to provide full breakdowns upon request.

Positive

  • None.

Negative

  • None.
Insider GUTHART GARY S
Role Executive Chair of the Board o
Sold 31,600 shs ($17.30M)
Approx. gross sale proceeds $17.30M
Approx. exercise cost $3.94M
Type Security Shares Price Value
Exercise Non-Qualified Stock Option (right to buy) 36,000 $0.00 $0.00
Exercise Common Stock 36,000 $109.4856 $3.94M
Sale Common Stock 28,800 $547.5571 $15.77M
Sale Common Stock 1,400 $546.3499 $765K
Sale Common Stock 1,400 $546.184 $765K
holding Common Stock -- -- --
Holdings After Transaction: Non-Qualified Stock Option (right to buy) — 0 shares (Direct); Common Stock — 27,027 shares (Direct); Common Stock — 17,120 shares (Indirect, Trust FBO Daughter); Common Stock — 17,120 shares (Indirect, Trust FBO Son); Common Stock — 1,204,863 shares (Indirect, by Trust)
Footnotes (5)
  1. F1. The transaction took place in accordance with a Trading Plan that complies with SEC Rule 10b5-1 and expires on April 28, 2026.
  2. F2. The price reported in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $541.76 to $550.16 as follows: 800 shares sold at $541.76 to $542.59; 1,000 shares sold at $542.89 to $543.22; 2,563 shares sold at $544 to $545; 1,600 shares sold at $545.33 to $546.29; 2,770 shares sold at $546.34 to $547.19; 7,383 shares sold at $547.35 to $548.31; 9,068 shares sold at $548.36 to $549.35; and 3,616 shares sold at $549.485 to $550.16. The Reporting Person hereby undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote.
  3. F3. The price reported in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $542.74 to $548.48 as follows: 100 shares sold at $542.74; 205 shares sold at $543.97 to $544.45; 250 shares sold at $545.06 to $545.94; 200 shares sold at $546.46 to $546.75; and 645 shares sold at $547.49 to $548.48. The Reporting Person hereby undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote.
  4. F4. The price reported in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $542.16 to $548.45 as follows: 190 shares sold at $542.16 to $542.98; 150 shares sold at $543.79 to $544.30; 190 shares sold at $545.00 to $545.33; 292 shares sold at $546.34 to $547.20; and 578 shares sold at $547.51 to $548.45. The Reporting Person hereby undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote.
  5. F5. Non-statutory stock option granted pursuant to the 2010 Incentive Award Plan. Option shall vest 7/48 one month after the date of grant and 1/48 each month thereafter.

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Form 4 Insider Transactions: What Each Field Means →

FAQ

What did ISRG’s Gary S. Guthart report on Form 4?
He exercised 36,000 non-qualified stock options at $109.4856 and sold shares the same day across multiple transactions.

Were the ISRG trades made under a 10b5-1 plan?
Yes. The filing states the transactions were executed under a Rule 10b5-1 trading plan that expires on April 28, 2026.

What shares were sold and at what prices?
Sales included 28,800 shares at a weighted average of $547.5571, plus 1,400 at $546.3499 and 1,400 at $546.184.

What is the option exercise price reported?
The non-qualified stock options were exercised at $109.4856 per share.

What role does Gary S. Guthart hold at ISRG?
He is Executive Chair of the Board and a Director.

When did the transactions occur?
All reported transactions occurred on 10/24/2025.
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*
GUTHART GARY S
(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)
Executive Chair of the Board o
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) 36,000 A $109.4856 55,827 D
Common Stock 10/24/2025 S(1) 28,800 D $547.5571(2) 27,027 D
Common Stock 10/24/2025 S(1) 1,400 D $546.3499(3) 17,120 I Trust FBO Daughter
Common Stock 10/24/2025 S(1) 1,400 D $546.184(4) 17,120 I Trust FBO Son
Common Stock 1,204,863 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) $109.4856 10/24/2025 M(1) 36,000 (5) 08/15/2027 Common Stock 36,000 $0.0 0 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 28, 2026.
2. The price reported in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $541.76 to $550.16 as follows: 800 shares sold at $541.76 to $542.59; 1,000 shares sold at $542.89 to $543.22; 2,563 shares sold at $544 to $545; 1,600 shares sold at $545.33 to $546.29; 2,770 shares sold at $546.34 to $547.19; 7,383 shares sold at $547.35 to $548.31; 9,068 shares sold at $548.36 to $549.35; and 3,616 shares sold at $549.485 to $550.16. The Reporting Person hereby undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote.
3. The price reported in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $542.74 to $548.48 as follows: 100 shares sold at $542.74; 205 shares sold at $543.97 to $544.45; 250 shares sold at $545.06 to $545.94; 200 shares sold at $546.46 to $546.75; and 645 shares sold at $547.49 to $548.48. The Reporting Person hereby undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote.
4. The price reported in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $542.16 to $548.45 as follows: 190 shares sold at $542.16 to $542.98; 150 shares sold at $543.79 to $544.30; 190 shares sold at $545.00 to $545.33; 292 shares sold at $546.34 to $547.20; and 578 shares sold at $547.51 to $548.45. The Reporting Person hereby undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote.
5. Non-statutory stock option granted pursuant to the 2010 Incentive Award Plan. Option shall vest 7/48 one month after the date of grant and 1/48 each month thereafter.
By: Stephanie Lim-Ignacio For: Guthart, Gary S 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.

Source: View Original Filing on SEC EDGAR