Intuitive Surgical (ISRG) EVP logs PSU grant, RSU vesting and tax share offsets
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Intuitive Surgical executive Myriam Curet, EVP & Chief Medical Officer, reported several equity-related transactions in company stock and units. She received a grant of 2,793 performance stock units tied to performance goals that vest on February 28, 2026, three years after the original grant date.
Previously granted restricted stock units were converted into common shares as they vested, including 3,052 and 1,602 RSUs that settled at no cash exercise price. Related common shares are held indirectly by a trust. To satisfy statutory tax withholding, the trust delivered 1,514 and 795 shares at a price of $506.17 per share, with remaining net shares deposited into the holder’s account.
Positive
- None.
Negative
- None.
Insider Trade Summary
4,654 shares exercised/converted
Mixed
7 txns
Insider
Curet Myriam
Role
EVP & Chief Medical Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Performance Stock Units - 2-28-2023 | 2,793 | $0.00 | -- |
| Exercise | Restricted Stock Units - 2-26-2024 | 3,052 | $0.00 | -- |
| Exercise | Restricted Stock Units - 2-26-2025 | 1,602 | $0.00 | -- |
| Exercise | Common Stock | 3,052 | $0.00 | -- |
| Tax Withholding | Common Stock | 1,514 | $506.17 | $766K |
| Exercise | Common Stock | 1,602 | $0.00 | -- |
| Tax Withholding | Common Stock | 795 | $506.17 | $402K |
Holdings After Transaction:
Performance Stock Units - 2-28-2023 — 8,378 shares (Direct);
Restricted Stock Units - 2-26-2024 — 3,053 shares (Direct);
Restricted Stock Units - 2-26-2025 — 0 shares (Direct);
Common Stock — 3,461 shares (Indirect, by Trust)
Footnotes (1)
- RSUs vest 33% per year over a three year period. RSUs convert into common stock on the vest date on a one-for-one basis. 33% of the shares have been released and a portion of the shares were held back to cover the statutory tax withholding requirements. The net shares were deposited into the holders account. RSUs vest 100% on the first anniversary of the date of grant. RSUs convert into common stock on the vest date on a one-for-one basis. 100% of the shares have been released and a portion of the shares were held back to cover the statutory tax withholding requirements. The net shares were deposited into the holders account. Represents performance stock units ("PSUs") initially granted to the Reporting Person on February 28, 2023 subject to achievement of certain performance metrics. The performance criteria for the PSUs reported herein have been achieved, as determined by the Compensation Committee of the Issuer. The PSUs reported herein vest on February 28, 2026, the third anniversary of the grant date, subject to Reporting Person's continuous service to the Issuer through each such vesting date. Each Restricted Stock Unit, granted pursuant to the 2010 Employee Stock Option Plan, represents a contingent right to receive one share of Intuitive Surgical common stock. The grant vests 33% on the first anniversary of the date of grant and annually thereafter, over a three year period of time. Each RSU granted represents a contingent right to receive one share of Intuitive Surgical common stock. The grant vests 100% on the first anniversary of the date of grant.
FAQ
What insider transactions did ISRG executive Myriam Curet report?
Myriam Curet reported new performance stock unit awards and vesting of restricted stock units that converted into Intuitive Surgical common shares. Some shares were withheld to cover statutory tax obligations, with the remaining net shares deposited into an account held indirectly through a trust.
How many performance stock units did Myriam Curet receive at Intuitive Surgical (ISRG)?
She received a grant of 2,793 performance stock units, initially awarded on February 28, 2023. These units are subject to performance criteria and vest on February 28, 2026, contingent on her continued service with Intuitive Surgical through the three-year vesting period.
When do the reported Intuitive Surgical (ISRG) performance stock units vest?
The performance stock units vest on February 28, 2026, the third anniversary of the original February 28, 2023 grant. Vesting occurs after the Compensation Committee confirmed performance criteria were achieved and is also conditioned on Myriam Curet’s continuous service through the vesting date.
What happened to the Intuitive Surgical (ISRG) restricted stock units in this filing?
Restricted stock units converted into Intuitive Surgical common stock on their vesting dates on a one-for-one basis. Grants vest either 33% annually over three years or 100% after one year, with a portion of released shares used to satisfy statutory tax withholding obligations.