GUTHART GARY S 4
4 · INTUITIVE SURGICAL INC · Filed Jan 28, 2026
Research Summary
AI-generated summary of this filing
Intuitive Surgical Director Gary Guthart Exercises Options and Sells Shares
What Happened
- Gary S. Guthart, a director of Intuitive Surgical (ISRG), exercised 25,500 non‑statutory stock options and acquired 25,500 shares by paying $174.26 per share (total cost $4,443,546). On the same day (Jan 27, 2026) he sold a total of 27,300 shares in multiple open‑market transactions for aggregate proceeds of $14,475,672. The filing also shows a derivative conversion entry of 25,500 shares reported at $0.00 reflecting the option conversion.
Key Details
- Transaction date: 2026-01-27 (reported 2026-01-28; timely filing).
- Exercise: 25,500 shares acquired at $174.26 each — $4,443,546 total (code M).
- Sales: 24,500 shares at weighted avg $530.10 (proceeds $12,987,403), 1,400 shares at $531.53 ($744,140), and 1,400 shares at $531.52 ($744,129) — total sale proceeds $14,475,672 (codes S).
- Sale prices were reported as weighted averages; underlying trades ranged roughly $525.51–$534.00 across the blocks (see footnotes for detailed price ranges).
- Filing notes the open‑market sales were made pursuant to a Rule 10b5‑1 trading plan that expires April 28, 2026 (footnote F1).
- Shares owned after the transaction are not stated in the excerpt of the filing.
Context
- This was an option exercise combined with immediate open‑market sales; the filing shows both the option conversion and the subsequent sales. Exercising options requires cash outlay (here ~$4.44M); the subsequent sales generated roughly $14.48M in proceeds. Sales executed under a 10b5‑1 plan are often pre‑arranged and may be routine rather than an ad‑hoc signal about company prospects.
Insider Transaction Report
Form 4
GUTHART GARY S
Director
Transactions
- Exercise/Conversion
Common Stock
[F1]2026-01-27$174.26/sh+25,500$4,443,546→ 28,194 total - Sale
Common Stock
[F1][F2]2026-01-27$530.10/sh−24,500$12,987,403→ 3,694 total - Sale
Common Stock
[F1][F3]2026-01-27$531.53/sh−1,400$744,140→ 15,720 total(indirect: By Trust) - Sale
Common Stock
[F1][F4]2026-01-27$531.52/sh−1,400$744,129→ 15,720 total(indirect: By Trust) - Exercise/Conversion
Non-Qualified Stock Option (right to buy)
[F1][F5]2026-01-27−25,500→ 0 totalExercise: $174.26Exp: 2028-08-15→ Common Stock (25,500 underlying)
Holdings
- 1,231,890(indirect: By Trust)
Common Stock
Footnotes (5)
- [F1]The transaction took place in accordance with a Trading Plan that complies with SEC Rule 10b5-1 and expires on April 28, 2026.
- [F2]The price reported in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $525.51 to $534.00 as follows: 2,500 shares sold at $525.51 to $525.71; 280 shares sold at $526.94 to $527.41; 2,252 shares sold at $528.23 to $529.18; 9,860 shares sold at $529.27 to $530.27; 3,475 shares sold at $530.29 to $531.22; 1,589 shares sold at $531.37 to $532.24; 3,704 shares sold at $532.53 to $533.41; and 840 shares sold at $533.82 to $534.00. 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.
- [F3]The price reported in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $529.77 to $534.00 as follows: 520 shares sold at $529.77 to $530.61; 298 shares sold at $530.98 to $531.87; 302 shares sold at $532.05 to $532.61; and 280 shares sold at $533.82 to $534.00. 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.
- [F4]The price reported in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $529.77 to $534.00 as follows: 520 shares sold at $529.77 to $530.61; 360 shares sold at $530.98 to $531.86; 240 shares sold at $532.05 to $532.61; and 280 shares sold at $533.82 to $534.00. 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.
- [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.
Signature
By: Stephanie Lim-Ignacio For: Guthart, Gary S|2026-01-28