LOEB GARY 4

What Happened Gary Loeb, EVP & Chief Legal and Compliance Officer of Intuitive Surgical (ISRG), was reported as receiving two grants of performance stock units (PSUs) on 2026-01-28 totaling 4,641 PSUs (2,543 + 2,098). Both entries are reported as derivative awards at $0.00 (code A), meaning no cash changed hands now — these are earned PSU awards that convert to shares only if and when they vest.

Key Details

• Transaction date: 2026-01-28; Form 4 filed 2026-01-30 (timely, within the required filing window).
• Grants: 2,543 PSUs (F1) and 2,098 PSUs (F2); reported price $0.00 (derivative award).
• Total PSUs awarded: 4,641.
• Shares owned after transaction: Not specified in the filing.
• Footnotes:
  • F1: PSUs originally granted 2/26/2024; performance criteria have been met and these PSUs will vest on 2/26/2027, subject to continuous service through that date.
  • F2: PSUs originally granted 2/28/2023; performance criteria have been met and these PSUs will vest on 2/28/2026, subject to continuous service through that date.
• Transaction code: A = Award/Grant. No 10b5-1, tax-withholding, or sale noted.

Context PSUs are derivative awards tied to performance goals; they do not represent shares until they vest and convert. These filings report that performance targets were achieved (the awards were earned), but vesting remains conditioned on future dates and continued employment — so this is not an immediate share purchase or sale.