LOEB GARY 4
4 · INTUITIVE SURGICAL INC · Filed Feb 27, 2026
Research Summary
AI-generated summary of this filing
Intuitive Surgical (ISRG) EVP Gary Loeb Receives Award, Sells Shares
What Happened Gary Loeb, EVP & Chief Legal and Compliance Officer at Intuitive Surgical (ISRG), had a combination of equity awards vest/convert on Feb 26, 2026. A total of 7,076 derivative shares (RSUs/PSUs) were recorded as acquired/converted at $0 per share. To satisfy tax withholding obligations, 1,212 shares were disposed at $506.17 per share, producing proceeds of $613,478. The net result was approximately 5,864 shares deposited into the holder’s account after withholdings.
Key Details
- Transaction date(s): Reported for 2026-02-26; Form filed 2026-02-27 (appears timely).
- Acquisitions: 7,076 shares from vesting/conversion of RSUs/PSUs (reported as $0 acquisition price).
- Disposals (tax withholding/sell-to-cover): 757 shares and 455 shares sold at $506.17 each, totaling $383,171 and $230,307 (combined $613,478).
- Net shares deposited: ~5,864 (7,076 acquired less 1,212 withheld/sold).
- Shares owned after transaction: Not reported in this Form 4.
- Footnotes: F1 notes RSUs vest 25% annually with shares converted one-for-one and a portion held back for tax withholding; F2 states the PSUs (granted 2/28/2023) met performance targets and vest on 2/28/2026; F3 reiterates RSU vesting schedule.
Context
- These entries reflect awards vesting/conversion (A/M codes) and routine tax-withholding dispositions (F code), not an open-market voluntary sale. Sell-to-cover to meet tax liabilities is common and does not necessarily indicate a change in insider sentiment.
- For derivatives: the filing shows conversion/exercise of derivative awards into common stock (no cash exercise price), followed by withholding of a portion of shares to cover taxes.
Insider Transaction Report
Form 4
LOEB GARY
EVP & Chief Legal and Complian
Transactions
- Exercise/Conversion
Common Stock
[F1]2026-02-26+1,526→ 5,230 total - Tax Payment
Common Stock
[F1]2026-02-26$506.17/sh−757$383,171→ 4,473 total - Exercise/Conversion
Common Stock
[F1]2026-02-26+916→ 5,389 total - Tax Payment
Common Stock
[F1]2026-02-26$506.17/sh−455$230,307→ 4,934 total - Award
Performance Stock Units - 2-28-2023
[F2]2026-02-26+1,050→ 3,148 totalExercise: $0.00→ Common Stock (1,050 underlying) - Exercise/Conversion
Restricted Stock Units - 2-26-2024
[F3]2026-02-26−1,526→ 3,052 totalExercise: $0.00→ Common Stock (1,526 underlying) - Exercise/Conversion
Restricted Stock Units - 2-26-2025
[F3]2026-02-26−916→ 2,746 totalExercise: $0.00→ Common Stock (916 underlying) - Award
Restricted Stock Units - 2-26-2026
[F3]2026-02-26+3,584→ 3,584 totalExercise: $0.00→ Common Stock (3,584 underlying)
Footnotes (3)
- [F1]RSUs vest 25% per year over a four year period, commencing on the first anniversary of the grant date. RSUs convert into common stock on the vest date on a one-for-one basis. 25% 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.
- [F2]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.
- [F3]Each RSU granted represents a contingent right to receive one share of Intuitive Surgical common stock. The grant vests 25% on the first anniversary of the date of grant and annually thereafter, over a four year period.
Signature
By: Stephanie Lim-Ignacio For: Loeb, Gary Howard|2026-02-27