Curet Myriam 4

What Happened

• Myriam Curet, Executive Vice President & Chief Medical Officer of Intuitive Surgical, reported a mix of transactions around February 27–28, 2026. She sold 2,345 shares in an open‑market transaction on 2026-02-27 at $499.71 per share for proceeds of $1,171,820. On 2026-02-28 she exercised/converted vested equity awards (PSUs/RSUs) resulting in acquisition entries for 1,002 and 8,378 shares and related tax‑withholding dispositions of 497 shares ($250,244) and 4,155 shares ($2,092,084). Total cash proceeds shown on the Form 4 equal about $3.51 million. Overall this filing reflects vested award conversions and routine sales/withholdings rather than a new open‑market purchase.

Key Details

• Transaction dates and amounts:
  • 2026-02-27: Open‑market sale — 2,345 shares @ $499.71 = $1,171,820 (code S).
  • 2026-02-28: Exercise/conversion of derivatives — 1,002 and 8,378 shares acquired (code M; $0 exercise price shown because these are equity award conversions).
  • 2026-02-28: Tax withholding / payment of exercise price or tax liability — 497 shares @ $503.51 = $250,244 and 4,155 shares @ $503.51 = $2,092,084 (code F).
  • Some derivative entries (M) also show dispositions at $0 reflecting the conversion/settlement mechanics of the awards.
• Shares owned after the reported transactions: Not stated in the provided filing details.
• Notable footnotes:
  • F1: The 2/27 open‑market sale was executed under a Rule 10b5‑1 trading plan that expires July 29, 2026.
  • F2/F5: RSUs vest 25% annually over four years and convert one‑for‑one into common stock on the vest date.
  • F3: PSUs granted 2/28/2023 vested (performance targets met) and vested on 2/28/2026 subject to continued service.
  • F4: The F‑coded transactions represent shares withheld to cover taxes on the PSU settlement.
• Filing timeliness: No late filing flag indicated in the provided information.

Context

• These transactions appear to be primarily award vesting and routine tax withholding, plus a prearranged sale under a 10b5‑1 plan. For retail investors, sales driven by tax withholding or trading plans are usually administrative/routine rather than a direct expression of new confidence or concern about the company. The M (exercise/conversion) and F (tax withholding) codes show the awards vested and were converted to common stock, with some shares withheld to satisfy tax obligations and some sold under the trading plan.