Company: ISRG
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0001035267-25-000098
Chunk: 18

Company: INTUITIVE SURGICAL INC
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 18
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 or President for serving on our Board in addition to their regular employee compensation.

The Compensation Committee, consisting solely of independent directors, has the primary responsibility for reviewing and considering any changes to our director compensation program. Our Board determines the form and amount of director compensation after reviewing the committee’s recommendation.

The Compensation Committee generally reviews total compensation of our non-employee directors every year and evaluates the appropriate level and form of their compensation. In making its recommendations, the committee considers the amount of time our non-employee directors expend, as well as the skill level required of members of our Board in fulfilling their duties. It also considers the Company’s financial performance, general market conditions, and advice from its independent compensation consultant (Aon), including the independent analysis of our director compensation program that is updated on a biennial basis. As part of this analysis, the compensation consultant reviews and analyzes competitive market practices in director compensation as represented by the companies in our compensation peer group. The analysis also examines how director compensation levels, practices, and design features compare to the constituent members of the compensation peer group, which is the same peer group used as a reference when setting executive compensation (refer to the “Competitive Positioning” portion of the CD&A section of this Proxy Statement). The committee also considers the extent to which our Board’s compensation practices align with the interests of our stockholders.

Our Board reviews the Compensation Committee’s recommendations and then determines the form and amount of compensation for our non-employee directors. In January 2024, based on the Compensation Committee's recommendation, the Board approved a change to the 2024 equity compensation to non-employee directors to grant all equity compensation in the form of restricted stock unit awards (“RSUs”). This change eliminated stock option grants and was made in alignment with the overall Company strategy on equity compensation and similar changes to our executive compensation program. Further details on our 2024 director compensation program are provided below.

In January 2025, the Board approved a compensation program for our non-employee directors for 2025 that is similar to the programs described below for 2024.

#### Annual Cash Compensation
We provide cash compensation through retainers for Board and committee service, as well as separate retainers to the chairs and members of our Board committees. Compensation in this manner simplifies the administration of our program and creates greater equality in rewarding service on committees of our Board. The committee and committee chair retainers compensate directors for the additional responsibilities and time commitments involved with those positions.

The non-employee directors received the following cash compensation during