Company: ISRG
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0001035267-25-000098
Chunk: 45

Company: INTUITIVE SURGICAL INC
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 45
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  6,868 |     |      |  4,310 |     |                                                           | — |     |      | — |     |      | 12,928 |     |                                                               |  4,120 |     |      |  6,868 |     |      |  8,619 |
| Brian E. Miller, Ph.D.(2) |     |                                                        |  2,746 |     |      |  6,487 |     |  N/A |        |     |                                                           | — |     |      | — |     |  N/A |        |     |                                                               |  2,746 |     |      |  6,487 |     |  N/A |        |

(1) The equity awards granted to Mr. Rosa in 2023 include additional equity grants of RSUs, stock options, and PSUs on June 10, 2023, in connection with his promotion to President of the Company in May 2023.

(2) The equity awards granted to Dr. Miller in 2023 are not included, as Dr. Miller was not an NEO in 2023.

The terms of the 2025 PSUs granted to our NEOs are similar to the terms of the 2024 PSU Program described below, except that the Company’s Relative TSR metric has been replaced with a Relative Adjusted Operating Margin Percentage metric. The Compensation Committee made this change, after gaining valuable insight from shareholders as part of our ongoing engagement process, with the intention to incentivize management to drive strong execution performance that balances growth and profitability.

NEO Equity Award Grants as a Percentage of Total Equity Award Grants

Equity is an important part of our compensation package to employees company-wide and allows us to attract and retain critical talent in a very competitive labor market. The total equity awards granted to our NEOs remain at a small percentage relative to the total equity awards granted to our employees company-wide for the last ten years.

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For 2015 through 2024, the percentage of NEO equity award grants relative to total equity award grants were as follows:

Equity Award Grant Policies

The Compensation Committee reviews and approves annual equity award grants to our executive officers, including our NEOs, and Dr. Guthart’s equity award is ratified by the independent members of the full Board. From 2020 to 2023, RSUs and PSUs were granted on the last trading day of February each year. Beginning in 2024, the