Intuitive Surgical Reports New Employee Option Grants for May 2017
May 12 2017 - 4:48PM
Intuitive Surgical, Inc. (Nasdaq:ISRG) today reported that equity
awards, approved by the Compensation Committee of the Board of
Directors, which consists entirely of Independent Directors, were
made to 115 new employees. Pursuant to NASDAQ Marketplace Rule
5635(c)(4), the equity awards were granted under the Intuitive
Surgical, Inc. 2009 Commencement Incentive Plan, which the Board of
Directors of Intuitive Surgical, Inc. adopted for the granting of
equity awards to new employees. In accordance with NASDAQ rules,
these grants were made under an equity incentive plan without
shareholder approval. NASDAQ rules require a public announcement of
equity awards to be made under this type of plan. 115
employees were granted a combination of Restricted Stock Units
(RSUs) and Stock Options to purchase an aggregate of 11,301 shares
of the Company's common stock; 5,712 of the shares granted were
Stock Options and 5,589 of the shares granted were RSUs. Both the
RSUs and Stock Options vest over four years. The Stock
Options expire in 10 years assuming continued employment. No
officers received any award under this plan. The exercise price for
the Stock Options granted is $850.54 which was the closing price of
Intuitive Surgical, Inc.'s common stock on the NASDAQ Global Market
on May 5, 2017. The Company's policy is to issue RSUs and Stock
Option grants to new employees, where equity makes sense, on the
fifth business day of every calendar month.
About Intuitive Surgical, Inc.
Intuitive Surgical, Inc. (Nasdaq:ISRG),
headquartered in Sunnyvale, California, is the global technology
leader in robotic-assisted, minimally invasive surgery. Intuitive
Surgical develops, manufactures and markets robotic technologies
designed to improve clinical outcomes and help patients return more
quickly to active and productive lives. The Company's mission is to
extend the benefits of minimally invasive surgery to the broadest
possible base of patients. Intuitive Surgical - Taking surgery
beyond the limits of the human hand™.
About the da Vinci® Surgical System
The da Vinci® System is a breakthrough surgical
platform designed to enable complex surgery using a minimally
invasive approach. The da Vinci® System consists of an ergonomic
surgeon console, a patient-side cart with four interactive robotic
arms, a high-performance vision system and proprietary EndoWrist®
instruments. Powered by state-of-the-art robotic and computer
technology, the da Vinci® System is designed to scale, filter and
seamlessly translate the surgeon's hand movements into more precise
movements of the EndoWrist® instruments. The net result is an
intuitive interface with breakthrough surgical capabilities. By
providing surgeons with superior visualization, enhanced dexterity,
greater precision and ergonomic comfort, the da Vinci® Surgical
System makes it possible for more surgeons to perform minimally
invasive procedures involving complex dissection or reconstruction.
This ultimately has the potential to raise the standard of care for
complex surgeries, translating into numerous potential patient
benefits, including less pain, a shorter recovery and quicker
return to normal daily activities.
Intuitive®, da Vinci®, da Vinci S®, da Vinci® Si™,
InSite® and EndoWrist® are trademarks or registered trademarks of
Intuitive Surgical, Inc.
For more information, please visit the company's
web site at www.intuitivesurgical.com.
CONTACT: Intuitive Surgical, Inc.
Investor Relations
408-523-2161
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