SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report: June 25, 2007
(Date of earliest event reported)
INTUITIVE SURGICAL, INC.
(exact name of registrant as specified in its charter)
| Delaware | 000-30713 | 77-0416458 | ||
| (State or other jurisdiction of incorporation or organization) |
Commission File Number | (I.R.S. Employer Identification No.) |
950 Kifer Road
Sunnyvale, California 94086
(Address of Principal executive offices, including zip code)
(408) 523-2100
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
ITEM 5.02(e): Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Fiscal 2007 Base Salary Increase
On June 19, 2007, the Compensation Committee of Intuitive Surgical, Inc. (the “Company”) approved a base salary increase for certain Named Executive Officers (NEOs). This increase is effective on July 1, 2007. The amount of the base salary increase and the resulting annual base salary for each NEO are set forth in the table below.
| Name |
Title |
Increase in Annual Base Salary | New Annual Base Salary | |||||
| Lonnie M. Smith |
President, Chief Executive Officer and Chairman of the Board of Directors | $ | 40,000 | $ | 485,000 | |||
| Marshall L. Mohr |
Senior Vice President and Chief Financial Officer | $ | 20,000 | $ | 320,000 | |||
| Gary S. Guthart |
Executive Vice President and Chief Operating Officer | $ | 50,000 | $ | 410,000 | |||
| Jerry J. McNamara |
Senior Vice President, Worldwide Sales | $ | 40,000 | $ | 320,000 | |||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| INTUITIVE SURGICAL, INC. | ||||
| Date: June 25, 2007 | By | /s/ Marshall L. Mohr | ||
| Name: | Marshall L. Mohr | |||
| Title: | Senior Vice President and Chief Financial Officer | |||