Lippis Daniel J.

Across 39 Form 4 filings, Lippis Daniel J., CVP of TAVR at Edwards Lifesciences (EW), has executed a consistent pattern of option exercises paired with same-day open-market sales. The total sell value across all transactions reached approximately $1.24 million, with zero open-market purchases recorded. The recent activity, spanning February through July 2026, shows eight open-market sales (coded "S") ranging from roughly $1,600 to $87,000, with the largest single sale of $87,004.46 occurring on March 11, 2026. These sales were consistently matched with option exercises (coded "M") of equal or near-equal value, such as the May 4 transaction where a $60,382.58 exercise accompanied an $85,575.62 sale. The transaction structure reveals a mechanical, recurring rhythm rather than opportunistic timing. Each sale is paired with an option exercise at the same value, suggesting the disposition of shares acquired through equity compensation. The pattern is further reinforced by periodic tax-withholding transactions (coded "F"), including a $35,882.86 withholding on July 7, 2026, and a $34,464.96 withholding on February 22, 2026. Two equity awards (coded "A") with zero value were recorded on May 7, 2026, indicating new grants that will likely follow the same exercise-and-sell cycle in future quarters. The data shows no buying bias whatsoever—every discretionary transaction is a sale, and the only non-sale events are automatic withholdings or compensation grants. The most recent trades, including a $56,762.30 sale on July 10, 2026, continue the established cadence of quarterly option exercises followed by immediate disposition. This pattern is typical of an executive converting vested equity into cash, with the consistent pairing of "M" and "S" codes suggesting a pre-arranged selling program rather than market-timing decisions. The total absence of open-market purchases across all 39 filings indicates a clear, one-directional disposition strategy.