KIIL HARRY SKIP 4: 30,568 shares of MDT ($2,845,269)

Our Take

→Kiil's $2.8M exercise is modest relative to his total holdings and follows the standard post-earnings liquidation pattern Medtronic executives have maintained for years. The timing—exercising rather than holding—suggests confidence in current valuations, but the sale size implies he's taking profits rather than doubling down on conviction. For a company navigating structural headwinds in cardiac surgery and hospital equipment placement, routine option exercises tell us less than whether insiders are accumulating or divesting at these levels.