Form 4: Toro Co. Executive Angela C. Drake Reports Stock Transactions
SEC Form 4 Filing
Angela C. Drake, VP & CFO of Toro Co., reports acquisition and disposal of common stock and derivative securities.
Summary
- Angela C. Drake, VP & CFO of Toro Co. (TTC), filed a Form 4 detailing changes in beneficial ownership.
- On March 11, 2024, Drake acquired 2,629.907 shares of common stock at $88.69 per share through the Toro Company Retirement Plan.
- On the same date, Drake disposed of 1,332 shares of common stock at $88.69.
- Following these transactions, Drake directly owns 5,964.069 shares of common stock and indirectly owns 102.668 shares through The Toro Company Retirement Plan.
- Drake also owns 730.388 Performance Share Units and 5,260.828 Restricted Stock Units.
- 2,629.907 Restricted Stock Units vested on March 11, 2024.
- The restricted stock units vest in three equal annual installments starting March 10, 2023.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions by an executive. It doesn't inherently convey positive or negative sentiment.
Industry Context
Executive stock transactions are a normal part of corporate governance and are closely watched by investors for insights into management's perspective on the company's performance and future prospects. Form 4 filings are required by the SEC to ensure transparency.
Stakeholder Impact
- The transactions may be of interest to shareholders as they provide insight into executive compensation and ownership.
Key Dates
| Date | Description |
|---|---|
| 03/10/2023 | Grant date for restricted stock units, vesting in three equal annual installments commencing on the first anniversary of this date. |
| 03/11/2024 | Date of the reported transactions: acquisition and disposal of common stock, and vesting of restricted stock units. |
| 03/13/2024 | Date of signature for the Form 4 filing. |
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