Form 4: Toro Co Executive Converts Restricted Stock Units, Adjusts Holdings

Joanna M. Totsky, VP, General Counsel & Corporate Secretary of The Toro Company, converted restricted stock units into common stock and adjusted her direct holdings on June 20, 2025.

Summary

• Joanna M. Totsky, VP, General Counsel & Corporate Secretary of The Toro Company (TTC), acquired 4,770.394 shares of common stock on June 20, 2025, through the exercise of Restricted Stock Units (RSUs).
• The shares were valued at $69.47 per share at the time of the transaction.
• Following this acquisition, her direct beneficial ownership increased to 7,139.777 shares.
• Concurrently, 2,128 shares of common stock were disposed of at $69.47 per share, likely to cover tax obligations related to the RSU vesting.
• After both transactions, Ms. Totsky's direct beneficial ownership of TTC common stock stands at 5,011.777 shares.
• She also holds 1.018 shares indirectly through The Toro Company Retirement Plan, including 0.010 shares from dividend reinvestment.
• Ms. Totsky retains 4,770.398 unvested Restricted Stock Units.
• The RSUs vest in three equal annual installments, with the reported transaction on June 20, 2025, representing the vesting of the second installment from a grant made on June 20, 2023.

Sentiment

Score: 7

Explanation: The document reports a routine executive compensation event (RSU vesting and associated tax-related sale). While it shows an increase in direct shareholding from the vesting, a portion was sold for taxes. This is a neutral to slightly positive event as it reflects earned compensation and continued insider ownership.

Positives

• The conversion of Restricted Stock Units into common stock indicates a vesting event, which is a positive for the executive as it represents earned compensation.
• The executive continues to hold a significant number of shares directly and indirectly, aligning her interests with shareholders.

Negatives

• A portion of the acquired shares (2,128 shares) was disposed of, likely for tax withholding, which reduces the executive's direct shareholding.

Future Outlook

The document primarily reports past transactions and does not contain forward-looking statements or guidance regarding the company's future performance or strategic outlook. It does indicate future vesting of remaining RSUs.

Industry Context

This Form 4 filing details an executive's compensation-related stock transactions, which is a routine event for publicly traded companies. It does not provide broader industry context or trends.

Comparison to Industry Standards

• This document reports an individual executive's stock transactions, which are specific to their compensation structure and vesting schedule. It does not provide data for comparison to industry-wide financial benchmarks or competitor performance.

Stakeholder Impact

• Shareholders: The transaction reflects an executive's increased direct ownership, aligning management interests with shareholders, though a portion was sold for tax purposes.
• Employees: The vesting of RSUs is a standard component of executive compensation, demonstrating the company's compensation practices.

Next Steps

• Future vesting events for the remaining 4,770.398 Restricted Stock Units are expected based on the original grant terms.

Key Dates

Recommendation

Keywords

Toro Company, TTC, SEC Form 4, Insider Trading, Restricted Stock Units, RSU Conversion, Executive Compensation, Stock Ownership, Joanna M. Totsky