Form 4: Toro Co. Group VP Edric Funk Increases Stake with Recent Stock Purchases

Edric C. Funk, Group VP of Golf, Grounds & Irrigation at The Toro Company, has increased his beneficial ownership in the company through recent open market purchases and plan acquisitions totaling 531 shares of common stock.

Summary

• Edric C. Funk, Group VP, Golf, Grounds & Irrigation at The Toro Company (TTC), reported multiple acquisitions of company common stock.
• On June 9, 2025, Mr. Funk directly purchased 100 shares of common stock at $69.64 per share and an additional 15 shares at $69.655 per share.
• On June 10, 2025, Mr. Funk indirectly acquired 416 shares of common stock at $71.72 per share through The Toro Company Retirement Plan.
• These transactions increased his direct beneficial ownership of common stock to 476.241 shares and indirect ownership through the Retirement Plan to 5,969.53 shares.
• His total beneficial ownership across all forms, including direct common stock, indirect common stock (Retirement Plan, Roth IRA, Health Savings Account), Performance Share Units, and Restricted Stock Units, now stands at approximately 9,042.109 units.
• The report also details acquisitions through dividend reinvestment features in the Retirement Plan (65.265 shares from contributions, 30.412 net shares from dividend reinvestment), Roth IRA (0.722 shares from dividend reinvestment), and Performance Share Units (8.075 units from dividend reinvestment).
• An administrative error from a previous Form 4 filed on March 13, 2025, regarding 0.009 shares of common stock in a Roth IRA, has been corrected in this filing.

Sentiment

Score: 8

Explanation: The sentiment is positive due to significant insider buying, which typically signals management's confidence in the company's future performance and valuation. The acquisitions through various plans further reinforce a long-term commitment.

Positives

• Insider purchases by a Group VP signal confidence in the company's future prospects and current valuation.
• The increase in beneficial ownership aligns management's interests more closely with those of shareholders.
• Acquisitions through company plans and dividend reinvestment demonstrate a long-term commitment to the company and participation in employee benefit programs.

Industry Context

This Form 4 filing details an insider transaction, which is specific to the individual's holdings and does not directly reflect broader industry trends or competitive dynamics. However, insider purchases can be interpreted by the market as a signal of management's confidence in the company's future performance within its industry.

Stakeholder Impact

• Shareholders may view the insider purchases as a positive indicator of management's belief in the company's value, potentially increasing investor confidence.
• Employees, particularly those participating in similar equity plans, may see this as a reaffirmation of the company's long-term stability and growth potential.

Next Steps

• Continued vesting of Restricted Stock Units in three equal annual installments commencing on the first anniversary of the November 1, 2022 grant date.

Key Dates

Recommendation

Keywords

Toro Co, TTC, SEC Form 4, insider trading, stock purchase, beneficial ownership, executive compensation, equity acquisition, Edric C Funk, corporate governance, investment, shares, common stock, retirement plan, restricted stock units, performance share units