Form 4: Toro COO Edric Funk Reports Routine Stock Transactions

Toro Co's President & COO, Edric C. Funk, reported the acquisition of common stock through RSU vesting and subsequent disposition for tax withholding, alongside other beneficial ownership changes.

Summary

• Edric C. Funk, President & COO of The Toro Company (TTC), reported transactions involving common stock and restricted stock units (RSUs).
• On November 3, 2025, Mr. Funk acquired 771.81 shares of common stock at a price of $74.21 per share through the vesting and conversion of restricted stock units.
• Concurrently, 237 shares of common stock were disposed of at $74.21 per share to cover tax withholding obligations related to the RSU vesting.
• Following these transactions, Mr. Funk directly owns 856.051 shares of common stock and 1,479.121 performance share units.
• Indirect holdings include 280 shares in a Health Savings Account, 6,101.101 shares in the TTC Retirement Plan, and 245.344 shares in a Roth IRA.
• The Retirement Plan holdings increased by 25.305 net shares from contributions and 30.344 shares from dividend reinvestment (less administrative fees).
• The Roth IRA holdings increased by 1.240 shares from dividend reinvestment.
• Performance share units increased by 7.361 units due to dividend reinvestment in The Toro Company Deferred Compensation Plan for Officers.
• Mr. Funk also holds 18,510.504 restricted stock units directly, which represent a contingent right to receive one share of TTC common stock per unit.

Sentiment

Score: 5

Explanation: The sentiment is neutral as this Form 4 reports routine, expected insider transactions (RSU vesting, tax withholding, dividend reinvestment) that do not indicate any significant positive or negative operational or financial developments for the company.

Positives

• The vesting of 771.81 restricted stock units indicates the achievement of performance or time-based conditions, converting into common stock.
• Continued accumulation of shares through dividend reinvestment in various accounts (Retirement Plan, Roth IRA, Deferred Compensation Plan) demonstrates long-term commitment and growth of beneficial ownership.

Negatives

• The disposition of 237 shares of common stock was for tax withholding purposes, which reduces the direct beneficial ownership of common stock.

Future Outlook

This filing does not contain forward-looking statements or guidance regarding the company's future performance or strategic direction. It solely reports past insider transactions.

Industry Context

This Form 4 filing details routine insider transactions for an executive at The Toro Company. It does not provide information relevant to broader industry trends or competitive landscape analysis, as it focuses on individual stock ownership changes.

Stakeholder Impact

• Shareholders: These routine transactions have a minimal direct impact on the broader shareholder base, as they reflect standard executive compensation practices and personal investment decisions.
• Employees: The RSU vesting and dividend reinvestment activities are typical components of executive compensation and benefit plans, which may be similar to those offered to other employees, reinforcing standard corporate practices.

Next Steps

• Future vesting events for the remaining 18,510.504 restricted stock units will occur in three equal annual installments commencing on the first anniversary of their respective grant dates (November 1, 2022, and September 2, 2025).

Key Dates

Keywords

Toro Company, TTC, Edric C Funk, Form 4, Insider Trading, Restricted Stock Units, RSU Vesting, Common Stock, Beneficial Ownership, Officer Transactions, Dividend Reinvestment