Form 4: Toro VP Carpenter Receives Equity Grants

Kevin N Carpenter, VP of Global Operations & Supply Chain at The Toro Company, was granted 1,802 restricted stock units and 5,116 non-qualified stock options on December 22, 2025.

Summary

• Kevin N Carpenter, VP, Global Ops & Supply Chain at The Toro Company (TTC), received new equity awards.
• On December 22, 2025, Carpenter was granted 1,802 Restricted Stock Units (RSUs).
• These RSUs will vest in three equal annual installments, commencing on the first anniversary of December 22, 2025.
• Also on December 22, 2025, Carpenter was granted 5,116 non-qualified stock options with an exercise price of $78.47.
• These stock options will vest in three equal annual installments, commencing on the first anniversary of December 22, 2025, and expire on December 22, 2035.
• Carpenter beneficially owns 8,388.81 shares of common stock directly and 1.052 shares indirectly through The Toro Company Retirement Plan.
• Additionally, Carpenter holds 7,165.997 Restricted Stock Units from a prior grant, which are set to vest in full on January 23, 2027.

Sentiment

Score: 6

Explanation: The filing reports routine executive compensation in the form of equity grants, which is a neutral to slightly positive event as it aligns executive interests with shareholders and aids retention. No significant positive or negative financial news for the company is present.

Positives

• The equity grants align executive compensation with shareholder interests, incentivizing long-term performance.
• The multi-year vesting schedules for both RSUs and stock options promote executive retention.

Future Outlook

The vesting schedules for the newly granted equity awards extend through December 22, 2028, and for a prior RSU grant through January 23, 2027, indicating a long-term incentive structure for the executive.

Industry Context

Executive equity grants are a standard component of compensation packages across most industries, particularly in publicly traded companies, designed to align management incentives with long-term shareholder value creation. The specific structure and size of these grants are typical for a Vice President-level executive at a company like The Toro Company.

Related Party Transactions

• Kevin N Carpenter, an officer of The Toro Company, received equity grants from the company, which constitutes a related party transaction as part of his compensation.

Stakeholder Impact

• Shareholders: Potential positive impact through increased alignment of executive incentives with long-term company performance and shareholder value.
• Management: Direct positive impact through increased equity ownership and potential future compensation.

Next Steps

• The granted Restricted Stock Units will vest in three equal annual installments starting December 22, 2026.
• The granted Non-Qualified Stock Options will vest in three equal annual installments starting December 22, 2026.
• Existing Restricted Stock Units (7,165.997) will vest in full on January 23, 2027.

Key Dates

Keywords

Toro Company, TTC, Kevin Carpenter, Form 4, Insider Transaction, Restricted Stock Units, Stock Options, Executive Compensation, Equity Grant, VP Global Operations, Supply Chain