Form 4: Toro VP Carpenter Reports Stock Award & Holdings

Toro Company's VP of Global Operations and Supply Chain, Kevin N Carpenter, reported the acquisition of common stock from a performance share award and related tax withholding.

Summary

• Kevin N Carpenter, VP, Global Ops & Supply Chain at The Toro Company (TTC), reported transactions on December 17, 2025.
• Carpenter acquired 643 shares of Common Stock at a price of $80.43 per share, resulting from the payout of a Performance Share Award for the Fiscal 2023 to Fiscal 2025 Performance Period.
• The Performance Share Award was approved by the Issuer's Compensation & Human Resources Committee on December 9, 2025, and was conditioned upon the Issuer's Fiscal 2025 financial results released on December 17, 2025.
• Concurrently, 197 shares of Common Stock were disposed of at $80.43 per share, likely for tax withholding purposes related to the award.
• Following these transactions, Carpenter directly beneficially owns 8,388.81 shares of Common Stock.
• Carpenter also indirectly owns 1.052 shares of Common Stock through The Toro Company Retirement Plan, which includes 0.021 shares acquired via dividend reinvestment since the last report.
• Additionally, Carpenter holds 7,165.997 Restricted Stock Units (RSUs), each representing a contingent right to receive one share of TTC common stock.
• These RSUs and related dividend equivalents are scheduled to vest in full on January 23, 2027, which is the third anniversary of their grant date.

Sentiment

Score: 5

Explanation: The filing is a routine report of insider transactions related to executive compensation, indicating neither overwhelmingly positive nor negative sentiment for the company's operational or financial performance.

Positives

• The payout of a Performance Share Award indicates that The Toro Company met specific performance targets for the Fiscal 2023-2025 period, reflecting positively on company performance and executive incentives.

Future Outlook

This Form 4 filing primarily reports past insider transactions and does not contain explicit forward-looking statements or guidance regarding the company's future performance or strategic direction, beyond the vesting schedule for restricted stock units.

Industry Context

This filing is a routine insider transaction report, common across all publicly traded companies, reflecting executive compensation and stock ownership changes. It does not provide specific insights into broader industry trends or competitive landscape for The Toro Company.

Stakeholder Impact

• Shareholders: Provides transparency into executive stock ownership and compensation, which is a standard aspect of corporate governance.
• Employees: Reflects the company's executive compensation structure, which may indirectly influence broader employee incentive programs.

Next Steps

• The Restricted Stock Units held by Kevin N Carpenter are scheduled to vest on January 23, 2027.

Key Dates

Keywords

Toro Company, TTC, Form 4, Insider Trading, Stock Award, Performance Shares, Restricted Stock Units, Executive Compensation, Kevin N Carpenter