BLD Form 4: VP & CHRO Exercises Options, Sells All 1,473 Shares

Rhea-AI Filing Summary

Jennifer Shoffner, Vice President & CHRO of TopBuild Corp. (BLD), exercised an employee stock option on 08/22/2025 with an exercise price of $214.58 to acquire 1,473 shares of TopBuild common stock. The reporting table shows the shares were sold in multiple transactions at prices ranging from $440.00 to $440.69 and the reporting person held 0 shares following the transactions. The Form 4 was filed on behalf of the reporting person and signed via attorney-in-fact on 08/25/2025. The filing includes a footnote stating the filer will provide the exact number of shares sold at each price in the stated range upon SEC request.

Positive

• Transparent disclosure: The filing specifies exercise price, number of options exercised, sale price range, and states willingness to supply per-price sale quantities to the SEC.
• Realized gain potential: The shares were sold at prices significantly above the reported exercise price, indicating a substantive per-share spread as disclosed.

Negative

• No retained shares reported: The reporting person holds 0 shares following the transactions, reducing insider ownership disclosed in this filing.
• Sale price detail limited: The filing provides a price range rather than exact quantities at each price, requiring follow-up to obtain full per-price allocation.

Insights

Securities Analyst

TL;DR: Officer exercised options and sold all 1,473 resulting shares at roughly $440 each, realizing a sizable per-share spread over exercise price.

This Form 4 documents a routine insider exercise-and-sell transaction by a senior executive. The officer exercised options with a $214.58 strike and the underlying shares were sold at prices between $440.00 and $440.69, which implies a material per-share gain versus the strike price on a per-share basis as reported in the filing. The report shows zero shares retained post-transaction, indicating no ongoing direct exposure from these particular shares. The filing is a standard Section 16 disclosure and contains a footnote committing to provide a breakdown of quantities sold at each reported price within the stated range.

Corporate Governance Expert

TL;DR: The disclosure is timely and complete for a common exercise-and-sale; no outstanding retained shares reported from this transaction.

The Form 4 identifies the reporting person as an officer (Vice President & CHRO) and indicates the transaction code 'M' consistent with exercise/exchange activity. The reporting person disposed of all shares acquired from the option exercise, leaving 0 shares beneficially owned from this grant according to the report. The signature by attorney-in-fact and the footnote committing to provide per-price sale quantities are standard procedural details that preserve disclosure transparency.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Shoffner Jennifer

(Last) (First) (Middle)

C/O TOPBUILD CORP.

475 N WILLIAMSON BLVD

(Street)

DAYTONA BEACH FL 32114

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
TopBuild Corp [ BLD ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Vice President & CHRO

3. Date of Earliest Transaction (Month/Day/Year)
08/22/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (right to buy)	$214.58	08/22/2025		M		1,473		02/22/2024	02/16/2031	Common Stock	1,473	$440.3(1)	0	D

Explanation of Responses:

1. These shares were sold in multiple transactions at prices ranging from $440.00 - $440.69, inclusive. The reporting person, upon request, will submit to the Securities and Exchange Commission the number of shares sold at each separate price within the range set forth in this footnote.

	/s/ Luis F. Machado, Attorney-in-Fact	08/25/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Jennifer Shoffner (BLD) report on Form 4?

The filing reports the exercise of an employee stock option for 1,473 shares at an exercise price of $214.58 and sale of those shares at prices ranging from $440.00 to $440.69 on 08/22/2025.

How many TopBuild (BLD) shares does the reporting person own after the transaction?

The Form 4 shows the reporting person owned 0 shares following the reported transactions.

What transaction code is used and what does it indicate?

The filing uses transaction code M, which here corresponds to the exercise of an employee stock option and related sale activity as reported in the form.

What price did the reporting person receive for the shares sold?

The shares were sold in multiple transactions at prices ranging from $440.00 to $440.69; the filer will provide quantities sold at each price to the SEC upon request.

When was the Form 4 filed and signed?

The earliest reported transaction date is 08/22/2025 and the form bears an attorney-in-fact signature dated 08/25/2025.