[Form 4] THOR INDUSTRIES INC Insider Trading Activity

Rhea-AI Filing Summary

Laurel Hurd, a director of Thor Industries, Inc. (THO), was granted 1,482 restricted stock units on 10/07/2025 that may be settled only in shares of common stock. The grant price is reported as $0, and the units will fully vest on 10/07/2026, the first anniversary of the grant, subject to forfeiture. After the grant, Ms. Hurd beneficially owns 6,566 shares of common stock in a direct ownership form. The Form 4 was signed on 10/09/2025 by an attorney-in-fact.

Positive

• 1,482 restricted stock units granted aligns director compensation with shareholder interests
• Units settle in shares, creating equity ownership rather than cash payout
• Vesting on 10/07/2026 provides time‑based alignment and retention incentive

Negative

• Reported ownership remains modest at 6,566 shares, which may be limited influence on alignment
• Potential dilution from equity grants if management and directors receive recurring awards

Insights

Compensation Governance Analyst

Director received time‑based restricted stock units that vest in one year.

The grant of 1,482 restricted stock units payable in common stock is a standard form of director compensation that aligns long‑term interests with shareholders because settlement occurs in shares rather than cash. The reported $0 price indicates these are restricted grants, not purchases.

Key dependencies are the vesting condition and potential forfeiture through the one‑year service requirement ending on 10/07/2026. Monitor total outstanding dilution from equity grants and changes to equity compensation policies over the next 12 months.

Insider Activity Specialist

Transaction is a non‑sale grant, not an open‑market trade.

The Form 4 reports an acquisition code for restricted stock units (not a cash purchase or sale) and shows direct beneficial ownership of 6,566 shares after the grant. This filing updates insider holdings and compensatory awards for regulatory transparency.

Watch for any subsequent exercises, settlements, or open‑market transactions that change the holding count before the reported vesting date on 10/07/2026; such events would generate additional Section 16 filings.

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
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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^*

Hurd Laurel

(Last) (First) (Middle)

C/O THOR INDUSTRIES, INC.

52700 INDEPENDENCE COURT

(Street)

ELKHART IN 46514

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
THOR INDUSTRIES INC [ THO ]

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

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
10/07/2025

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
Common Stock	10/07/2025		A		1,482	A	$0(1)	6,566	D

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

Explanation of Responses:

1. The transaction reported is a grant of restricted stock units that may be settled only by delivery of an equal number of shares of common stock. The shares will fully vest on October 7, 2026, the first anniversary of the date of grant, subject to forfeiture.

	/s/ Barb Montague, attorney-in-fact for Laurel Hurd	10/09/2025
	** 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 Laurel Hurd report on the Form 4 for THO?

Laurel Hurd reported a grant of 1,482 restricted stock units on 10/07/2025 that vest on 10/07/2026 and are payable in common stock.

How many shares does the director own after the reported transaction for THO?

6,566 shares of common stock are reported as beneficially owned following the transaction.

What is the price reported for the restricted stock units on the THO Form 4?

The grant is reported with a price of $0, indicating a compensatory restricted award rather than a market purchase.

When do the restricted stock units granted to Laurel Hurd vest?

The units fully vest on 10/07/2026, the first anniversary of the grant, subject to forfeiture.

Was the Form 4 filed jointly or by one reporting person for THO?

The Form 4 was filed by one reporting person (single‑person filing).