Douglas Yearley of Toll Brothers (TOL) exercises options, sells 77,957 shares and retains over 321,000

Rhea-AI Filing Summary

Toll Brothers Executive Chairman Douglas C. Yearley Jr. exercised stock options and sold the resulting shares on the same day. He exercised 77,957 shares of common stock at $31.6100 per share through a stock option grant, then sold 77,957 shares of common stock in an open-market transaction at a volume-weighted average price of $156.5783 per share, with individual sale prices ranging from $156.50 to $156.945.

Following these transactions, he directly holds 321,256 shares of Toll Brothers common stock. He also reports indirect ownership of 80,500 shares through a SLAT, 500 shares in a trust, and 1,547 shares in a 401(k) Plan. The option grant exercised on this date is now fully used, with 0 derivative options remaining from that award.

Insights

Insider trading and governance analyst

Yearley executed an exercise-and-sell, converting options into cash while retaining a large equity stake.

The filing shows Douglas C. Yearley Jr. exercising stock options for 77,957 shares at a strike price of $31.6100 and selling the same number of shares at a volume-weighted average of $156.5783. This is a classic exercise-and-sell pattern, turning a long-standing option award into realized value.

After the sale, he continues to hold 321,256 shares directly, plus additional indirect holdings via a SLAT, a trust, and a 401(k) Plan. The derivative record for this option now shows 0 shares remaining, indicating the award has been fully exercised. Overall, this appears to be a liquidity event tied to compensation rather than a complete exit from the stock.

Insider Trade Summary

Exercise and Sale: 77,957 shares ($9.74M approx. pre-tax spread)

Exercise and Sale 6 txns

Insider Yearley Douglas C. Jr.

Role Executive Chairman

Sold 77,957 shs ($12.21M)

Approx. gross sale proceeds $12.21M

Approx. exercise cost $2.46M

Approx. pre-tax spread $9.74M

Type	Security	Shares	Price	Value
Exercise	Stock Options (Right to Buy)	77,957	$0.00	$0.00
Exercise	Common Stock	77,957	$31.61	$2.46M
Sale	Common Stock	77,957	$156.5783	$12.21M
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Stock Options (Right to Buy) — 0 shares (Direct); Common Stock — 321,256 shares (Direct); Common Stock — 1,547 shares (Indirect, 401(k) Plan); Common Stock — 500 shares (Indirect, Trust); Common Stock — 80,500 shares (Indirect, By SLAT)

Footnotes (2)

1. F1. Price is the volume weighted average selling price of all sales by the reporting person on the transaction date within a one dollar range. Actual prices ranged from $156.50 to $156.945. The reporting person hereby undertakes to provide upon request of the Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.
2. F2. Vested 25% on 12/20/2017, 2018, 2019 and 2020. Exercisable as of vesting date.

Key Figures

Shares sold: 77,957 shares Sale VWAP: $156.5783 per share Option exercise price: $31.6100 per share +5 more

8 metrics

Shares sold 77,957 shares Open-market sale of common stock

Sale VWAP $156.5783 per share Volume-weighted average sale price; range $156.50–$156.945

Option exercise price $31.6100 per share Strike price for exercised stock options

Shares exercised 77,957 options Stock options converted into common shares

Direct holdings after transaction 321,256 shares Common stock held directly post-transaction

Indirect SLAT holdings 80,500 shares Common stock held indirectly via SLAT

Trust holdings 500 shares Common stock held indirectly through a trust

401(k) Plan holdings 1,547 shares Common stock held indirectly in 401(k) Plan

Key Terms

volume weighted average selling price, Stock Options (Right to Buy), 401(k) Plan, SLAT, +1 more

5 terms

volume weighted average selling price financial

"Price is the volume weighted average selling price of all sales by the reporting person"

Stock Options (Right to Buy) financial

"security_title": "Stock Options (Right to Buy)""

401(k) Plan financial

"nature_of_ownership": "401(k) Plan""

A 401(k) plan is a workplace retirement account that lets employees set aside part of their pay into a tax-advantaged savings pot, often with employers adding matching contributions — like a workplace piggy bank for future income. It matters to investors because the amount people save and how employers fund these plans influence consumer spending, corporate payroll costs and the flow of money into financial markets, which can affect stock prices and company valuations.

SLAT financial

"nature_of_ownership": "By SLAT""

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

FAQ

What did Toll Brothers (TOL) executive Douglas Yearley do in this Form 4?

Douglas C. Yearley Jr. exercised stock options for 77,957 Toll Brothers shares at $31.6100 and sold 77,957 shares in the open market at a volume-weighted average price of $156.5783 on the same date.

How many Toll Brothers (TOL) shares did Douglas Yearley sell and at what price?

He sold 77,957 shares of Toll Brothers common stock in an open-market transaction at a volume-weighted average price of $156.5783, with individual sale prices ranging from $156.50 to $156.945 according to the filing footnote.

What stock options did Douglas Yearley exercise in the Toll Brothers (TOL) Form 4?

Yearley exercised stock options for 77,957 shares of Toll Brothers common stock at an exercise price of $31.6100 per share. The options vested in four 25% installments from December 20, 2017 through 2020 and were exercisable as of each vesting date.

How many Toll Brothers (TOL) shares does Douglas Yearley own after these transactions?

After the reported transactions, Yearley directly owns 321,256 shares of Toll Brothers common stock. He also indirectly holds 80,500 shares through a SLAT, 500 shares in a trust, and 1,547 shares in a 401(k) Plan, as disclosed.

Were any Toll Brothers (TOL) derivative securities left after Douglas Yearley’s option exercise?

No derivative securities from this specific stock option grant remain. The derivative position labeled "Stock Options (Right to Buy)" shows 77,957 options exercised and total derivative shares following the transaction reduced to 0.0000 in the filing.

What does the Form 4 say about the pricing of Douglas Yearley’s Toll Brothers share sales?

The Form 4 footnote states the sale price is a volume-weighted average. Actual prices for the 77,957 shares sold ranged from $156.50 to $156.945, and detailed trade breakdowns are available upon request to the issuer or regulators.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/18/2026 - 04:02 PM Accepted by SEC EDGAR 06/18/2026 - 04:01 PM Learn about SEC filing dates

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^*

Yearley Douglas C. Jr.

(Last) (First) (Middle)

1140 VIRGINIA DRIVE

(Street)

FORT WASHINGTON PENNSYLVANIA 19034

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Toll Brothers, Inc. [ TOL ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/18/2026

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

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

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

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	06/18/2026		M		77,957	A	$31.61	399,213	D
Common Stock	06/18/2026		S		77,957	D	$156.5783(1)	321,256	D
Common Stock								1,547	I	401(k) Plan
Common Stock								500	I	Trust
Common Stock								80,500	I	By SLAT

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
Stock Options (Right to Buy)	$31.61	06/18/2026		M			77,957	12/20/2017(2)	12/20/2026	Common Stock	77,957	$0	0	D

Explanation of Responses:

1. Price is the volume weighted average selling price of all sales by the reporting person on the transaction date within a one dollar range. Actual prices ranged from $156.50 to $156.945. The reporting person hereby undertakes to provide upon request of the Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.

2. Vested 25% on 12/20/2017, 2018, 2019 and 2020. Exercisable as of vesting date.

	/s/ Erica J. Mainardi, attorney-in-fact	06/18/2026
	** 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.
* Form 4: SEC 1474 (03-26)