Toll Brothers (TOL) SVP & CAO reports RSU vesting and tax share sale

Rhea-AI Filing Summary

Toll Brothers, Inc. insider equity activity: A senior executive, serving as SVP & Chief Accounting Officer, reported routine share changes related to vested equity awards. On December 1, 2025, the executive exercised or settled 1,415 restricted stock units into an equivalent number of Toll Brothers common shares at an exercise price of $0.

On the same date, 380 common shares were disposed of at $139.83 per share in a transaction coded "F," indicating shares withheld or sold to cover tax obligations. After these transactions, the executive directly owned 2,974 common shares and held an additional 175 common shares through a 401(k) plan. The restricted stock units had vested in four equal parts on December 1 of 2022, 2023, 2024 and 2025, with settlement of all related shares occurring on December 2, 2025.

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

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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^*

Grubb Michael J.

(Last) (First) (Middle)

1140 VIRGINIA DRIVE

(Street)

FORT WASHINGTON PA 19034

(City) (State) (Zip)

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

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP & Chief Accounting Officer

3. Date of Earliest Transaction (Month/Day/Year)
12/01/2025

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	12/01/2025		M		1,415	A	$0	3,354	D
Common Stock	12/01/2025		F		380	D	$139.83	2,974	D
Common Stock								175	I	401(k) Plan

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
Restricted Stock Units	$0	12/01/2025		M			1,415	12/01/2025(1)	12/01/2025	Common Stock	1,415	$0	0	D

Explanation of Responses:

1. These restricted stock units vested 25% on each of December 1, 2022, 2023, 2024 and 2025. Settlement of 100% of these shares occurred on December 2, 2025.

	/s/ Michael J. Grubb	12/02/2025
	** 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).
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FAQ

What insider transaction did Toll Brothers (TOL) report in this Form 4?

The filing shows a senior executive of Toll Brothers (TOL) settling 1,415 restricted stock units into common shares on December 1, 2025, along with a related share disposition to cover taxes.

How many Toll Brothers (TOL) shares did the executive acquire and dispose of?

The executive acquired 1,415 Toll Brothers common shares from vested restricted stock units and disposed of 380 shares at $139.83 per share in a tax-related transaction coded "F."

What is the executives ownership in Toll Brothers (TOL) after the reported transactions?

Following the reported activity, the executive directly owned 2,974 Toll Brothers common shares and held an additional 175 shares through a 401(k) plan.

What role does the reporting person hold at Toll Brothers (TOL)?

The reporting person is an officer of Toll Brothers, serving as Senior Vice President & Chief Accounting Officer.

How did the restricted stock units for the Toll Brothers (TOL) executive vest?

The restricted stock units vested 25% on each of December 1, 2022, 2023, 2024, and 2025, with 100% of the related shares settled on December 2, 2025.

What does transaction code "F" mean in the Toll Brothers (TOL) Form 4?

Code "F" indicates that 380 Toll Brothers shares were disposed of to satisfy tax withholding obligations associated with the equity award.