Director at Toll Brothers (NYSE: TOL) converts 1,655 RSUs into common shares

Rhea-AI Filing Summary

Toll Brothers, Inc. director Christine Garvey reported the vesting and settlement of previously granted equity awards. On January 19, 2026, 1,655 restricted stock units with a conversion price of $0 were converted into an equal number of shares of common stock, following 100% vesting on December 19, 2025. After this settlement, she indirectly holds 11,955 shares of Toll Brothers common stock through a trust and an additional 124 shares indirectly through her spouse. The filing does not report any open-market purchases or sales of shares, only the conversion and resulting indirect holdings.

Insider Trade Summary

1,655 shares exercised/converted

Mixed 4 txns

Insider GARVEY CHRISTINE

Role Director

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	1,655	$0.00	--
Exercise	Common Stock	1,655	$0.00	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Restricted Stock Units — 0 shares (Direct); Common Stock — 11,955 shares (Indirect, Trust); Common Stock — 0 shares (Direct)

Footnotes (1)

1. [object Object]

Form 4 Insider Transactions: What Each Field Means →

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^*

GARVEY CHRISTINE

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
01/19/2026

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	01/19/2026		M		1,655	A	$0	11,955	I	Trust
Common Stock								0	D
Common Stock								124	I	Spouse

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	01/19/2026		M			1,655	12/19/2025(1)	12/19/2025	Common Stock	1,655	$0	0	D

Explanation of Responses:

1. These restricted stock units vested 100% on December 19, 2025. Settlement of 100% of these shares occurred on January 19, 2026.

	/s/ Michael J. Grubb, attorney-in-fact	01/20/2026
	** 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.

FAQ

What insider transaction did Toll Brothers (TOL) report for Christine Garvey?

The filing reports that 1,655 restricted stock units held by director Christine Garvey were converted into 1,655 shares of Toll Brothers common stock on January 19, 2026 after vesting.

Were the restricted stock units for Toll Brothers (TOL) fully vested before settlement?

Yes. The filing states that these restricted stock units vested 100% on December 19, 2025, and 100% of the shares were settled on January 19, 2026.

How many Toll Brothers (TOL) shares does Christine Garvey hold after this Form 4 transaction?

After the reported transactions, Christine Garvey indirectly holds 11,955 shares of Toll Brothers common stock through a trust and 124 shares indirectly through her spouse.

Does the Toll Brothers (TOL) Form 4 show any stock sales by Christine Garvey?

No. The reported transaction is coded M, indicating a conversion of 1,655 restricted stock units into common stock at $0 per share, with no open-market sale reported.

How are the Toll Brothers (TOL) shares owned by Christine Garvey classified?

The Form 4 shows 11,955 shares held indirectly through a trust and 124 shares held indirectly through her spouse, reflecting her beneficial ownership.

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

Transaction code M in this context indicates the exercise or conversion of restricted stock units into common stock, here covering 1,655 units at an exercise price of $0.