TOL Form 4: Michael Grubb Sells 500 Shares, Retains 1,939 Directly

Rhea-AI Filing Summary

Michael J. Grubb, SVP & Chief Accounting Officer (also indicated as a director), reported a sale of 500 shares of Toll Brothers, Inc. (TOL) common stock on 08/22/2025 at a price of $140.63 per share. After the transaction he beneficially owns 1,939 shares directly and 175 shares indirectly through a 401(k) plan. The Form 4 was signed and filed on 08/25/2025, documenting the insider disposition and remaining holdings.

Positive

• Timely disclosure of insider transaction via Form 4 filed and signed on 08/25/2025
• Clear reporting of transaction details including price ($140.63) and post-transaction ownership

Negative

• Insider sale of 500 shares may be viewed negatively by some investors despite modest size

Insights

Financial Analyst

TL;DR: Insider sale disclosed; transaction size appears modest versus typical institutional holdings.

The filing shows a single non-derivative sale of 500 shares at $140.63, with 1,939 shares retained directly and 175 indirectly in a 401(k). For most companies, a 500-share sale by a senior accounting officer is routine and does not by itself signal a material change in corporate financials or strategy. The timely Form 4 filing and clear disclosure support regulatory compliance and market transparency.

Corporate Governance Expert

TL;DR: Proper insider disclosure completed; transaction raises no immediate governance red flags.

The report identifies the reporting person and relationship to the issuer and documents the sale with price and post-transaction ownership. There is no indication in this Form 4 of transactions pursuant to a 10b5-1 plan or of related-party issues. The disclosure appears complete for this specific transaction, fulfilling Section 16 reporting obligations.

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^*

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)
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
Common Stock	08/22/2025		S		500	D	$140.63	1,939	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

Explanation of Responses:

	/s/ Michael J. Grubb	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 insider transaction did Toll Brothers (TOL) disclose?

Michael J. Grubb reported a sale of 500 shares of Toll Brothers common stock on 08/22/2025 at $140.63 per share.

How many Toll Brothers shares does Michael J. Grubb own after the sale?

Following the reported transaction he beneficially owns 1,939 shares directly and 175 shares indirectly through a 401(k) plan.

What is Michael J. Grubb's role at Toll Brothers?

The Form 4 lists him as SVP & Chief Accounting Officer and indicates a director relationship.

When was the Form 4 signed and filed?

The Form 4 bears the signature dated 08/25/2025.

Was the transaction reported as part of a 10b5-1 trading plan?

The Form 4 does not indicate that the transaction was made pursuant to a 10b5-1 plan; no such designation is present in the provided content.