TOL Form 4: Director Wendell Pritchett Disposes of 2,500 Shares

Rhea-AI Filing Summary

Wendell E. Pritchett, a director of Toll Brothers, Inc. (TOL), reported an open-market sale of 2,500 shares of the issuer's common stock on 09/02/2025 at a volume-weighted average price of approximately $138.7132 per share (individual sale prices ranged from $138.7101 to $138.755). After the transaction he beneficially owns 13,511 shares, held directly. The Form 4 was filed individually and signed by an attorney-in-fact, Michael J. Grubb. The filer offers to provide breakdowns of shares sold at each price upon request.

Insights

Corporate Governance Expert

TL;DR: Routine director sale, disclosed properly; no additional context in filing to indicate material governance concerns.

The Form 4 shows a single open-market disposition by a company director with full SEC-required disclosure of quantity, date, and a volume-weighted average sale price. The filing identifies direct ownership remaining after the sale and is signed by an attorney-in-fact, indicating the reporting was executed through authorized representation. There are no amendments or linked derivative transactions included. Based solely on the form, this is a standard insider sale with clear disclosure; the document contains no governance red flags or indications of unusual transfer mechanisms.

Securities Analyst

TL;DR: Small director share sale disclosed; not sufficient information here to infer impact on company valuation.

The reported sale of 2,500 shares at a VWAP of about $138.71 reduces the reporting person's direct stake to 13,511 shares. The Form 4 provides the range of actual sale prices and offers further breakdown on request, which supports transparency. The filing does not include any information on reasons for the sale, transaction scheduling plans, or concurrent trades by other insiders. From an investor-materiality standpoint, the form documents compliance with Section 16 disclosure rules but does not by itself indicate a material change to holdings or corporate outlook.

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^*

Pritchett Wendell E.

(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)
09/02/2025

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	09/02/2025		S		2,500	D	$138.7132(1)	13,511	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. 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 $138.7101 to $138.755. 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.

	/s/ Michael J. Grubb, attorney-in-fact	09/02/2025
	** 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).
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 transaction did Wendell E. Pritchett report on the Form 4 for TOL?

The Form 4 reports an open-market sale of 2,500 shares of Toll Brothers common stock on 09/02/2025.

At what price were the Toll Brothers shares sold in the reported transaction?

The reported volume-weighted average sale price was approximately $138.7132, with actual sale prices ranging from $138.7101 to $138.755.

How many Toll Brothers shares does the reporting person own after the sale?

After the reported sale the reporting person beneficially owns 13,511 shares, held directly.

Who signed the Form 4 filing for Wendell E. Pritchett?

The Form 4 was executed on behalf of the reporting person by attorney-in-fact Michael J. Grubb and dated 09/02/2025.

Does the Form 4 include any derivative transactions or amendments?

No. The filing contains only a non-derivative sale of common stock and does not show derivative transactions or amendments.