Toll Brothers (NYSE: TOL) director updates holdings after 73-share transfer

Rhea-AI Filing Summary

Toll Brothers, Inc. director Paul E. Shapiro reported a small change in his personal holdings of the company’s common stock. On January 9, 2026, he recorded a transaction coded “G” involving 73 shares of common stock at a reported price of $0 per share.

Following this transaction, Shapiro directly beneficially owns 118,680 shares of Toll Brothers common stock. The filing reflects an update to his reported ownership rather than a large change in his economic exposure to the company.

01/12/2026 - 04:30 PM

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

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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^*

SHAPIRO PAUL 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)
01/09/2026

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	01/09/2026		G		73	D	$0	118,680	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:

	/s/ Michael J. Grubb, attorney-in-fact	01/12/2026
	** 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) director Paul E. Shapiro report?

Director Paul E. Shapiro reported a transaction coded “G” on January 9, 2026 involving 73 shares of Toll Brothers common stock at a reported price of $0 per share.

How many Toll Brothers (TOL) shares were involved in Paul E. Shapiro’s latest Form 4 filing?

The filing shows that 73 shares of Toll Brothers common stock were involved in the reported transaction.

What is Paul E. Shapiro’s Toll Brothers (TOL) share ownership after the reported transaction?

After the reported transaction, Paul E. Shapiro beneficially owns 118,680 shares of Toll Brothers common stock in direct ownership.

Was Paul E. Shapiro’s reported Toll Brothers (TOL) transaction in derivative or non-derivative securities?

The reported transaction by Paul E. Shapiro involved non-derivative securities, specifically Toll Brothers common stock.

Is Paul E. Shapiro’s reported ownership in Toll Brothers (TOL) direct or indirect?

The filing classifies Paul E. Shapiro’s 118,680 shares as direct (D) beneficial ownership.

Does the Form 4 for Toll Brothers (TOL) include any derivative securities for Paul E. Shapiro?

The provided Form 4 data lists no derivative securities transactions for Paul E. Shapiro; only common stock is shown.