Toll Brothers SEC Filings

Toll Brothers, Inc. reported that its Senior Vice President and Chief Accounting Officer, Michael J. Grubb, has notified the company of his intention to retire as principal accounting officer effective February 2, 2026. Grubb, age 61, has been with the company for 22 years and has served as Chief Accounting Officer since January 2018.

The company intends to appoint Erica J. Mainardi, age 44, as Senior Vice President and Chief Accounting Officer, effective the same date. Mainardi joined Toll Brothers in June 2020 as Director of FP&A and became a Vice President in September 2021 with oversight of Corporate Accounting. Her prior experience includes senior technical accounting and reporting roles at DuPont de Nemours, Inc. and BrightView Holdings, Inc., as well as audit leadership at Ernst & Young LLP. She is a Certified Public Accountant with a B.S. in Accounting from Saint Joseph’s University. The company states there are no special arrangements, family relationships, or related-party transactions connected to her appointment.

Toll Brothers, Inc. describes its luxury homebuilding business and overall position for the fiscal year ended October 31, 2025. The Company operates in 24 states and Washington, D.C., offering single-family, attached, master-planned and urban high-rise communities across a wide range of price points. In the five years ended October 31, 2025, it delivered 52,203 homes, including 11,292 homes from 556 communities in fiscal 2025, and was selling from 446 communities at year-end.

Backlog was $5.49 billion, or 4,647 homes, at October 31, 2025, and approximately 98% of these homes are expected to be delivered in fiscal 2026. The Company controlled approximately 76,100 home sites it owned or optioned and had 500 operating communities with 24,875 available home sites. Toll Brothers is increasing the share of quick move-in spec homes, which represented 54% of fiscal 2025 deliveries, and continues to target luxury first-time, move-up, empty-nester, active-adult, and second-home buyers.

Apart from for-sale housing, Toll Brothers develops for-rent apartment and student housing communities through joint ventures. On September 18, 2025, it announced an exit from the multifamily development business, beginning with the sale of interests in approximately half of its Apartment Living portfolio and its operating platform to Kennedy Wilson for a purchase price of approximately $380 million, a transaction substantially completed in December 2025. Toll Brothers plans to sell its remaining multifamily interests over time while Kennedy Wilson assumes management of the retained for-rent properties.

Toll Brothers, Inc. insider activity shows its Chief Executive Officer and director receiving and settling performance-based equity awards. On December 17, 2025, the executive acquired 37,915 shares of common stock at $0 after the board’s Executive Compensation Committee certified return-on-equity performance for restricted stock units granted in 2022. To cover obligations, 15,409 shares were disposed of at $138.67, leaving 321,627 shares held directly, plus additional indirect holdings through a 401(k) plan, a trust, and a SLAT.

The filing also reports 22,789 performance-based restricted stock units tied to operational metrics from a 2024 grant being earned and recorded at an exercise price of $0. These units are scheduled to vest in 25% increments on each of December 19, 2025, 2026, 2027, and 2028, with settlement of all earned shares expected on December 19, 2028.

Toll Brothers, Inc. reported equity compensation activity for its President & COO. On December 17, 2025, the executive acquired 7,483 shares of common stock at a price of $0 and disposed of 3,079 shares at $138.67, leaving 28,478 common shares held directly. The acquired shares reflect performance-based awards that vested after the Executive Compensation Committee certified achievement of return-on-equity and operational performance goals over a three-year period ending October 31, 2025.

The filing also shows a grant of 5,829 performance-based restricted stock units at a $0 exercise price, each linked to an equal number of common shares. These units vest in 25% installments on each of December 19, 2025, 2026, 2027 and 2028, with settlement of earned shares scheduled for December 19, 2028. Overall, the transactions represent routine executive compensation and related tax share withholding rather than open-market buying or selling.

Toll Brothers, Inc. reported that on December 8, 2025 it issued a press release announcing its financial results for the three-month and twelve-month periods ended October 31, 2025. This report furnishes that press release as Exhibit 99.1, rather than including the financial details directly. The company also notes that the information provided under this item is considered "furnished" and not "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, which affects how related legal liabilities are treated.

Toll Brothers, Inc. (TOL) filed a Form 4 reporting equity transactions by its Chief Executive Officer and Director. On December 1, 2025, restricted stock units covering 55,845 shares of common stock were exercised and converted to common stock at an exercise price of $0, increasing the CEO’s directly held shares.

On the same date, 22,696 shares of common stock were disposed of in a transaction coded “F” at a price of $139.83 per share, reflecting shares withheld to cover taxes associated with the vesting. After these transactions, the CEO held 299,121 shares of common stock directly, plus additional indirect holdings of 1,547 shares in a 401(k) plan, 500 shares in a trust, and 80,500 shares held by a SLAT. The filing notes that these restricted stock units vested in four annual installments and were fully settled on December 2, 2025.

Toll Brothers, Inc. (TOL) chief financial officer Form 4 shows routine equity compensation activity. On December 1, 2025, the officer exercised 2,346 restricted stock units for common stock at an exercise price of $0, reflecting vesting of a prior equity award. On the same date, 766 shares of common stock were withheld and disposed of at $139.83 per share to cover tax obligations, leaving 17,206 shares of common stock held directly.

The filing also reports additional indirect holdings, including common stock in a 401(k) plan, an IRA, a Roth IRA, and shares held by the officer’s spouse. The explanation notes that these restricted stock units vested in four equal 25% installments each December 1 from 2022 through 2025, with settlement of all related shares completed on December 2, 2025.

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.

Toll Brothers (TOL): Capital World Investors filed a Schedule 13G reporting a 5.4% beneficial stake. The filing lists 5,224,922 shares of common stock deemed beneficially owned, based on 96,383,000 shares believed outstanding.

Capital World Investors reports sole voting power over 5,187,673 shares and sole dispositive power over 5,224,922 shares, with no shared voting or dispositive power. The certification states the securities were acquired and are held in the ordinary course and not for the purpose of changing or influencing control. The date of event is 09/30/2025.