Toro Co (TTC) HR chief exercises RSUs and pays taxes in shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Toro Co vice president of human resources Lori Riley exercised restricted stock units into common shares and used stock to cover taxes. On April 1, 2026, she converted 3,494.051 restricted stock units into the same number of Toro common shares at a stated value of $93.49 per share.
Of these shares, 1,745 were withheld to satisfy tax obligations, leaving her with 1,749.051 additional directly held shares. After the transactions, she directly owned 3,494.051 common shares and indirectly held 1 share through The Toro Company Retirement Plan. She also retained unvested restricted stock units covering 2,010 underlying shares that will vest in installments beginning one year after the April 1, 2025 and December 22, 2025 grant dates.
Positive
- None.
Negative
- None.
Insider Trade Summary
3,494.051 shares exercised/converted
Mixed
5 txns
Insider
Riley Lori
Role
VP, Human Resources
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 3,494.051 | $0.00 | -- |
| Exercise | Common Stock | 3,494.051 | $93.49 | $327K |
| Tax Withholding | Common Stock | 1,745 | $93.49 | $163K |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 6,990.13 shares (Direct);
Common Stock — 3,494.051 shares (Direct);
Common Stock — 1 shares (Indirect, The Toro Company Retirement Plan)
Footnotes (1)
- Includes the following shares of common stock acquired by the reporting person since the date of her last report: One share acquired through a standard issuer contribution to The Toro Company Retirement Plan. Each restricted stock unit represents a contingent right to receive one share of TTC common stock. The restricted stock units and related dividend equivalents vest in three equal annual installments commencing on the first anniversary of the April 1, 2025 grant date. The restricted stock units and related dividend equivalents vest in three equal annual installments commencing on the first anniversary of the December 22, 2025 grant date.
Key Figures
RSUs exercised: 3,494.051 units
Stated share value: $93.49 per share
Shares withheld for taxes: 1,745 shares
+3 more
6 metrics
RSUs exercised
3,494.051 units
Restricted Stock Units converted to common stock on April 1, 2026
Stated share value
$93.49 per share
Value used for common stock issued from RSU exercise
Shares withheld for taxes
1,745 shares
Common stock withheld in F-code tax-withholding disposition
Direct common shares after transaction
3,494.051 shares
Direct ownership of Toro Co common stock following Form 4 transactions
Indirect retirement plan shares
1 share
Held through The Toro Company Retirement Plan via issuer contribution
Remaining RSUs underlying shares
2,010 shares
Unvested restricted stock units still outstanding after the exercise
Key Terms
Restricted Stock Units, tax-withholding disposition, dividend equivalents, The Toro Company Retirement Plan, +1 more
5 terms
Restricted Stock Units financial
"Each restricted stock unit represents a contingent right to receive one share of TTC common stock."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
tax-withholding disposition financial
"Payment of exercise price or tax liability by delivering securities"
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
dividend equivalents financial
"The restricted stock units and related dividend equivalents vest in three equal annual installments"
Payments tied to employee or contractor equity awards that mirror the cash dividends paid on the company’s stock; they give the holder the same economic benefit as owning the shares without transferring actual shares—often paid in cash or additional award units when the award becomes payable. Investors care because these payments affect a company’s compensation costs, cash flow and potential share dilution, and they signal how management is being rewarded and aligned with shareholders.
The Toro Company Retirement Plan financial
"One share acquired through a standard issuer contribution to The Toro Company Retirement Plan."
standard issuer contribution financial
"One share acquired through a standard issuer contribution to The Toro Company Retirement Plan."
FAQ
What did TTC executive Lori Riley report in this Form 4 filing?
Lori Riley reported exercising 3,494.051 restricted stock units into Toro Co common shares. A portion of the resulting shares was withheld to cover taxes, and her updated direct and indirect share holdings and remaining unvested units were disclosed.
Does Lori Riley still hold unvested restricted stock units in TTC?
Yes. After the exercise, she retained restricted stock units tied to 2,010 underlying Toro Co shares. These units and related dividend equivalents vest in three equal annual installments starting one year after their April 1, 2025 and December 22, 2025 grant dates.
Was this Toro Co Form 4 an open-market stock purchase or sale?
No open-market trades were reported. The Form 4 reflects a derivative exercise of restricted stock units and a tax-withholding disposition. Shares were issued as equity compensation and partly withheld to pay taxes, rather than bought or sold on an exchange.