Toro (NYSE: TTC) CEO exercises options, sells 119,400, keeps stake
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
The Toro Company Chairman & CEO Richard M. Olson exercised options for 119,400 shares of common stock at $56.54 per share and on the same day sold 119,400 shares in open-market transactions at a weighted average price of about $100.148 per share, within a range of $100.00 to $100.69. Following these transactions, he directly holds 38,186.461 shares of common stock and indirectly holds 17,806.553 shares through The Toro Company Retirement Plan. He also holds 16,916 restricted stock units, each representing a right to receive one share of common stock, and 170,892.685 performance share units, giving him substantial remaining equity exposure to Toro.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 119,400 shares ($11,957,671)
Net Sell
6 txns
Insider
Olson Richard M
Role
Chairman & CEO
Sold
119,400 shs ($11.96M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Non-Qualified Stock Option | 119,400 | $0.00 | -- |
| Exercise | Common Stock | 119,400 | $56.54 | $6.75M |
| Sale | Common Stock | 119,400 | $100.148 | $11.96M |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Performance Share Units | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Non-Qualified Stock Option — 0 shares (Direct);
Common Stock — 157,586.461 shares (Direct);
Restricted Stock Units — 16,916 shares (Direct);
Performance Share Units — 170,892.685 shares (Direct);
Common Stock — 17,806.553 shares (Indirect, The Toro Company Retirement Plan)
Footnotes (1)
- The price reported in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $100.00 per share to $100.690 per share, inclusive. The reporting person undertakes to provide to The Toro Company, any security holder of The Toro Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. Includes 748.027 performance share units acquired by the reporting person since the date of his last report under the dividend reinvestment feature of The Toro Company Deferred Compensation Plan for Officers. Includes 77.819 net shares acquired by the reporting person since the date of his last report under the dividend reinvestment feature of The Toro Company Retirement Plan less quarterly non-discretionary administrative fees. The option vests in three equal annual installments commencing on the first anniversary of the December 9, 2016 grant date. Each restricted stock unit represents a contingent right to receive one share of TTC common stock. The restricted stock units vest in three equal annual installments commencing on the first anniversary of the December 22, 2025 grant date.
FAQ
What did Toro (TTC) CEO Richard Olson report in this Form 4?
Richard Olson reported exercising options for 119,400 Toro common shares at $56.54 and selling 119,400 shares at a weighted average price of about $100.148 per share, reflecting an exercise-and-sell transaction on the same date.
What options did the Toro (TTC) CEO exercise in this Form 4?
He exercised a non-qualified stock option covering 119,400 underlying Toro common shares at an exercise price of $56.54 per share. The option originally vested in three equal annual installments beginning on the first anniversary of the December 9, 2016 grant date.
What restricted and performance units does the Toro (TTC) CEO still hold?
He holds 16,916 restricted stock units, each equal to one Toro common share, and 170,892.685 performance share units. The restricted stock units vest in three equal annual installments starting on the first anniversary of the December 22, 2025 grant date.