Toro (NYSE: TTC) legal chief exercises RSUs with tax shares withheld
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
The Toro Company executive Joanna M. Totsky, VP, General Counsel and Corporate Secretary, exercised 4,859.036 restricted stock units into common stock on June 22, 2026. To cover tax obligations, 2,168 common shares were disposed of through tax withholding at $92.19 per share.
After these transactions, she directly holds 7,719.986 common shares and indirectly holds 1.036 common shares through The Toro Company Retirement Plan. She also retains 2,713.785 restricted stock units, each representing a contingent right to receive one share of common stock, vesting in scheduled annual installments.
Positive
- None.
Negative
- None.
Insider Trade Summary
4,859.036 shares exercised/converted
Mixed
5 txns
Insider
Totsky Joanna M.
Role
VP, GC & Corp Secretary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 4,859.036 | $0.00 | -- |
| Exercise | Common Stock | 4,859.036 | $92.19 | $448K |
| Tax Withholding | Common Stock | 2,168 | $92.19 | $200K |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 0 shares (Direct, null);
Common Stock — 9,887.986 shares (Direct, null);
Common Stock — 1.036 shares (Indirect, The Toro Company Retirement Plan)
Footnotes (1)
- Includes 0.008 shares of common stock acquired under the dividend reinvestment feature of the The Toro Company Retirement Plan since the date of her last report. 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 June 20, 2023 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: 4,859.036 units
Tax-withheld shares: 2,168 shares at $92.19
Direct common shares held: 7,719.986 shares
+3 more
6 metrics
RSUs exercised
4,859.036 units
Restricted Stock Units converted to Toro common stock on June 22, 2026
Tax-withheld shares
2,168 shares at $92.19
Common shares disposed to cover tax liabilities (code F)
Direct common shares held
7,719.986 shares
Direct Toro common stock holdings after reported transactions
Remaining RSUs
2,713.785 units
Restricted stock units outstanding, each convertible into one common share
Indirect plan holdings
1.036 shares
Common stock held via The Toro Company Retirement Plan
Exercise price per share
$0.00
Conversion price for restricted stock units into common stock
Key Terms
Restricted Stock Units, tax-withholding disposition, The Toro Company Retirement Plan, dividend reinvestment feature, +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.
The Toro Company Retirement Plan financial
"Includes 0.008 shares of common stock acquired under the dividend reinvestment feature of the The Toro Company Retirement Plan since the date of her last report."
dividend reinvestment feature financial
"acquired under the dividend reinvestment feature of the The Toro Company Retirement Plan"
exercise or conversion of derivative security financial
"Exercise or conversion of derivative security"
FAQ
What insider transactions did TTC executive Joanna Totsky report?
Joanna Totsky exercised 4,859.036 restricted stock units into Toro common stock and had 2,168 shares withheld for taxes at $92.19 per share. These compensation-related moves converted equity awards into shares while settling associated tax obligations.
How many restricted stock units does Joanna Totsky still hold at Toro (TTC)?
After the reported exercise, Joanna Totsky retains 2,713.785 restricted stock units tied to Toro common stock. Each unit represents a contingent right to receive one share, vesting in three equal annual installments from the respective grant dates.
What does the M transaction code mean in this Toro (TTC) Form 4?
The M transaction code in this Form 4 indicates an exercise or conversion of a derivative security. Here, 4,859.036 restricted stock units were converted into Toro common stock as part of Totsky’s equity compensation arrangements, rather than a market purchase.
Is there evidence of open-market buying or selling by Joanna Totsky in this TTC filing?
The reported transactions involve derivative exercises and tax-withholding dispositions, not open-market purchases or sales. Shares were acquired by exercising 4,859.036 restricted stock units and 2,168 shares were withheld to satisfy tax obligations at $92.19 per share.