Toro (NYSE: TTC) VP exercises RSUs and withholds shares for tax obligations

Rhea-AI Filing Summary

The Toro Company executive Kurt D. Svendsen reported several equity-related transactions. On March 2, 2026, he exercised 475.959 restricted stock units, receiving the same number of common shares at $100.29 per share. In a related tax-withholding move, 173 common shares were disposed of at $100.29 to cover obligations. After these transactions, he held 12,117.985 common shares directly, plus 11,530.375 common shares indirectly through The Toro Company Retirement Plan, along with 1,178 restricted stock units and 6,379.722 performance share units.

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^*

Svendsen Kurt D

(Last) (First) (Middle)

8111 LYNDALE AVENUE SOUTH

(Street)

BLOOMINGTON MN 55420-1196

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
TORO CO [ TTC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	VP, Technology

3. Date of Earliest Transaction (Month/Day/Year)
03/02/2026

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	03/02/2026		M		475.959	A	$100.29	12,290.985(1)	D
Common Stock	03/02/2026		F		173	D	$100.29	12,117.985	D
Common Stock								11,530.375(2)	I	The Toro Company Retirement Plan
Performance Share Units								6,379.722(3)	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
Restricted Stock Units	(4)	03/02/2026		M			475.959	(5)	(5)	Common Stock	475.959	$0	0	D
Restricted Stock Units	(4)							(6)	(6)	Common Stock	1,178		1,178	D

Explanation of Responses:

1. Includes 51.709 shares acquired by the reporting person since the date of his last report under a dividend reinvestment feature of the account in which the shares are held.

2. Includes 50.435 net shares acquired under the dividend reinvestment feature of The Toro Company Retirement Plan less quarterly non-discretionary administrative fees.

3. Includes 26.082 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.

4. Each restricted stock unit represents a contingent right to receive one share of TTC common stock.

5. The restricted stock units and related dividend equivalents vest and become non-forfeitable in three equal annual installments commencing on the first anniversary of the March 1, 2023 grant date.

6. The restricted stock units vest and become non-forfeitable in three equal annual installments commencing on the first anniversary of the December 22, 2025 grant date.

Remarks:

	/s/ Joanna M. Totsky, Attorney-in-Fact	03/04/2026
	** 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.
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FAQ

What insider transactions did TTC executive Kurt Svendsen report?

Kurt Svendsen reported exercising restricted stock units into 475.959 TTC common shares at $100.29 each. He also reported a related tax-withholding disposition of 173 common shares at the same price to satisfy tax obligations on the equity award.

Did Kurt Svendsen buy or sell Toro (TTC) shares on the open market?

The filing shows no open-market buys or sells. Shares were acquired through exercise of restricted stock units and some shares were disposed of only to cover tax obligations, which is different from discretionary buying or selling in the market.

How many Toro (TTC) shares does Kurt Svendsen hold after these transactions?

After the reported activity, he holds 12,117.985 TTC common shares directly. He also has 11,530.375 common shares indirectly through The Toro Company Retirement Plan, plus additional restricted stock units and performance share units not yet settled in shares.

What equity awards in Toro (TTC) does Kurt Svendsen still have outstanding?

Following the transactions, he holds 1,178 restricted stock units and 6,379.722 performance share units. Footnotes explain these units can convert into TTC common stock and generally vest in three equal annual installments starting on specified grant anniversaries.

What does the tax-withholding disposition mean in the TTC Form 4 filing?

The Form 4 labels the 173-share disposition with code F, meaning shares were withheld or delivered to cover exercise price or tax liabilities. This is an administrative transaction, not a discretionary open-market sale by the executive.

How are dividend reinvestments reflected in Kurt Svendsen’s Toro (TTC) holdings?

Footnotes state his positions include shares and units from dividend reinvestment features in certain accounts and plans. These added 51.709 common shares, 50.435 net retirement-plan shares, and 26.082 performance share units since his prior report through automatic reinvestment.