Insider Sale: Toro Tech Chief Cashes Options, Offloads 6,000 Shares

Rhea-AI Filing Summary

Toro (NYSE:TTC) filed a Form 4 disclosing that VP-Technology Kurt D. Svendsen on 06/26/2025 exercised 6,000 stock options at $38.82 and immediately sold 6,000 common shares in four trades priced between $70.98 – $71.01, realising roughly $426 k in proceeds.

Following the transactions he directly owns 17,646 shares; including retirement-plan and deferred units, total beneficial ownership is about 35,353 shares. The sale equals an estimated 17 % of his aggregate holdings, exceeding the 5 % materiality threshold and signalling partial profit-taking ahead of the option’s 12/04/2025 expiry.

Positive

• None.

Negative

• VP-Technology sold 6,000 shares (~17 % of his beneficial holdings) for about $426 k, reducing direct stake to 17,646 shares and potentially signalling limited short-term confidence.

Insights

Insider Trading Analyst

TL;DR: VP sells 17 % stake—bearish tone.

The 6,000-share disposal, executed immediately after option exercise, converts expiring options into cash worth ~$426k. Size surpasses 5 % of total holdings, often viewed as a negative timing signal. Although Svendsen retains ~35k shares, full monetisation of the exercised tranche suggests limited near-term conviction. Investors should watch for additional C-suite sales that could reinforce downward sentiment.

Portfolio Manager

TL;DR: Modest de-risking; impact muted.

The transaction appears to be routine option management before December 2025 expiry. Net sale value is small relative to Toro’s market cap and Svendsen keeps a meaningful equity position, maintaining alignment with shareholders. Unless insider selling broadens across management, I view the market impact as marginal.

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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)
06/26/2025

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	06/26/2025		M		6,000	A	$38.82	17,646.033(1)	D
Common Stock	06/26/2025		S		2,500	D	$70.98	15,146.033	D
Common Stock	06/26/2025		S		1,193	D	$71	13,953.033	D
Common Stock	06/26/2025		S		2,211	D	$71.008	11,742.033	D
Common Stock	06/26/2025		S		96	D	$71.01	11,646.033	D
Common Stock								11,365.429(2)	I	The Toro Company Retirement Plan
Performance Share Units								5,873.431(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
Non-Qualified Stock Option	$38.82	06/26/2025		M			6,000	(4)	12/04/2025	Common Stock	6,000	$0	0	D
Restricted Stock Units	(5)							(6)	(6)	Common Stock	469.142		469.142	D

Explanation of Responses:

1. Includes 65.755 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 62.654 net shares acquired under the dividend reinvestment feature of The Toro Company Retirement Plan less quarterly non-discretionary administrative fees.

3. Includes 32.389 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. The option vests in three equal annual installments commencing on the first anniversary of the December 4, 2015 grant date.

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

6. 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.

Remarks:

	/s/ Joanna M. Totsky, Attorney-in-Fact	06/27/2025
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many TTC shares did VP Technology Kurt D. Svendsen sell on 06/26/2025?

He sold 6,000 shares across four market transactions at an average price of approximately $70.99.

What was the exercise price of the options exercised by TTC's VP?

The non-qualified stock options were exercised at $38.82 per share.

How much did Svendsen gross from selling TTC shares?

The sales generated roughly $426,000 in proceeds.

What is Kurt Svendsen's TTC ownership after the sale?

He directly holds 17,646 shares and controls about 35,353 shares when including plan and deferred units.

What percentage of his total holdings did the 6,000-share sale represent?

The transaction accounted for about 17 % of Svendsen’s combined direct and indirect TTC holdings.

When do the exercised options referenced in the Form 4 expire?

The options were granted 12/04/2015 and were set to expire on 12/04/2025.