TORO CO Group VP Gregory S. Janey exercised stock options and sold shares of common stock. On March 24, 2026, Janey exercised options covering 3,500 shares of common stock at an exercise price of $56.54 per share and then sold 3,500 shares in open-market trades at prices of $95.49 and $95.44 per share.
After these transactions, Janey directly held 5,521.284 shares of Toro common stock, plus deferred awards. Direct derivative holdings include restricted stock units tied to 20,722.227 and 2,634.000 underlying shares and 7,190.370 performance share units. Janey also had an indirect holding of 2,216.097 common shares through The Toro Company Retirement Plan.
The Toro Company reported results of its 2026 Annual Meeting and key governance changes. Stockholders approved the 2026 Equity Plan, which authorizes up to 3,650,000 shares of common stock for equity awards, plus additional shares carried over from the prior 2022 plan. The plan is effective through March 17, 2036 and supports options, restricted stock, restricted stock units, performance shares, and other stock-based awards.
The Board also adopted a new 2026 Annual Incentive Plan providing annual cash incentives tied to short‑term performance goals. Stockholders approved amendments to the Restated Certificate of Incorporation to eliminate or limit officer liability as allowed under Delaware law and to reduce the par value of all capital stock from $1.00 to $0.01 per share. All director nominees were elected, KPMG was ratified as auditor, executive compensation received advisory approval, and all governance proposals passed by the required votes.
Toro Co director D. Christian Koch reported routine equity compensation activity and gifts of company stock. On March 10, 2026, he exercised a non-qualified stock option for 4,951 shares of Toro common stock at an exercise price of $47.17 per share, converting an option granted in November 2016 into shares. On the same date, 2,335 shares were withheld at $100.04 per share to cover the exercise price or related tax obligations, leaving 2,616 shares held directly. On March 11, 2026, Koch made two bona fide gifts totaling 5,232 shares of Toro common stock, including a transfer that resulted in 18,191 shares being held indirectly through the Dale Christian Koch Trust. Following these transactions, his direct holdings reported in this filing were reduced to zero, with continued indirect ownership through the trust.
The Toro Company VP & CFO Angela C. Drake exercised restricted stock units and adjusted her shareholdings. On March 10, 2026, she converted 2,730.443 restricted stock units into the same number of common shares at an exercise price of $0.0000, with the common stock valued at $98.93 per share.
To cover tax obligations, 1,387 common shares were disposed of via share withholding, not an open-market sale. After these transactions, she directly holds 9,410.928 common shares and indirectly holds 482.276 shares through The Toro Company Retirement Plan. She also retains 4,159 restricted stock units and 758.09 performance share units for potential future settlement.
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.
TORO CO director James Calvin O'Rourke reported an option exercise and related share sale. He exercised a non-qualified stock option for 4,951 shares of common stock at an exercise price of $47.17 per share and received 4,951 shares of common stock.
On the same date, he sold 4,951 shares of common stock in an open-market transaction at $99.40 per share, effectively converting the option position into cash. After these transactions and related holdings updates, he directly owned 16,252 shares of TORO CO common stock in a brokerage account.
The Toro Company reported higher quarterly results while closing a sizable acquisition. For the three months ended January 30, 2026, net sales reached $1,036.3 million, up from $995.0 million a year earlier. Net earnings were $67.9 million versus $52.8 million, with diluted earnings per share increasing to $0.69 from $0.52.
Professional segment net sales rose to $824.0 million and EBIT to $137.6 million, while Residential segment net sales declined to $206.0 million and EBIT to $13.2 million. Operating cash flow improved to $26.1 million from a use of $48.6 million in the prior-year quarter.
The company completed the acquisition of Tornado Infrastructure Equipment Ltd. on December 8, 2025 for cash consideration of $210.3 million, funded through its revolving credit facility. The deal added preliminary goodwill of $137.6 million and other intangible assets of $63.8 million, and contributed $19.0 million of net sales in the quarter. Total debt rose to $1,071.7 million, while cash and cash equivalents ended the quarter at $189.0 million.