Toro SEC Filings

Toro Co (TTC) reported an insider Form 4 for a company officer (Group VP, Undg, Spec Con & Inl) dated 10/10/2025. The filing shows an award of 20,632 restricted stock units (RSUs).

According to the notes, each RSU equals one share of common stock. The 20,632 RSUs vest in full on October 10, 2028, which is the third anniversary of the grant date. A prior RSU grant from March 1, 2023 vests in three equal annual installments beginning on its first anniversary.

Post-transaction holdings include 4,155.055 shares through The Toro Company Retirement Plan (indirect), and common stock positions of 2,727.498 and 600.026 shares (direct). Dividend reinvestment features account for incremental share accruals noted in the footnotes.

Toro Co (TTC) reported an insider equity grant. On 10/10/2025, Group Vice President of Golf, Grounds & Irrigation Grant M. Young was awarded 3,438 restricted stock units (RSUs). Each RSU represents the right to receive one share of common stock and vests in three equal annual installments commencing on the first anniversary of October 10, 2025.

Following the report, beneficial holdings include 1,881.834 shares of common stock held directly, 2,540.037 shares held indirectly via the TTC Retirement Plan, and 2,236.087 performance share units. The filing notes it was submitted under TTC’s CIK because the reporting person’s CIK has not yet been assigned.

The Toro Company (TTC) reported insider equity awards by a company officer on 10/10/2025. The reporting person, an officer (Group VP, Landscapes & Contracting), received 20,632 restricted stock units (RSUs) at a stated price of $0, which vest in full on October 10, 2028.

The filing also lists 767.953 RSUs outstanding from a prior grant that vests in three equal annual installments beginning on the first anniversary of the November 1, 2022 grant date. Indirect common stock held through The Toro Company Retirement Plan was reported as 2,195.433 shares, reflecting a 0.013-share decrease tied to quarterly administrative fees.

The Toro Company reported that it has signed an Arrangement Agreement to acquire Tornado Infrastructure Equipment Ltd., a Canadian manufacturer of vacuum trucks and industrial equipment for underground construction, power transmission and energy markets. Toro will purchase all outstanding Tornado common shares for CAD $1.92 per share, representing a fully diluted equity value of CAD $279 million, and Tornado will become a wholly owned subsidiary of a Toro subsidiary.

The transaction is expected to close during Toro’s fiscal 2026 first quarter, subject to approval by Tornado shareholders, required antitrust and other regulatory approvals, and customary closing conditions, including accuracy of representations and warranties. The deal is not subject to a financing condition, and Toro plans to fund the purchase with cash on hand, borrowings under its unsecured senior revolving credit facility, and/or other additional financing arrangements.

Toro Co. reported an initial Form 3 showing that Grant M. Young began serving as Group Vice President of Golf, Grounds & Irrigation on 09/29/2025 and beneficially owns 2,236.087 performance share units plus 1,881.834 shares directly and 2,540.023 shares indirectly through the TTC Retirement Plan, totaling 6,657.944 shares/units. The filing notes the report was submitted under the issuer's CIK because the reporting person’s CIK is not yet available; a new Form 3 will be filed when it is.

The filing reports insider transactions by Amy E. Dahl, Vice President, International of The Toro Company (TTC), on 09/30/2025. She acquired 16,200 shares via a non‑qualified stock option exercise at an exercise price of $58.53 and disposed of 14,194 shares at a price of $75.79 on the same date. The Form shows reporting post‑transaction beneficial ownership figures of 47,536.261 and 33,342.261 common shares (direct), notes 4,176.758 shares held indirectly through the Toro Company Retirement Plan, and records the disposition of 18,777.125 performance share units. The option granted that was exercised originally vests in three equal annual installments starting December 7, 2018.

The Toro Company entered into a note purchase agreement and issued $200 million of 5.27% Senior Notes due September 30, 2032 in a private placement. The company plans to use the proceeds primarily to fully repay the entire $200 million outstanding under its April 27, 2022 term loan credit agreement, with the remainder available for general corporate purposes.

The new notes are senior, unsecured obligations with interest payable semiannually on March 30 and September 30, beginning March 30, 2026. Toro can prepay the notes at 100% of principal plus a make-whole premium and accrued interest, and during the 90 days before maturity may prepay without a make-whole premium. If certain change of control events occur, holders can require Toro to repurchase their notes at 100% of principal plus accrued interest.

The note purchase agreement includes customary covenants, such as limits on affiliate transactions, mergers, asset sales, liens and subsidiary debt, along with a maximum leverage ratio and a most favored lender covenant tied to other material credit facilities. It also provides for standard events of default. The notes were issued under Section 4(a)(2) of the Securities Act and are not registered, so they may only be offered or sold under applicable exemptions.

The Toro Company reported that Amy Dahl, its Vice President, International, has notified the company she will be leaving effective September 30, 2025 to pursue other interests. The company states that her departure is not due to any disagreement regarding its operations, policies, or practices, indicating this is described as a voluntary transition rather than a conflict-driven exit.

Janey Gregory S, Group VP, Landscapes & Contract for The Toro Company (TTC), reported multiple transactions dated 09/18/2025. The filing shows purchases of 1,940 common shares via option exercises at $38.82 per share and dispositions of 1,248 shares at about $80.03 and $80.02 per share. Post-transaction beneficial ownership figures on the form include positions reported as 5,538.669, 4,290.669, 6,230.669, and 4,982.669 shares in various lines, plus 2,195.446 shares held indirectly and 6,398.101 shares tied to performance share units. The form also discloses non-qualified stock options tied to 1,940 underlying shares and 767.953 restricted stock units that convert to common shares when vested.