SEC Form 4 · accession 0001127602-15-012358
TORO CO · TTC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael D Drazan
Officer — VP, Global Micro Irrigation
Period of report
Mar 19, 2015
Accepted (ET)
Mar 23, 2015 · 6:06 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000737758
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Mar 19, 2015 | M | 14,000 | $22.45 | A | 72,612 | D | |
| Common Stock | Mar 19, 2015 | S | 14,000 | $68.15 | D | 58,612 | D | |
| Common StockF1 | holding | — | — | — | 4,626 | I | The Toro Company Investment, Savings & ESOP | |
| Performance Share UnitsF2 | holding | — | — | — | 27,532 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Non-Qualified Stock OptionF3 | $22.45 | Mar 19, 2015 | M | 14,000 | D | — | Nov 30, 2016 | Common Stock | 14,000 | 0 | D |
Explanation of responses
- F1Includes the following shares of common stock acquired by the reporting person since the date of his last report: 18.272 net shares acquired under the dividend reinvestment feature of The Toro Company Investment, Savings & ESOP (the "IS&ESOP") less quarterly non-discretionary administrative fees; and 57.894 shares acquired through issuer annual investment fund contributions to the IS&ESOP.
- F2Includes 111.652 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.
- F3The option vested in three equal annual installments commencing on the first anniversary of the date of grant, which was November 30, 2006.