SEC Form 4 · accession 0001127602-16-056909

TORO CO · TTC

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Michael J Hoffman

Officer — Chairman & CEO · Director

Period of report

Jun 29, 2016

Accepted (ET)

Jul 1, 2016 · 7:00 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^F1	Jun 29, 2016	M	62,800	$27.465	A	647,899	D
Common Stock^F2	Jun 29, 2016	S	62,800	$86.721	D	585,099	D
Common Stock	Jun 30, 2016	M	31,300	$27.465	A	616,399	D
Common Stock^F3	Jun 30, 2016	S	31,300	$86.092	D	585,099	D
Common Stock	Jun 30, 2016	M	31,500	$27.465	A	616,599	D
Common Stock^F4	Jun 30, 2016	S	31,500	$86.292	D	585,099	D
Common Stock	holding	—	—		—	20	I	By Son
Common Stock^F5	holding	—	—		—	125,387	I	Held by Michael J. Hoffman Irrevocable Lifetime Family Trust
Common Stock^F6	holding	—	—		—	68,045	I	The Toro Company Investment, Savings & ESOP

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 Option^F7	$27.465	Jun 29, 2016	M	62,800	D	—	Nov 28, 2017	Common Stock	62,800	62,800	D
Non-Qualified Stock Option^F7	$27.465	Jun 30, 2016	M	31,300	D	—	Nov 28, 2017	Common Stock	31,300	31,500	D
Non-Qualified Stock Option^F7	$27.465	Jun 30, 2016	M	31,500	D	—	Nov 28, 2017	Common Stock	31,500	0	D

Explanation of responses

F1Includes 1,209.714 shares of common stock acquired by the reporting person since the date of his last report under the dividend reinvestment feature of The Toro Company Direct Stock Purchase Plan (a "DRIP").
F2The price reported in Column 4 is a weighted average price. These shares of common stock were sold in multiple transactions at prices ranging from $86.46 to $87.015, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (2), (3) and (4) to this Form 4.
F3The price reported in Column 4 is a weighted average price. These shares of common stock were sold in multiple transactions at prices ranging from $86.00 to $86.135, inclusive.
F4The price reported in Column 4 is a weighted average price. These shares of common stock were sold in multiple transactions at prices ranging from $86.14 to $87.125, inclusive.
F5Includes 427.11 shares of common stock acquired by the reporting person under a DRIP since the date of his last report.
F6Includes the following shares of common stock acquired by the reporting person since the date of his last report: 231.86 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 45.984 shares acquired through issuer annual investment fund contributions to the IS&ESOP.
F7The option vested in three equal annual installments commencing on the first anniversary of the date of grant, which was November 28, 2007.