SEC Form 4 · accession 0001127602-16-069675
TORO CO · TTC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David H Alkire
Officer — VP, RLC Businesses
Period of report
Dec 8, 2016
Accepted (ET)
Dec 12, 2016 · 4:19 pm EST
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 |
|---|---|---|---|---|---|---|---|---|
| Performance Share UnitsF1 | Dec 8, 2016 | A | 4,876 | $0.00 | A | 4,876 | D | |
| Common StockF2 | holding | — | — | — | 6,857 | D | ||
| Common StockF3 | holding | — | — | — | 11,278 | 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 OptionF4 | $56.54 | Dec 9, 2016 | A | 12,600 | A | — | Dec 9, 2026 | Common Stock | 12,600 | 12,600 | D |
Explanation of responses
- F1Represents the payout of a Performance Share Award for the Fiscal 2014 to Fiscal 2016 Performance Period under The Toro Company Amended and Restated 2010 Equity and Incentive Plan, as amended and restated (the "Amended and Restated 2010 Plan"), as approved by the issuer's Compensation & Human Resources Committee of its Board of Directors on December 6, 2016, and which was conditioned upon and subject to confirmation by the issuer's Fiscal 2016 financial results that were released on December 8, 2016. The reporting person has deferred the payout of his Performance Share Award under The Toro Company Deferred Compensation Plan for Officers (the "Deferred Plan") and, accordingly, the reporting person's Performance Share Award is paid in performance share units under the Deferred Plan.
- F2On September 16, 2016, the common stock of the issuer split two-for-one (the "Stock Split"), resulting in the reporting person's ownership of 3,417.581 additional shares of common stock and 22.003 post-split shares of common stock acquired under under a dividend reinvestment feature of the account in which the shares are held since the date of his last report. All future Form 4 and 5 filings made by the reporting person will include adjustments, as necessary, to reflect the Stock Split.
- F3Includes 5,621.591 additional shares of common stock as a result of the Stock Split and 35.309 post-split net shares acquired by the reporting person under the dividend reinvestment feature of The Toro Company Investment, Savings & ESOP since the date of his last report, less quarterly non-discretionary administrative fees.
- F4The option vests in three equal annual installments commencing on the first anniversary of the date of grant.