SEC Form 4 · accession 0001127602-17-010183
TORO CO · TTC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael J Hoffman
Officer — Chairman of the Board · Director
Period of report
Mar 1, 2017
Accepted (ET)
Mar 3, 2017 · 4:33 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 |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Mar 1, 2017 | M | 184,400 | $7.155 | A | 1,383,889 | D | |
| Common StockF1 | Mar 1, 2017 | S | 184,400 | $61.073 | D | 1,199,489 | D | |
| Common Stock | Mar 2, 2017 | M | 40,823 | $7.155 | A | 1,240,312 | D | |
| Common StockF2 | Mar 2, 2017 | S | 40,823 | $60.647 | D | 1,199,489 | D | |
| Common Stock | holding | — | — | — | 40 | I | By Son | |
| Common StockF3 | holding | — | — | — | 253,182 | I | Held by Michael J. Hoffman Irrevocable Lifetime Family Trust | |
| Common StockF4 | holding | — | — | — | 137,395 | 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 OptionF5 | $7.155 | Mar 1, 2017 | M | 184,400 | D | — | Dec 3, 2018 | Common Stock | 184,400 | 184,400 | D |
| Non-Qualified Stock OptionF5 | $7.155 | Mar 2, 2017 | M | 40,823 | D | — | Dec 3, 2018 | Common Stock | 40,823 | 143,577 | D |
Explanation of responses
- F1The price reported in Column 4 is a weighted average price. These shares of common stock were sold in multiple transactions at prices ranging from $60.92 to $61.34, 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 (1) and (2) to this Form 4.
- 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 $60.50 to $61.07, inclusive.
- F3Includes 787.153 shares of common stock acquired by the reporting person under under the dividend reinvestment feature of The Toro Company Direct Stock Purchase Plan since the date of his last report.
- F4Includes 426.658 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.
- F5The option vested in three equal annual installments commencing on the first anniversary of the date of grant, which was December 3, 2008.