SEC Form 4 · accession 0001127602-18-035703
TORO CO · TTC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Blake M Grams
Officer — VP, Global Operations
Period of report
Dec 6, 2018
Accepted (ET)
Dec 10, 2018 · 4:54 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 StockF1 | Dec 6, 2018 | A | 3,540 | $0.00 | A | 3,540 | D | |
| Common Stock | Dec 6, 2018 | F | 1,084 | $58.15 | D | 2,456 | D | |
| Common StockF2 | holding | — | — | — | 133 | I | The Toro Company Investment, Savings & ESOP | |
| Performance Share UnitsF3 | holding | — | — | — | 35,178 | 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 OptionF4 | $58.53 | Dec 7, 2018 | A | 11,400 | A | — | Dec 7, 2028 | Common Stock | 11,400 | 11,400 | D |
Explanation of responses
- F1Represents the payout of a Performance Share Award for the Fiscal 2016 to Fiscal 2018 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 4, 2018, and which was conditioned upon and subject to confirmation by the issuer's Fiscal 2018 financial results that were released on December 6, 2018. Performance Share Awards are paid in shares of common stock under the Amended and Restated 2010 Plan.
- F2Includes the following shares of common stock acquired by the reporting person since the date of his last report: 1.184 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 66.013 shares acquired through issuer annual investment fund contributions to and revenue credit allocations in the IS&ESOP.
- F3Includes 350.515 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.
- F4The option vests in three equal annual installments commencing on the first anniversary of the date of grant.