SEC Form 4 · accession 0001127602-18-035284
Toll Brothers, Inc. · TOL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Richard T. Hartman
Officer — President
Period of report
Dec 3, 2018
Accepted (ET)
Dec 6, 2018 · 9:39 am EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000794170
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Dec 3, 2018 | A | 6,254 | $0.00 | A | 50,678 | D | |
| Common Stock | holding | — | — | — | 2,706 | I | 401(k) Plan |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance Based Restricted Stock UnitsF2,F3 | $0.00 | Dec 3, 2018 | A | 21,764 | A | Dec 18, 2021 | Dec 18, 2021 | Common Stock | 21,764 | 21,764 | D |
Explanation of responses
- F1Reflects the number of shares earned in respect of TSR-based performance restricted stock units originally granted on December 18, 2015. On December 3, 2018, the Compensation Committee of the Issuer's Board of Directors certified the achievement of the applicable performance metric, which measured total shareholder return (TSR) of the Issuer over the three year period from November, 1 2015 to October 31, 2018 relative to the TSR of each of a peer group of companies. Settlement of the shares will occur on December 19, 2018.
- F2Reflects the number of shares earned in respect of operational performance restricted stock units originally granted on December 18, 2017. On December 3, 2018, the Compensation Committee of the Board of Directors certified the achievement levels of the operational performance metrics applicable to the award and the number of shares earned based on such results. One quarter of shares earned vest on each anniversary of the grant date, with settlement of 100% of the award on the fourth anniversary.
- F3These performance-based restricted stock units vest 25% on each of December 18, 2018, 2019, 2020 and 2021. Settlement of 100% of earned shares is scheduled to occur on 12/18/2021.