O'Rourke James Calvin 4

What Happened

• James Calvin O'Rourke, a director of Toro Co. (TTC), exercised stock options to acquire 4,951 shares at an exercise price of $47.17 per share (cost $233,539) on 2026-03-10 and then sold those 4,951 shares in an open-market transaction at $99.40 per share for $492,129 the same day. The filing also shows the related derivative conversion/disposition entry at $0, reflecting surrender/conversion of the option instrument.

Key Details

• Transaction date: 2026-03-10; Form 4 filed: 2026-03-12 (timely filing).
• Exercise: 4,951 shares @ $47.17 = $233,539 (cash paid).
• Sale: 4,951 shares @ $99.40 = $492,129 (gross proceeds).
• Net proceeds before taxes/fees: approximately $258,590 (492,129 − 233,539).
• Shares owned after the transactions: not specified in the filing (footnote F1 only notes holdings are in a brokerage account).
• Footnotes: F1 = holdings reflected in a brokerage account; F2 = option vests in three equal annual installments starting Nov 1, 2016.
• No late filing flag was indicated; the Form 4 was submitted within the standard two-business-day window.

Context

• This is a common cashless-style transaction for option holders: the director exercised vested options and immediately sold the acquired shares in the open market. The derivative line reported at $0 represents the conversion/surrender of the option instrument associated with the exercise. Such transactions are routine and reflect liquidity from vested option rights rather than a new purchase signal.