Drake Angela C 4

What Happened
Angela C. Drake, Vice President & Chief Financial Officer of The Toro Company (TTC), exercised stock option/derivative awards on 2026-03-10 to acquire 2,730.443 shares at an exercise price of $98.93 per share (total value reported $270,123). To cover tax withholding/obligations, 1,387 of the newly issued shares were surrendered/withheld (reported disposed) at the same per-share price (value ~$137,216). The filing also records the derivative instruments as disposed upon exercise.

Key Details

• Transaction date: 2026-03-10. Exercise price: $98.93 per share.
• Exercise/acquired: 2,730.443 shares for $270,123 (code M = option exercise).
• Tax/payment withholding: 1,387 shares surrendered/withheld (code F) valued at ~$137,216.
• Filing date: 2026-03-12 for 2026-03-10 transactions — appears timely (filed within the usual Form 4 window).
• Shares owned after the transactions: not specified in the reported data.
• Footnotes of note:
  • F1: Small additions from retirement plan contributions and dividend reinvestment (27.621 and 1.989 shares).
  • F2: 3.319 performance share units added via dividend reinvestment in deferred comp plan.
  • F3–F5: Restricted stock units (RSUs) represent rights to shares; certain RSUs vest in three equal annual installments (grants dated Mar 10, 2023 and Dec 22, 2025).

Context
This appears to be an option exercise with a net-share or tax-withholding settlement (some shares withheld to pay taxes), not an open-market purchase or sale. That means Drake acquired shares via exercise but did not add the full amount of shares to her holdings because of the withholding; such transactions are generally routine compensation-related actions rather than explicit buy/sell signals. The filing does not indicate a 10% owner status or an open-market sale of remaining shares.