Richard M. Olson - 15 Dec 2021 Form 4 Insider Report for TORO CO (TTC)

Role: Chairman & CEO, Director
Signature: /s/ Angela D. Snavely, Attorney-in-Fact
Issuer symbol: TTC
Transactions as of: 15 Dec 2021
Net transactions value: $0
Form type: 4
Filing time: 17 Dec 2021, 11:28:11 UTC
Next filing: 28 Feb 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TTC	Performance Share Units	Award	$0	+23,685	+24%	$0.000000	124,036	15 Dec 2021	Direct	F1, F2
holding	TTC	Common Stock						9,575	15 Dec 2021	Direct
holding	TTC	Common Stock						16,639	15 Dec 2021	The Toro Company Retirement Plan	F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	TTC	Non-Qualified Stock Option	Award	$0	+109,100		$0.000000	109,100	16 Dec 2021	Common Stock	109,100	$99.34	Direct	F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents the payout of a Performance Share Award for the Fiscal 2019 to Fiscal 2021 Performance Period under The Toro Company Amended and Restated 2010 Equity and Incentive Plan, as amended and restated, as approved by the Issuer's Compensation & Human Resources Committee of its Board of Directors on December 14, 2021, and which was conditioned upon and subject to confirmation by the Issuer's Fiscal 2021 financial results that were released on December 15, 2021. The reporting person has deferred the payout of his Performance Share Award under The Toro Company Deferred Compensation Plan for Officers (the "Deferred Plan") and, accordingly, the reporting person's Performance Share Award is paid in performance share units under the Deferred Plan.
F2	Includes 732.018 performance share units acquired by the reporting person since the date of his last report under the dividend reinvestment feature of the Deferred Plan.
F3	Includes 120.724 shares acquired by the reporting person since the date of his last report under the dividend reinvestment feature of the The Toro Company Retirement Plan less quarterly non-discretionary administrative fees.
F4	The option vests in three equal annual installments commencing on the first anniversary of the date of grant.