Douglas C. Yearley Jr. - Dec 8, 2022 Form 4 Insider Report for Toll Brothers, Inc. (TOL)

Role: Chief Executive Officer, Director
Signature: /s/ Michael J. Grubb, attorney-in-fact
Stock symbol: TOL
Transactions as of: Dec 8, 2022
Transactions value $: -$23,922
Form type: 4
Date filed: 12/9/2022, 04:03 PM
Previous filing: Dec 29, 2021
Next filing: Dec 12, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TOL	Common Stock	Options Exercise	$43.8K	+1.36K	+0.85%	$32.22	161K	Dec 8, 2022	Direct
transaction	TOL	Common Stock	Sale	-$67.7K	-1.36K	-0.84%	$49.82	160K	Dec 8, 2022	Direct	F1, F2
transaction	TOL	Common Stock	Award	$0	+34.7K	+21.72%	$0.00	195K	Dec 9, 2022	Direct	F3
holding	TOL	Common Stock						1.55K	Dec 8, 2022	401(k) Plan
holding	TOL	Common Stock						500	Dec 8, 2022	Trust
holding	TOL	Common Stock						80.5K	Dec 8, 2022	By SLAT

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	TOL	Stock Options (Right to Buy)	Options Exercise	$0	-1.36K	-0.91%	$0.00	149K	Dec 8, 2022	Common Stock	1.36K	$32.22	Direct	F4
transaction	TOL	Performance Based Restricted Stock Units	Award	$0	+33.9K	+100%	$0.00	67.8K	Dec 9, 2022	Common Stock	33.9K	$0.00	Direct	F5

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

Explanation of Responses:

Id	Content
F1	The Reporting person will provide, upon request by SEC staff, the issuer or a security holder, the full information about the number of shares sold at each separate sales price.
F2	Weighted-average sales price. Actual sale prices ranged from $49.82 to $49.84.
F3	Reflects the number of shares earned in respect of TSR-based performance restricted stock units originally granted on December 18, 2019. On December 9, 2022, 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 2019 to October 31, 2022 relative to the TSR of each of a peer group of companies. Settlement of the shares will occur on December 18, 2022.
F4	Vested 25% on 12/17/2013, 2014, 2015 and 2016. Exercisable as of vesting date.
F5	Reflects the number of shares earned in respect to operational performance restricted stock units originally granted December 20, 2021. On December 9, 2022, the Compensation Committee of the Board of Directors certified the achievement levels of the operational metrics applicable to the award and the number of shares earned based on such results. One quarter of the shares earned vest each anniversary of the grant date, with settlement of 100% of the award on the fourth anniversary.