Martin P. Connor - Dec 7, 2023 Form 4 Insider Report for Toll Brothers, Inc. (TOL)

Role
Chief Financial Officer
Signature
/s/ Michael J. Grubb, attorney-in-fact
Stock symbol
TOL
Transactions as of
Dec 7, 2023
Transactions value $
-$325,996
Form type
4
Date filed
12/8/2023, 04:12 PM
Previous filing
Dec 5, 2023
Next filing
Dec 19, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TOL Common Stock Award $0 +9.04K +18.11% $0.00 59K Dec 7, 2023 Direct F1
transaction TOL Common Stock Tax liability -$326K -3.67K -6.22% $88.90 55.3K Dec 7, 2023 Direct

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 Performance Based Restricted Stock Units Award $0 +14.8K $0.00 14.8K Dec 7, 2023 Common Stock 14.8K $0.00 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects the number of shares earned in respect of ROE-based performance restricted stock units originally granted on December 21, 2020. On December 7, 2023, the Compensation Committee of the Issuer's Board of Directors certified the achievement of the applicable performance metrics, which measured return on equity (ROE) of the Issuer over the three year period from November, 1 2020 to October 31, 2023. Settlement of the shares will occur on December 21, 2023.
F2 Reflects the number of shares earned in respect to operational performance restricted stock units originally granted December 19, 2022. On December 7, 2023, 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.
F3 These performance-based restricted stock units vest 25% on each of December 19, 2023, 2024, 2025 and 2026. Settlement of 100% of earned shares is scheduled to occur on December 19, 2026.