SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
Svendsen Kurt D

(Last) (First) (Middle)
8111 LYNDALE AVENUE SOUTH

(Street)
BLOOMINGTON MN 55420-1196

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
TORO CO [ TTC ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
VP, Information Services
3. Date of Earliest Transaction (Month/Day/Year)
09/10/2019
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 09/10/2019 M 3,340 A $15.88 13,498.398 D
Common Stock 09/10/2019 S 3,340 D $73.69(1) 10,158.398 D
Common Stock 09/10/2019 M 4,400 A $14.1125 14,558.398 D
Common Stock 09/10/2019 S 4,400 D $73.392(2) 10,158.398 D
Common Stock 10,492.12(3) I The Toro Company Investment, Savings & ESOP
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Non-Qualified Stock Option $15.88 09/10/2019 M 3,340 (4) 12/08/2020 Common Stock 3,340 $0 0 D
Non-Qualified Stock Option $14.1125 09/10/2019 M 4,400 (5) 12/07/2021 Common Stock 4,400 $0 0 D
Explanation of Responses:
1. The price reported in Column 4 is a weighted average price. These shares of common stock were sold in multiple transactions at prices ranging from $73.56 to $73.74, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (1) and (2) to this Form 4.
2. The price reported in Column 4 is a weighted average price. These shares of common stock were sold in multiple transactions at prices ranging from $73.14 to $73.63, inclusive.
3. Includes the following shares of common stock acquired by the reporting person since the date of his last report: 108.055 net shares acquired under the dividend reinvestment feature of The Toro Company Investment, Savings & ESOP (the "IS&ESOP") less non-discretionary quarterly administrative fees; and 60.273 shares acquired through issuer annual investment fund contributions to the IS&ESOP.
4. The option vested in full on the third anniversary of the date of grant, which was December 8, 2010.
5. The option vested in three equal annual installments commencing on the first anniversary of the date of grant, which was December 7, 2011.
/s/ Nancy A. McGrath, Attorney-In-Fact 09/12/2019
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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