SEC FORM 4 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*
HOFFMAN MICHAEL J

(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)
X Director 10% Owner
X Officer (give title below) Other (specify below)
Chairman & CEO
3. Date of Earliest Transaction (Month/Day/Year)
06/29/2016
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 06/29/2016 M 62,800 A $27.465 647,898.697(1) D
Common Stock 06/29/2016 S 62,800 D $86.721(2) 585,098.697 D
Common Stock 06/30/2016 M 31,300 A $27.465 616,398.697 D
Common Stock 06/30/2016 S 31,300 D $86.092(3) 585,098.697 D
Common Stock 06/30/2016 M 31,500 A $27.465 616,598.697 D
Common Stock 06/30/2016 S 31,500 D $86.292(4) 585,098.697 D
Common Stock 20 I By Son
Common Stock 125,387.428(5) I Held by Michael J. Hoffman Irrevocable Lifetime Family Trust
Common Stock 68,044.819(6) 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 $27.465 06/29/2016 M 62,800 (7) 11/28/2017 Common Stock 62,800 $0 62,800 D
Non-Qualified Stock Option $27.465 06/30/2016 M 31,300 (7) 11/28/2017 Common Stock 31,300 $0 31,500 D
Non-Qualified Stock Option $27.465 06/30/2016 M 31,500 (7) 11/28/2017 Common Stock 31,500 $0 0 D
Explanation of Responses:
1. Includes 1,209.714 shares of common stock acquired by the reporting person since the date of his last report under the dividend reinvestment feature of The Toro Company Direct Stock Purchase Plan (a "DRIP").
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 $86.46 to $87.015, 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 (2), (3) and (4) to this Form 4.
3. 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 $86.00 to $86.135, inclusive.
4. 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 $86.14 to $87.125, inclusive.
5. Includes 427.11 shares of common stock acquired by the reporting person under a DRIP since the date of his last report.
6. Includes the following shares of common stock acquired by the reporting person since the date of his last report: 231.86 net shares acquired under the dividend reinvestment feature of The Toro Company Investment, Savings & ESOP (the "IS&ESOP") less quarterly non-discretionary administrative fees; and 45.984 shares acquired through issuer annual investment fund contributions to the IS&ESOP.
7. The option vested in three equal annual installments commencing on the first anniversary of the date of grant, which was November 28, 2007.
/s/ Nancy A. McGrath, Attorney-In-Fact 07/01/2016
** 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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