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Joanna M. Totsky, Vice President, General Counsel, and Corporate Secretary at The Toro Company (NASDAQ:TTC), announced updates to her beneficial ownership of company shares after restricted stock units vested on July 13, 2026. Filed on July 15, 2026, the disclosure details the conversion of restricted stock units into common stock, a minor tax withholding share transaction, and Totsky's revised total shareholdings. This insider update offers investors insight into executive equity stakes at the Bloomington, Minnesota-based outdoor equipment manufacturer.
Key Highlights
- NASDAQ ticker: TTC
- Joanna M. Totsky, VP, General Counsel, and Corporate Secretary, reported changes in her Toro Company common stock ownership following restricted stock unit vesting on July 13, 2026.
- 20.305 restricted stock units vested at $93.33 per share; 6 shares were withheld for tax purposes, resulting in a directly held total of 7,734.291 shares post-transactions.
- Totsky retains 2,725.125 restricted stock units from a December 22, 2025 grant, which vest in three equal annual installments.
Details of Restricted Stock Unit Vesting on July 13, 2026
On July 13, 2026, Joanna M. Totsky acquired 20.305 shares of Toro Company common stock through restricted stock unit vesting, recorded under transaction code "M," indicating exercise or conversion of derivative securities. The transaction price was $93.33 per share. This event marks the scheduled conversion of a previously granted equity award into common stock.
The vested units were originally granted on June 20, 2023, with a vesting schedule of three equal annual installments starting on the first anniversary of the grant date. The 20.305 units represent the final installment, including accumulated dividend equivalents. Each unit corresponds to a contingent right to receive one share of TTC common stock, with a stated price of $0 at conversion.
Tax Withholding Reduces Direct Share Count
Following vesting, a second transaction on July 13, 2026, involved the withholding of 6 shares for tax obligations, coded "F." The withholding price matched the vesting price of $93.33 per share. This routine tax-related transaction does not represent an open-market sale by Totsky.
After these transactions, Totsky's directly held Toro Company shares totaled 7,734.291, including fractional shares from dividend equivalents accrued during the award period—a common feature of long-term equity compensation.
Indirect Ownership via Toro Company Retirement Plan
Beyond direct holdings, Totsky holds 1.04 shares indirectly through The Toro Company Retirement Plan. This includes 0.004 shares acquired via dividend reinvestment since her last report. This incremental increase aligns with typical employer-sponsored retirement plan participation. Although nominal compared to direct holdings, disclosure of indirect ownership is mandated under Section 16(a) of the Securities Exchange Act of 1934 for corporate officers like Totsky.
Outstanding Restricted Stock Units from December 2025 Grant
Totsky also holds 2,725.125 unvested restricted stock units granted on December 22, 2025. These units vest in three equal annual installments starting on the first anniversary of the grant date. Each unit entitles her to one share of TTC common stock upon vesting and includes dividend equivalents.
This December 2025 grant reflects a significant equity commitment to a key executive. The first tranche is scheduled to vest in December 2026. The filing does not specify the exact number of shares per installment.
Totsky’s Executive Role and Reporting Obligations
Joanna M. Totsky serves as Vice President, General Counsel, and Corporate Secretary of The Toro Company, making her a named officer subject to Section 16 insider reporting requirements. Her address is listed as 8111 Lyndale Avenue South, Bloomington, Minnesota 55420, matching the company’s headquarters.
Her senior legal and governance position typically involves equity compensation designed to align her interests with shareholders. The disclosed equity awards—including the vested June 2023 grant and outstanding December 2025 grant—are consistent with long-term incentive structures, though no additional compensation commentary was provided.
Stock Price Context for July 13, 2026 Transactions
The $93.33 per-share price reported for both the vesting and tax withholding transactions reflects the valuation used for compensation reporting, not open-market trading. These transactions do not indicate discretionary buying or selling by Totsky. Investors tracking insider activity should note this distinction.
Structure of June 2023 Restricted Stock Unit Award
The June 20, 2023 restricted stock unit grant vested over three years in equal annual installments. The recent vesting of 20.305 units, including dividend equivalents, completes this cycle. No unvested units remain from this grant.
Dividend equivalents contributed to fractional share totals, a standard feature that increases the final share count beyond the original grant size. The filing does not disclose the initial number of units granted in June 2023 beyond vesting details.
Compliance with Section 16 Reporting Requirements
The disclosure was filed on July 15, 2026, two business days after the July 13 transactions, meeting Section 16(a) reporting deadlines. Joanna M. Totsky signed the report on July 14, 2026. The filing was made individually, with no joint or group filings indicated, and no Rule 10b5-1 trading plan was reported.
The company provided no additional commentary beyond required disclosures.
Summary of Totsky’s Beneficial Ownership Post-Transactions
After these transactions, Totsky’s beneficial ownership consists of 7,734.291 shares held directly, 1.04 shares held indirectly via the retirement plan, and 2,725.125 restricted stock units outstanding from the December 2025 grant. This combined equity position reflects her overall stake in The Toro Company as of the latest transactions.
Investors monitoring insider ownership at TTC may find this updated information useful for evaluating executive alignment with shareholder interests, although no forward-looking statements were included in the filing.
