Martin P. Connor - Jan 28, 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: Jan 28, 2023
Transactions value $: -$559,323
Form type: 4
Date filed: 1/30/2023, 03:25 PM
Previous filing: Jan 13, 2023
Next filing: Feb 2, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TOL	Common Stock	Options Exercise	$0	+25.9K	+83.09%	$0.00	57.2K	Jan 28, 2023	Direct	F1
transaction	TOL	Common Stock	Tax liability	-$559K	-9.75K	-17.05%	$57.39	47.4K	Jan 28, 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	Options Exercise	$0	-25.9K	-100%	$0.00^*	0	Jan 28, 2023	Common Stock	25.9K	$0.00	Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	The performance requirement was met on December 11, 2019. The service requirement was met on 1/28/2023.
F2	These performance based restricted stock units vested 25% on each January 28, 2020, 2021, 2022 and 2023. Settlement of 100% of earned shares occurred on 1/28/2023.