Toll Bros Chairman Sells 782,800 Of Builder's Shares

Date : 06/02/2011 @ 5:27PM
Source : Dow Jones News
Stock : Toll Brothers Inc. (TOL)
Quote : 37.68  -0.29 (-0.76%) @ 3:59PM

Toll Bros Chairman Sells 782,800 Of Builder's Shares

Toll Brothers (NYSE:TOL)
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Robert Toll, chairman of builder Toll Bros. (TOL), sold 782,800 shares of the company that were acquired through the exercise of stock options, according to a securities filing.

This week, Toll exercised 782,800 shares priced at $10.88 with a value of just over $8.5 million. He sold the same number at $21.67 per share with a value of nearly $17 million, according to the filing.

Toll exercised the options after they vested and nearly seven months before they were set to expire.

Following the transaction, Toll owned about 14 million shares directly and indirectly.

Shares of Toll closed down 0.7% Thursday at $21.11.

-By Dawn Wotapka, Dow Jones Newswires; 212-416-2193; dawn.wotapka@dowjones.com

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