---
schema_version: "secwatch.filing_event.v1"
accession: "0000737758-26-000025"
form_type: "8-K"
ticker: "TTC"
cik: "0000737758"
company_name: "TORO CO"
filed_at: "2026-07-22T21:22:08+00:00"
generated_at: "2026-07-22T21:24:08.879748+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Toro announces CEO succession: Edric Funk to become President and CEO effective Nov 1, 2026

## Summary
- Edric C. Funk elected President and CEO, effective Nov 1, 2026; also elected to Board immediately.
- Current CEO Richard M. Olson transitions to Executive Chairman, effective Nov 1, 2026.
- Funk's base salary increased from $715,000 to $1,000,000; FY2027 cash incentive target set at 120% of salary.
- Olson's base salary set at $763,000 as Executive Chairman; FY2027 cash incentive target at 130% of salary.
- Funk joined Toro in 1996 as design engineer; most recently served as President and COO since Sep 2025.

## SEC filing metadata
- accession: 0000737758-26-000025
- form_type: 8-K
- ticker: TTC
- cik: 0000737758
- company_name: TORO CO
- filed_at: 2026-07-22T21:22:08+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/737758/000073775826000025/0000737758-26-000025-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/737758/000073775826000025/ttc-20260721.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000737758-26-000025
- JSON: https://secwatch.observer/filing/0000737758-26-000025.json
- Plain text: https://secwatch.observer/filing/0000737758-26-000025.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.