On March 30, 2026, Toll Brothers, Inc. announced a significant leadership change as part of its CEO succession plan. The company's Board of Directors has increased its size from nine to ten members, appointing Mr. Karl K. Mistry as a new Director. His term will last until the 2027 annual meeting of stockholders. In conjunction with this appointment, Mr. Mistry has succeeded Mr. Douglas C. Yearley, Jr. as the Chief Executive Officer, while Mr. Yearley will transition to the role of Executive Chairman. This leadership change is expected to bring fresh perspectives to the company, which is a leading builder of luxury homes in the United States. The Board's decision to expand its size indicates a strategic move to enhance governance and oversight as the company navigates the evolving housing market. Mr. Mistry's appointment is not expected to include a committee role, and there are no disclosed arrangements or understandings regarding his selection as a director. The company has confirmed that Mr. Mistry does not have any material interest in any transactions that would require disclosure under SEC regulations. This transition comes at a time when the housing market is experiencing fluctuations, and the company aims to position itself for future growth and operational success.

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