[Form 4] Costco Wholesale Corp Insider Trading Activity

Rhea-AI Filing Summary

SEC Form 4 filing overview: On 07/14/2025 Toll Brothers, Inc. (TOL) director Christine Garvey reported the sale of 770 common shares at $119.8156 per share, coded “S” for disposition.

After the transaction, Garvey’s holdings stand at 11,590 shares held indirectly through a trust and 124 shares held indirectly through her spouse; no shares are shown as held directly. The filing, signed on 07/15/2025 by attorney-in-fact Michael J. Grubb, discloses no derivative security activity.

The trade, valued at roughly $92k, is a routine move by a non-executive director and is unlikely to have a material impact on Toll Brothers’ ownership structure or governance.

Insights

Financial Analyst

TL;DR: Minor insider sale; neutral impact.

The Form 4 shows a small disposition—770 shares—by director Christine Garvey at $119.8156. Post-sale ownership remains above 11.7k shares through indirect vehicles. No options or other derivatives were involved, and her board role is unchanged. Given Toll Brothers’ ~112 million shares outstanding, this sale is immaterial (<0.001%) and signals neither significant confidence change nor liquidity stress. Investors generally view such modest director-level trades as routine portfolio adjustments. Overall impact on valuation, governance, or insider-sentiment metrics is neutral.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Rubanenko Yoram

(Last) (First) (Middle)

999 LAKE DRIVE

(Street)

ISSAQUAH WA 98027

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
COSTCO WHOLESALE CORP /NEW [ COST ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Executive Vice President

3. Date of Earliest Transaction (Month/Day/Year)
07/14/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/14/2025		S		4,000	D	$974.963	5,774.032	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

	/s/ Alejandro Torres, Attorney-in-Fact	07/15/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did Toll Brothers (TOL) report?

Director Christine Garvey filed a Form 4 reporting the sale of 770 common shares on 07/14/2025.

At what price were the Toll Brothers shares sold?

The shares were disposed of at $119.8156 per share, as disclosed in the Form 4.

How many Toll Brothers shares does Christine Garvey now own?

After the sale, Garvey holds 11,590 shares indirectly via a trust and 124 shares indirectly through her spouse; she lists no direct holdings.

Were any derivative securities involved in this filing?

No. The Form 4 indicates no transactions in options, warrants, or other derivative instruments.

Does the sale affect Christine Garvey’s position on the Toll Brothers board?

No. The filing lists her continuing role as a director without change.