Toll Brothers, Inc. — Director's Dealing 2012

May 3, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TOLL BROTHERS INC (TOL)
CIK: 0000794170
Period of Report: 2012-05-02

Reporting Person: SICREE JOSEPH R (Chief Accounting Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-05-02	Common Stock	M	7200	$10.525	Acquired	24555	Direct
2012-05-02	Common Stock	S	3600	$26.50	Disposed	20955	Direct
2012-05-02	Common Stock	S	3600	$27.00	Disposed	17355	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-05-02	Stock Options (Right to Buy)	$10.525	M	7200	Disposed	2012-12-20	Common Stock (7200)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2563	Indirect
Common Stock	1500	Indirect
Common Stock	7400	Indirect

Footnotes

F1: All sales reported on this Form 4 were made pursuant to a 10b5-1 trading plan adopted by the reporting person on January 12, 2012.