Toll Brothers, Inc. — Director's Dealing 2012

May 14, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TOLL BROTHERS INC (TOL)
CIK: 0000794170
Period of Report: 2012-05-10

Reporting Person: SICREE JOSEPH R (Chief Accounting Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-05-10	Common Stock	M	1060	$10.525	Acquired	18415	Direct
2012-05-10	Common Stock	S	1060	$27.50	Disposed	17355	Direct
2012-05-14	Common Stock	M	2510	$10.525	Acquired	19865	Direct
2012-05-14	Common Stock	S	2510	$27.50	Disposed	17355	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-05-10	Stock Options (Right to Buy)	$10.525	M	1060	Disposed	2012-12-20	Common Stock (1060)	Direct
2012-05-14	Stock Options (Right to Buy)	$10.525	M	2510	Disposed	2012-12-20	Common Stock (2510)	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.