HORSHAM, Pa., March 12, 2008 (PRIME NEWSWIRE) -- Toll Brothers, Inc. (NYSE:TOL), (www.tollbrothers.com), the nation's leading builder of luxury homes, today announced the results of its 2008 Annual Meeting of Stockholders, held on March 12, 2008 at its corporate headquarters in Horsham, PA.
The Company reported that its stockholders approved the following proposals:
-- Election of three directors
-- Adoption of the Company's CEO Cash Bonus Plan
-- Adoption of an amendment to the Company's Stock Incentive Plan
for Employees (2007)
-- Adoption of an amendment to the Company's Stock Incentive Plan
for Non-Employee Directors (2007)
-- Authorization of a stock option exchange program for employees
other than executive officers and directors
-- Ratification of the appointment of Ernst & Young LLP as
independent auditors for the Company for the fiscal year ending
October 31, 2008
Toll Brothers, Inc. is the nation's leading builder of luxury homes. The Company began business in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange under the symbol "TOL". The Company serves move-up, empty-nester, active-adult and second-home home buyers and operates in 21 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, Texas, Virginia and West Virginia.
Toll Brothers builds luxury single-family detached and attached home communities, master planned luxury residential resort-style golf communities and urban low-, mid- and high-rise communities, principally on land it develops and improves. The Company operates its own architectural, engineering, mortgage, title, land development and land sale, golf course development and management and landscape subsidiaries. The Company also operates its own lumber distribution, and house component assembly and manufacturing operations.
Toll Brothers, a FORTUNE 500 Company, is the only publicly traded national home building company to have won all three of the industry's highest honors: America's Best Builder from the National Association of Home Builders, the National Housing Quality Award, and Builder of the Year. Toll Brothers proudly supports the communities in which it builds; among other philanthropic pursuits, the Company sponsors the Toll Brothers -- Metropolitan Opera International Radio Network, bringing opera to neighborhoods throughout the world. For more information, visit tollbrothers.com.
CONTACT: Toll Brothers, Inc.
Frederick N. Cooper
(215) 938-8312
[email protected]
Joseph R. Sicree
(215) 938-8045
[email protected]
