Toast insider disclosures: 1.4M shares sold recently, 156K planned sale

Rhea-AI Filing Summary

Insider sale notice under Rule 144 for Toast, Inc. (TOST). The filer plans to sell 156,000 Class A shares on 08/28/2025 through Fidelity Brokerage Services; those shares were acquired via an option granted 03/15/2022 and are to be paid in cash. The filing lists the issuer's outstanding Class A shares as 510,000,000 and shows the aggregate market value for the 156,000 share block as $7,008,354.99. The document also discloses extensive recent insider activity: the named person sold a total of 1,396,160 Class A shares across multiple dates in June–August 2025. By signing the notice the seller represents no undisclosed material adverse information exists regarding the issuer.

Positive

• Compliance with Rule 144: Notice filed and seller attests there is no undisclosed material adverse information.
• Source of shares disclosed: The 156,000 shares slated for sale were acquired via an option granted on 03/15/2022 and will be paid in cash.

Negative

• Significant insider dispositions: The named individual sold 1,396,160 Class A shares in June–August 2025, which may be interpreted negatively by some market participants despite being a small fraction of outstanding shares.

Insights

Securities Analyst

TL;DR: Multiple recent insider sales and an additional planned sale totaling 156,000 shares; aggregate insider activity is visible but represents a small fraction of outstanding stock.

This Form 144 shows a planned Rule 144 sale of 156,000 Class A shares acquired via an option grant, with payment in cash. The filer also reported 11 separate sales in the prior three months totaling 1,396,160 Class A shares. Relative to the issuer's stated 510,000,000 Class A shares outstanding, the disclosed sales represent a very small percentage of the float. The filing is procedural and confirms compliance with Rule 144 notice requirements; it does not provide operating results or new financial metrics.

Corporate Governance Expert

TL;DR: Document is a compliance disclosure of insider dispositions; it confirms representations about public disclosure but contains no governance changes.

The Form 144 includes the seller's attestation that no material nonpublic information exists and records the provenance of the 156,000 shares as an option grant. There are no disclosures of leadership changes, related-party transactions beyond routine insider sales, or other governance actions. The filing is informational and consistent with routine insider liquidity activity rather than signaling governance events.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Class A	Fidelity Brokerage Services LLC 900 Salem Street Smithfield RI 02917	156000	7008354.99	510000000	08/28/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Class A	08/28/2025	Option Granted - 03/15/2022	Issuer			156000	08/28/2025	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Christopher P. Comparato 333 Summer Street Boston MA 02210	Class A	06/20/2025	70000	2966558.00
Christopher P. Comparato 333 Summer Street Boston MA 02210	Class A	07/17/2025	70000	3224676.00
Christopher P. Comparato 333 Summer Street Boston MA 02210	Class A	08/07/2025	175000	7943495.00
Christopher P. Comparato 333 Summer Street Boston MA 02210	Class A	08/11/2025	124509	5418867.27
Christopher P. Comparato 333 Summer Street Boston MA 02210	Class A	08/13/2025	124509	5406305.29
Christopher P. Comparato 333 Summer Street Boston MA 02210	Class A	08/14/2025	124509	5339755.23
Christopher P. Comparato 333 Summer Street Boston MA 02210	Class A	08/18/2025	124509	5292018.48
Christopher P. Comparato 333 Summer Street Boston MA 02210	Class A	08/20/2025	124509	5236362.95
Christopher P. Comparato 333 Summer Street Boston MA 02210	Class A	08/21/2025	152615	6436568.15
Christopher P. Comparato 333 Summer Street Boston MA 02210	Class A	08/25/2025	150000	6559129.23
Christopher P. Comparato 333 Summer Street Boston MA 02210	Class A	08/27/2025	156000	6901549.20

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the Form 144 filed for TOST disclose?

It discloses a planned sale of 156,000 Class A shares on 08/28/2025 and multiple prior sales in June–August 2025 totaling 1,396,160 shares.

How were the 156,000 shares acquired according to the filing?

They were acquired via an option grant dated 03/15/2022 and the transaction is to be settled in cash.

What is the issuer's stated number of Class A shares outstanding?

The filing lists 510,000,000 Class A shares outstanding.

Does the filer state any undisclosed material information about Toast, Inc. (TOST)?

No. By signing the notice the seller represents they do not know any material adverse information not publicly disclosed.

Who is the broker handling the planned sale?

Fidelity Brokerage Services LLC at the address shown in the filing.